News

Morning Report: 21 July 2017

GBP Sterling weakened yesterday, but did see a minor rally against USD after news emerged of further political and legal turmoil for the Trump Presidency. June’s Retail Sales report showed an encouraging 0.6% expansion in retail sales, allaying concerns about a collapse in consumer spending, the most important element in the UK economy. However, the […]

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Morning Report: 20 July 2017

GBP Sterling traded flat against USD and EUR yesterday, as markets entered somewhat of a lull ahead of today’s European Central Bank meeting. However, the pound has started this morning positively, being boosted by an above-forecast June Retail Sales report from the Office of National Statistics. After Tuesday’sInflation figures came in under expectations, the 0.6% rise […]

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Morning Report: 19 July 2017

GBP Sterling weakened significantly yesterday after inflation data for June fell well short of expectations, taking the pressure off the Bank of England to hike interest rates in the near future. Year on Year Consumer Price Index inflation eased to 2.6%, down from 2.9% previously, and in line with the Bank of England’s last Inflation Report, […]

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Morning Report: 18 July 2017

GBP Sterling was on the back foot against USD yesterday, but has recouped all of its losses overnight amid a broad selloff on the greenback. Political intrigue is in the headlines this morning, with Theresa May reportedly due to warn her cabinet against using the media to undermine each other, after Philip Hammond was the […]

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Morning Report: 17 July 2017

GBP Sterling made significant inroads against the US dollar on Friday, soaring to a fresh high for the year amid unexpectedly poor US data. Brexit talks resume in Brussels today, with Philip Hammond calling for a transitional arrangement to soften whatever blow is coming to externally focussed businesses. Further sterling relevant headlines seem likely this […]

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Morning Report: 14 July 2017

GBP Sterling had another eventful day yesterday, rallying against both EUR and USD after senior Bank of England Monetary Policy Committee member Ian McCafferty said that he believed the Bank should exit its quantitative easing programme earlier than current consensus would seem to indicate. McCafferty voted to raise interest rates in June and is known […]

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Morning Report: 13 July 2017

  GBP Firm labour market data in the UK and general dollar weakness helped drive a rebound in GBPUSD yesterday, recuperating 1%. The July Labour Market Report from the Office for National Statistics showed that Unemployment had fallen once again, to just 4.5%, the lowest level since 1975. For those inclined to criticise Unemployment as […]

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Morning Report: 12 July 2017

GBP Volatility on FX majors remained low yesterday, although sterling did continue to edge lower against USD. Much anticipated speeches from Ben Broadbent and Andy Haldane passed without incident, with Broadbent steering deliberately clear of monetary policy issues. The Conference Board’s Leading Index, a composite of forward looking economic indicators, read -0.1% for May, slightly […]

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Morning Report: 11 July 2017

GBP Very little volatility in the pound yesterday in the absence of any headline data, and despite a number of political developments. Most prominently, we saw the rejection of UK Prime Minister Theresa May’s initial offer on European Union citizen’s rights by senior Members of European Parliament including Guy Verhofstadt, the senior co-ordinator for Brexit. Elsewhere on […]

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Morning Report: 10 July 2017

GBP Sterling was hit by yet more poor data releases on Friday, rounding off a week of bad news regarding the economy. Industrial, Construction, and Manufacturing Output all contracted, disappointing general forecaster expectations for at least modest growth in the three releases. The United Kingdom’s Goods Trade Balance deficit also increased unexpectedly, as imports, particularly […]

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Morning Report: 7 July 2017

GBP The action was in fixed income and equities yesterday, which both sold off while sterling found some space to rally slightly vs USD. The pound did remain under pressure against the euro however. There were no headline data releases of note, but today’s calendar is considerably more lively. Halifax’s House Price Index will be […]

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Morning Report: 6 July 2017

GBP Worrying signs continued to emerge about the state of the economy yesterday, but sterling held up well and even managed to eke out marginal gains versus USD and EUR. The Services Purchasing Managers’ Index was 53.4 versus 53.8 previously and a median forecast of 53.5, a small miss that should be viewed in the […]

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Morning Report: 5 July 2017

GBP Yesterday’s Fourth of July holiday in the US made for a quiet session, and sterling traded flat against USD and EUR, only breaking lower versus the single currency this morning. The Construction Purchasing Managers’ Index fell to 54.8 from 56.0, reflecting a slightly lower rate of reported activity growth in the sector. The British […]

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Morning Report: 4 July 2017

GBP Sterling weakened significantly versus USD yesterday, as the greenback finally showed signs of life, and political back and forth continued over public sector pay. This morning sees the choppy trading in sterling continue, as two Bank of England rate-setting members gave opposing views on the outlook for monetary policy in the UK. In an interview […]

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Morning Report: 3 July 2017

GBP After several weeks of low volatility, G10 currencies were on the move last week as markets readjusted assumptions about central bank policy, allowing sterling to strengthen against the beleaguered US dollar. This morning at 09:30 BST monthly Manufacturing Purchasing Managers Index data will be released, and is likely to show a strong level of […]

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Morning Report: 30 June 2017

GBP Sterling saw further consistent gains versus USD yesterday while trading flat against the euro, showing price action typical for the week as a whole. Money and Credit data from the Bank of England showed the extent to which consumer spending was expanding in the UK, as warned about by the Bank’s Financial Policy Committee […]

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Morning Report: 29 June 2017

GBP Sterling surged to a fresh post-election high against USD yesterday after Mark Carney said that he was prepared to raise interest rates if economic circumstances justified it, particularly business investment. The statement from the Bank of England Governor was the central banker equivalent to saying he would put away his umbrella if it stopped […]

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Morning Report: 28 June 2017

GBP Sterling was able to benefit from the broad sell pressure seen on USD yesterday, but sold off against the euro. The Bank of England’s Financial Policy Committee released the findings of its latest Financial Stability Report, and raised the capital requirements for banks as it warned debt levels were becoming elevated to the point […]

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Morning Report: 27 June 2017

GBP Aside from one minor wobble in the middle of the session, sterling was again quite stable against USD and EUR yesterday. Politically, the major headline stemmed from news that the Conservative Party finally managed to strike a deal with the Democratic Unionist Party, which enables the Conservative’s to stay in power as a minority […]

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Morning Report: 26 June 2017

  GBP Sterling is trading slightly up this morning, after an uneventful week last week. The negotiations process for Brexit remains a slow-burn political drama, with headlines this morning focusing on Theresa May delivering more detail on her proposed solution for the rights of EU workers in the UK. Mortgage Approvals from the British Banking Association […]

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Ranko Berich

Ranko Berich

Ranko Berich is Head of Market Analysis at Monex Europe. He is a respected macroeconomic commentator, combining incisive market insight with a deep understanding of global economic and political events.

Ranko leads our team of analysts, providing commentary and insight on the markets as news breaks.

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