Did Friday mark the end of 2019’s EM rally?

Did Friday mark the end of 2019’s EM rally?

Friday saw Emerging Market currencies broadly sell-off after Eurozone and US data showed a significant slowdown in manufacturing sectors. The rout came after EM currencies began to claw back ground against the US dollar due to the dovish turn by the Fed and easing...

UK labour market continues to shine despite the bleak Brexit backdrop

Despite the unemployment rate hitting a 44-year low, and wages continuing to outstrip expectation, today’s release hints at a faltering labour market in the months to come. UK labour market continues to shine despite the bleak Brexit backdrop but may start to show...

No-deal shakes sterling

Theresa May tries to maintain control of the Brexit process and face down the Cooper amendment, but threats of a no-deal bursts sterling’s bubble. After cracking a fresh 2019 high against the US dollar and an 18-month high against the euro this morning, sterling began...

Bank of England unlikely to budge, but room for a hawkish meeting

Thursday’s Bank of England meeting will likely see the central bank remain in a bit of a Brexit bind, but clarity over the recent downturn in economic data and the future of inflation could prove net hawkish for the market. Brexit uncertainty, a slumping Eurozone...

Draghi is an optimistic dove

A new species has been discovered today in the Governing Council; the optimistic dove. European Central Bank President, Mario Draghi, once again displayed the variety of tones in his plume as he delivered a dovish message, but continuously guided the attention of the...

Tonight’s vote a barometer for parliamentary appetite for May’s deal

If May’s boisterous reception in the commons and tweets from Tory MPs are to be believed, May is more likely to survive tonight’s vote than not. This appears to be the market’s base case, with sterling rallying slightly this morning towards the 1.26 handle against USD...