Currency Note


EUR: German business morale falls again in December

On what was a relatively quiet day, we saw the German Ifo business climate reading for December. It has been expected to dip to 101.8 from 102 the previous month, but it actually came in at 101. It is the fourth decline in a row and the lowest reading since September...

USD: Trump urges Fed to resist hiking interest rates

Donald Trump sent another Tweet yesterday that urged the Federal Reserve to resist hiking interest rates this time around. The former reality television star appears to be unhappy with the central bank’s ‘quantitative tightening’ programme, which is currently taking...

No-deal planning ramped up by government

Yesterday, cabinet ministers agreed that no-deal planning must be ramped up and implemented across government. Measures include reserving ferry spaces for supplies and putting 3,500 troops on standby to deal with any disruption. Downing Street confirmed that no-deal...

GBP: Brexit deal vote postponed until New Year

After Jeremy Corbyn threatened to table a no confidence vote in the prime minister if she did not set a date for the Brexit vote, the Prime Minister set a date for the Brexit vote. Speaking to the Commons, Theresa May confirmed that debate over the bill would commence...

Brexit deal vote in week of 14 January 2019

Towards the end of yesterday afternoon, Theresa May confirmed that the Brexit deal vote will take place in the week beginning 14 January 2019. The UK Prime Minister delivered a statement to the Commons and said that she is fully aware that MPs are concerned about the...

EUR: eurozone inflation revised lower in November 2018

The main release from the eurozone on Monday morning was the inflation figures for November. The reading showed that annual inflation was revised lower to 1.9% last month from a preliminary estimate of 2% and down from 2.2% in October. It is the lowest rate of...

Brexit blow to May sees sterling slide

After recovering some ground on Wednesday and Thursday, the pound dropped back once more against the euro and dollar. The moves came following yet another Brexit blow to Theresa May’s hopes of getting her withdrawal agreement through Parliament. The meaningful vote...

USD: US composite PMI disappoints in December

As with the eurozone, the US released its services and manufacturing PMI for December on Friday. The composite reading dropped to 53.6 this month from 54.7 the previous month, although given any figure above 50.0 shows growth, the sectors are still performing rather...