May 18, 2022
Market Comment - 18th May 2022

Good afternoon, Today saw the UK release a whopping inflation rise of 9%. Although this was marginally the predicted 9.1% it further highlights the super hot price increases consumers are feeling at every turn. This led to an immediate weakening of the Pound versus the Euro and the Dollar, but not excessively so as the […]

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May 17, 2022
Market Comment - 17th May 2022

Good morning, This morning saw the UK release its employment data. Generally speaking it all came in ahead of expectation indicating a strong employment market in the UK at the moment. 56,900 people got into the workplace against an expected 38,800. Unemployment went down to 3.7% against an expected 3.8% and the average earnings including […]

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May 16, 2022
Market Comment - 16th May 2022

Good morning, Overnight the Chinese Retail Sales data came in way off expectation. Economists had predicted a 6% downturn but it actually came in at a contraction of 11.1%. This hasn't had much effect on fx rates but it is an indication of the overall global economy. Whilst we seem to be over the worst […]

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May 13, 2022
Market Comment - 13th May 2022

Good morning, The Pound has rallied against the Euro. Sterling has popped up off the technical support we previously identified. It looks to have been a technical rally rather than being as a result of news. It will be interesting to see if this rally holds or if the rate returns to the bottom of […]

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May 12, 2022
Market Comment - 12th May 2022

Good morning, Generally speaking this mornings raft of data from the UK (preliminary GDP data, manufacturing and production data, and trade balance) came in slightly below expectations. This has contributed to further weakening of the Pound. Particularly against the Dollar. Business headlines are dominated by this overarching story of a contracting UK economy in March […]

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May 11, 2022
Market Comment - 11th May 2022

Good morning, Yesterdays raft of speeches in the US ended up being fairly predictable. As expected they centred around the cost of living and inflation. This meant there was little or no effect on FX rates. GBP/USD continues to track sideways at multi year lows for the Pound. With little UK related data out today […]

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May 10, 2022
Market Comment - 10th May 2022

Good morning, First of all let's talk rates. The Pound took a hammering after the news out on Thursday and subsequent press conferences given by the Bank of England. Since then the Pound has gained little or no strength. Tracking sideways versus the Euro and the Dollar. Versus the Euro the rate is at the […]

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May 9, 2022
Market Comment - 9th May 2022

Good morning, A quick recap of the data from Friday and overnight. The US nonfarm payrolls came in better than expected with growth of 428k jobs versus an expected 391k. That has bolstered the strength of the Dollar as would be expected. Chinese exports came in way off the expected target. In the early hours […]

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May 6, 2022
Market Comment - 6th May 2022

Good morning, Yesterday the Bank of England raised interest rates as expected to 1%. However more importantly the MPC (Monetary Policy Committee) voted 9 to 0 for the hike where there was expected to be 1 vote against the rate rise. Andrew Bailey, the Bank of England Governor, then gave a press conference. Unfortunately it […]

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May 5, 2022
Market Comment - 5th May 2022

Good morning, Yesterdays interest rate decision by the FED went to prediction. They hiked their rate 0.5% to 1%. On the back of this we initially saw a quick jump in the GBP/USD rate. However that gain has been almost given back now and the Pound continues to look weak versus the Dollar. GBP/EUR has […]

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