Weekly brief 24 Feb 2023
1 minute read
A surging dollar persists
The recent trend of gradually improving UK sentiment, aided by stronger than expected economic output continued through this week. The latest PMI report saw both the Composite and Services components move strongly back...
Weekly brief 17 Feb 2023
1 minute read
50bps is back on the table. Ouch.
UK data has largely exceeded estimates of late, with stronger employment and (some) growth helping to banish the recent slew of pessimistic forecasts. The latest inflation data also reflected further softness, with headline inflation declining...
Weekly brief 10 Feb 2023
1 minute read
Markets hope for softer inflation
After last week’s sudden drop in the pound, with GBP/USD slipping from a top approaching 1.2500, to briefly testing support below 1.2000 earlier this week, the pound has stabilised over the latter part of the week, rising to 1.2200 at one point on Thursday. The broader pound has fared well,...
Weekly brief 03 Feb 2023
1 minute read
Three hikes over two days, but is the end of the road in sight?
The Bank of England delivered another 50bps rate hike this week, raising UK rates to a 15-year high of 4% in the process. In doing so, the BoE also delivered what we in markets might refer to as a ‘dovish hike’, which may sound like a gymnastics move, but really only suggests...
Weekly brief 27 Jan 2023
1 minute read
A big week ahead
The pound has been contained within a fairly tight trading range over the past week, with GBP/USD only briefly moving below 1.2300 (low 1.2263), whilst also failing to break over 1.2450 after several attempts. The latest batch of data releases have hardly helped the pound’s cause...