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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...

Weekly brief 20 Jan 2023 1 minute read

Recession fears trouble markets

It has been a fairly solid week for UK data and the pound, with GBP/USD moving within touching distance of the December high at 1.2447, before slipping back towards 1.2300 amidst a broader market decline (see USD). Sterling also marked some worthy gains...

Weekly brief 13 Jan 2023 1 minute read

US inflation declines for the third straight month

It has been a light data calendar for the UK over the past week, with only low-impact economic data released, and markets having to live off the odd scrap of political news, such as reported progress on the Northern Ireland protocol between the UK and the Euro area...

Weekly brief 06 Jan 2023 1 minute read

A stronger US economy. Again.

Rishi Sunak gave his first keynote speech on policy since becoming prime minister, earlier in the week. During his speech, he asked the public to consider his ‘five promises’ on which he should be judged by at the next election...

Weekly brief 25 Nov 2022 1 minute read

Will the latest US employment report highlight emerging weakness?

GBP/USD reached an impressive three-month high at over 1.2150 this week, which seems incredulous really given the persistent negativity that seems to surround all things to do with the UK economy...

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