Currency Note


EUR: eurozone economy close to stagnation in February

The eurozone is having a dreadful year so far and figures released yesterday will do nothing to calm the nerves of those concerned about the economy. The PMI surveys from Markit showed that the eurozone’s manufacturing sector unexpectedly contracted in February,...

UK public finances hit record surplus

There was some good news for Chancellor Philip Hammond yesterday, as figures released showed that UK public finances hit a record surplus in January. The latest public sector net borrowing figures showed that the budget surplus widened to £15.76 billion last month...

USD: durable goods orders slow in December

It was a mixed day for the US, as we saw initial jobless claims fall by a whopping 23,000 to 216,000 up to 16 February. The markets had been expecting a figure of 229,000. The Markit services PMI reading came in better than expected by rising to 56.2 in February from...

GBP: Three Tory MPs resign to join Independent Group

(Former) Conservative MPs Anna Soubry, Sarah Wollaston and Heidi Allen resigned from the Tory party yesterday to join forces with the seven (former) Labour MPs in the newly formed Independent Group. All ten are refusing to hold by-elections to see if the people who...

Three Tory MPs join Independent Group

Just two days after seven MPs resigned from the Labour party, three Tory MPs followed suit to join the newly formed Independent Group. Anna Soubry, Sarah Wollaston and Heidi Allen all gave slightly different reasons for leaving the Conservative party. Allen criticised...

USD: US markets fall as investors await trade news

With no major economic data releases on yesterday’s schedule, the stock markets understandably dominated headlines from across the pond. The S&P 500 lost 7.5 points at the opening bell, while the Dow Jones Industrial Average dipped by 44 points. The tech-heavy...