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Daily Currency Report 2016-11-23

USD The Dollar resumed its uptrend on Tuesday, helped by a surge in U.S. existing home sales last month that further cemented expectations not only of a Federal Reserve interest rate hike in December, but also of further tightening next year. On Monday, the Dollar sold off slightly as investors took advantage of a holiday-shortened week to square positions and book profits on a …

Brexit Update 2016-11-22

On Monday Theresa May discussed her plans to have the UK offering the lowest rates of corporate tax in the G20 group of nations. She has also promised to ensure an early agreement with regards to UK nationals living in Europe and EU nationals living in the UK.  

Brexit Nov 22, 2016 0 Continue Reading

Daily Currency Report 2016-11-22

GBP The Pound jumped  in value yesterday during afternoon trading, reversing some of its recent losses. Some analysts identified the Pound’s move against the Yen as the trigger for the rise against the dollar, with rumors of a large order going through in GBPJPY. The move also came as Theresa May told the CBI conference she is working on getting business approval for her Brexit …

Brexit Update 2016-11-21

Both the Scottish and Welsh governments will be able to contribute to the Supreme Court battle about how Brexit should be triggered. This is related to the goverment’s appeal against the High Court ruling that in order to trigger Article 50 there must be a vote in Parliament. Prime Minister Theresa May has stated that they were on track to start the exit process …

Brexit Nov 21, 2016 0 Continue Reading

Daily Currency Report 2016-11-21

GBP It was announced Friday that the  Scottish and Welsh governments are to be allowed to have a say in the Supreme Court battle over how Brexit should be triggered. The government is appealing against a High Court ruling that MPs must get a vote on triggering Article 50. The Supreme Court has confirmed that Wales and Scotland will be allowed to take part …

Daily Currency Report 2016-11-18

GBP UK retail sales rose at their quickest annual rate in 14 years in October, bolstered by cold weather and Halloween sales at supermarkets. The Office for National Statistics said that sales volumes in October were up 7.4% from a year earlier. The pound hit a two-month high against the euro on Thursday, following the retail sales figure, and as investors focused on the political …

Daily Currency Report 2016-11-17

USD The dollar hit a 14-year high against a basket of currencies on Wednesday as a post-U.S. election sell-off resumed across global bond markets, lifting Treasury yields and attracting investors to the U.S. currency. Equity markets reflected this with Europe’s main indices down as much as 0.8 percent and Wall Street expected to open 0.5 percent lower. U.S. President-elect Trump’s plans to cut taxes …

Daily Currency Report 2016-11-16

USD The Dollar strengthened yesterday afternoon as sales at US retailers rose more than forecast last month in a broad advance after an even stronger September than initially estimated, showing consumers continue to pump up the economy. Healthy hiring, wage growth and limited inflation are giving Americans the opportunity to spend at stores, malls and online merchants. Furniture outlets and restaurants were the only major …

Daily Currency Report 2016-11-15

USD US President-elect Donald Trump has awarded key roles in his incoming team to Reince Priebus and Stephen Bannon. Priebus is chairman of the Republican National Committee (RNC), and will be Trump’s chief of staff. Stephen Bannon, from the Breitbart News Network, will serve as Trump’s chief strategist. In a statement released by his campaign, Mr Trump described Mr Priebus and Mr Bannon as …

Daily Currency Report 2016-11-14

USD U.S. economic growth prospects appear strong enough for the Federal Reserve to proceed with gradual interest rate rises but the central bank is monitoring an increase in long-term U.S. government borrowing costs, Fed Vice Chair Stanley Fischer said on Friday. Fischer said the Fed was “reasonably close” to achieving its employment and inflation goals, and the case for tightening monetary policy “quite strong” as …

Daily Currency Report 2016-11-11

USD The dollar jumped to its highest level in two weeks and continued to reverse brief initial losses from the surprise election of businessman Donald Trump as U.S. president, as markets awaited more clarity on his economic policy. Trump’s shock victory over Hillary Clinton initially triggered a massive selloff in risk assets – sending the yen, euro and Swiss franc higher – before turning around in …

Daily Currency Report 2016-11-10

USD The US Dollar, Mexican Peso and world stocks traded in a choppy fashion yesterday, but fell short of fears of the kind of shock that wiped trillions of Dollars off world markets after the Brexit vote. US stocks rallied late on Wednesday, a turnaround from overnight losses caused by the dramatic victory of Republican Donald Trump. Investors bought up stocks in sectors that …