Market Update
- Posted by Shyam Gokani in Bank of England, coronavirus, Dollar, Economy, EUR, Fed, GBP, Inflation, Sterling, UK, Uncategorised
- March 29, 2022
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In the last 24 hours, we saw sterling steal the show weakening heavily against the euro and dollar by almost 1%. As for the reason, Gov Bailey from the Bank of England held a speech that further re-affirmed the same message of UK economic weakness received at the last policy meeting. A dovish central bank […]
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Market Update
- Posted by Shyam Gokani in Bank of England, Brexit, coronavirus, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Retail Sales, Sterling, UK, Uncategorised
- March 25, 2022
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Standstill. That’s one way to explain the currency market over the past day. UK PMI data came out positive except that of manufacturing PMI. Today retail sales came in at -0.3% vs forecasts at 0.6%, as we know retail sales speaks volumes about the health of an economy, so a contraction only aligns with the […]
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Market Update
- Posted by Shyam Gokani in Bank of England, Bremain, Budget, coronavirus, Dollar, EUR, Fed, GBP, Inflation, Rate Cuts, Sterling, UK, Uncategorised
- March 24, 2022
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UK Inflation hit 6.2%, a 30 year high. The main contributors to inflation rising were a surge in prices of Fuel and food. Household Energy bills have increased by 25% by a year ago and forecasts suggest inflation is on the path to hitting 10% in the coming months. Historically GBP would usually strengthen against […]
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Market Update
- Posted by Shyam Gokani in Bank of England, Brexit, coronavirus, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Cuts, Sterling, UK, Uncategorised
- March 21, 2022
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A quick recap of last week. We saw the Fed raise rates to 0.5% and the Bank of England follow suit raising rates to 0.75% both events widely anticipated by markets and priced in. The tonality for both central banks however were far from similar, the fed Chair Jerome Powell was extremely hawkish on the […]
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Market Update
- Posted by Shyam Gokani in Bank of England, Budget, coronavirus, Dollar, Economy, EUR, Fed, Inflation, Sterling, UK, Uncategorised
- March 14, 2022
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The British pound fell to a 16-month low against the U.S. dollar, ahead of monetary policy updates from the Bank of England and Federal Reserve later in the week. Both the BoE and Fed are seen raising their main interest rates by 25 basis points at their respective meetings taking U.S rates to 50 bps […]
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- Posted by Shyam Gokani in Bank of England, Brexit, coronavirus, Dollar, Economy, EUR, Fed, GBP, Sterling, UK, Uncategorised
- March 11, 2022
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Sterling slipped to a 16-month low today against the safe-haven U.S. dollar and is heading for its third consecutive weekly decline as stronger-than-expected UK economic growth did little to support the pound. The Office for National Statistics said Britain’s economy grew 0.8% in January, the strongest monthly expansion since June and more than forecast by […]
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Market Update
- Posted by Shyam Gokani in Bank of England, Brexit, coronavirus, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Sterling, UK, Uncategorised
- March 3, 2022
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Sterling has continued to rise this morning against The EUR, reaching 1.2082 which is the highest in 12 months, with investors and traders focusing on market bets shifting towards a likelihood of The Bank of England raising rates again in March. Money markets are currently pricing in 108 bps of UK rate hikes this year […]
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Market Update
- Posted by Shyam Gokani in Bank of England, Brexit, coronavirus, Dollar, Economy, election, EUR, Fed, GBP, Prime Minister, Sterling, UK, Uncategorised
- February 25, 2022
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Sterling crashed against a surging dollar in its worst day since March 2020 as investors rushed into safe-haven assets after Russian forces invaded Ukraine. Missiles rained down. Ukraine reported columns of troops pouring across its borders from Russia and Belarus and landing on the coast from the Black and Azov seas. Safe-haven currencies such as […]
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- Posted by Shyam Gokani in Bank of England, coronavirus, Dollar, Economy, EUR, GBP, Prime Minister, Sterling, UK, Uncategorised
- February 24, 2022
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With news filtering through of a full scale invasion by Russia into Ukraine this morning, markets have taken a tumble with both GBP & EUR falling off against The USD. GBP/USD is now below the 1.35 area with EUR/USD currently in the mid 1.12 range with both currency pairs having dropped 1 cent against The […]
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Market Update
- Posted by Shyam Gokani in Bank of England, Brexit, coronavirus, Currency, Dollar, Economy, EUR, Fed, GBP, Sterling, UK, Uncategorised
- February 3, 2022
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The Pound has opened this mornings session slightly lower against The USD after disappointing earnings results for Meta, previously known as Facebook and has therefore seen a sell-off in tech and social media stocks, with people buying into the USD. We do expect GBP to recover moving later into the afternoon as The Bank of […]
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