The week started with a bang as there was a barrage of economic data from the UK. It showed that the UK economy is in better shape than previously thought.
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On a day when economic data for the UK was more encouraging than it has been for some time, it was comments made by Michel Barnier that affected the currency markets.
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While the headlines were dominated by Brexit, China’s foreign ministry reiterated that Beijing will take countermeasures if the US imposes new tariffs. As it stands, both sides have imposed tariffs on $50 billion of each other’s goods, with…
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Reports that the British and German governments have decided to abandon their key Brexit demands helped the pound rally against the euro and dollar yesterday afternoon. The pound had started the day weakening against the dollar, as investors…
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Yesterday was a topsy-turvy day for sterling to say the least. It started the day in a position of weakness, despite some extremely positive car sales figures and encouraging services PMI. Ongoing trade tensions are weakening currencies against…
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There was a raft of economic data from the eurozone yesterday, but the majority of it came in more or less as expected. Retail sales for July were slightly disappointing, as year-on-year, they grew by 1.1% against an…
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The main release from America yesterday was the balance of trade figures. The deficit had been expected to widen from a downwardly revised $45.7 billion in June to $50.3 billion, but the figure actually came in at $50.1…
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The dollar strengthened against a basket of currencies throughout yesterday, as trade tensions continue to rock the markets. The dollar is seen as a safe haven by investors – so they piled into it and sold emerging market…
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