News

Morning Report: 19 September 2017

GBP Sterling pared back some of its recent progress against the US dollar yesterday, as Mark Carney added a spot of finesse – or ambiguity – to last week’s hawkish central bank rhetoric. The Bank of England Governor maintained the general tone of last week’s hawkish Monetary Policy Committee Minutes and subsequent speeches, including perennial […]

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Morning Report: 18 September 2017

GBP Sterling had a decisive week last week, breaking clearly above its post EU referendum trading range against the US dollar, and also rallying against the euro. Faster than expected inflation and a series of hawkish signals from the Bank of England were the drivers for the move, and so today’s speech by Mark Carney […]

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Morning Report: 14 September 2017

GBP After sterling surged to a high for the week in the wake of Tuesday’s inflation figures, yesterday’s morning report noted that the week was far from over for the pound, and the statement remains relevant today, with GBPUSD having suffered a significant reversal yesterday to trade roughly unchanged compared to Tuesday morning as of the time of writing. […]

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Morning Report: 13 Septemer 2017

GBP Sterling rocketed to fresh highs for the year against USD yesterday, after August inflation data showed price growth accelerating across all of the major indices released by the Office for National Statistics. The headline Consumer Price Index rose from 2.6% year on year to 2.9%, near the top of the Bank of England’s central […]

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Morning Report: 12 September 2017

GBP Sterling saw some intraday volatility against the dollar, but appreciated steadily against the euro yesterday, suggesting that sterling’s long downwards trend against the single currency is finally facing a substantial challenge. Brexit legislation intended to withdraw the UK from the EU and translate elements of EU law to domestic statutes passed its second reading […]

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Morning Report: 11 September 2017

GBP The pound opened lower against the dollar as the greenback gains momentum amid risk on sentiment where safe havens fell and equities futures rose over the Asian session. GBPEUR has strengthened over the last two weeks as sterling continues to shrug off negative headlines about Brexit, which, in the absence of any major progress […]

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Morning Report: 8 September 2017

GBP Sterling made inroads against the beleaguered US dollar and sold off against the euro, but on the whole the pound was out of the spotlight yesterday. Aside from the Halifax House Price Index, which showed annual house price growth pickup up across the UK, no headline data was released. Today’s calendar is significantly livelier, […]

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Morning Report: 7 September 2017

GBP Although still generally continuing its recovery which began a fortnight ago, sterling is retracing this morning against most of its peers, despite a fairly positive House Price Index report from Halifax. The release showed house prices in the UK having increased 1.1% last month, which was the largest increase since January. That aside, there […]

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Morning Report: 6 September 2017

GBP Sterling managed to recover firmly from an initial drop after weak services sector survey data. The Services PMI showed that growth in the sector fell to an 11-month low as survey respondents noted that subdued client demand and heightened uncertainty about the domestic economic outlook had weighed on business activity growth in August. Nonetheless, […]

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Morning Report: 5 September 2017

GBP The pound remains slightly upbeat despite poor construction Purchasing Mangers’ Index (PMI) data yesterday. PMIs are forward looking survey datasets, which incorporate business expectations and orders in the sector. According to yesterday’s data, conditions remained lacklustre in the sector in August, especially within commercial development, which fell at the fastest pace since July 2016. […]

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Morning Report: 4 September 2017

GBP Sterling traded flat overnight, as investors and market participants digested the latest escalation of tensions on the Korean peninsula. Friday did see sterling strengthen against both EUR and USD, amid weak releases in the US and central bank intrigue in the eurozone. Britain’s own domestic woes pale in comparison somewhat, but over the weekend Theresa May’s […]

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Morning Report: 31 August 2017

GBP Sterling closed flat against USD, but did steadily appreciate against the euro yesterday. Money and Credit data from the Bank of England was released without incident, showing Mortgage Approvals creeping up slightly, while lending to private non-financial businesses put in a second strong month of expansion. Interesting news emerged from Theresa May’s trip to […]

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Morning Report: 30 August 2017

GBP Sterling reached a fresh high for the month against USD yesterday, before reversing direction and closing the day lower, extending its losses this morning. Political back and forth continued between European and UK politicians over the UK Government’s release of position papers for Brexit negotiations last week. European Commission President Jean-Claude Juncker said that […]

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Morning Report: 29 August 2017

GBP Sterling traded sideways against the euro yesterday, but firmed up slightly against USD, which had a rough start to the week. This morning’s data has included a surprise contraction for the Nationwide House Price Index, which fell 0.1% after last month’s 0.2% increase. This brought year on year house price growth down to 2.1%, […]

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Morning Report: 25 August 2017

GBP Sterling managed to shrug off the release of worrying revised growth data for the second quarter to close largely unchanged against the greenback and euro, although some intraday volatility was seen. Yesterday’s GDP data showed economic growth unchanged at 0.3% up on the quarter, but the details of the report were concerning. Specifically, Business […]

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Morning Report: 24 August 2017

GBP Sterling fell to fresh, eight year lows against the euro yesterday, prompting much hand wringing and analysis in the media and financial circles. In reality the drivers that have taken the pound to historic lows have been in place for several months, including economic and political uncertainty, but also euro strength driven by improving […]

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Descomponiendo el tópico de este año en Jackson Hole: los bancos centrales podrían estar alejándose de un mandato estricto de inflación

Unos mandatos de política monetaria flexibles La reunión anual de los banqueros centrales en Jackson Hole se lleva a cabo esta semana y el tópico de este año es el “fomento de una economía dinámica global”. El término “dinámico” se refiere, desde nuestro punto de vista, a que los bancos centrales podrían debatir si deberían […]

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Morning Report: 23 August 2017

GBP Sterling is damned if Theresa May does compromise on Brexit negotiations, and damned if she doesn’t, if the last 24 hours of price action is anything to go by. News emerged yesterday that May’s Government is willing to concede EU officials and judges could play a role in settling disputes, a direct walking back […]

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Morning Report: 22 August 2017

GBP Sterling was utterly routed by the euro yesterday, reaching its lowest level against the single currency in seven years, though it did pop marginally higher against USD. However, political posturing from the Government around ongoing Brexit negotiations is doing nothing to increase longer term confidence in sterling at the moment. Position papers released by the […]

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Morning Report: 21 August 2017

GBP Sterling closed lower against the euro and flat against USD on Friday, after having a bruising week despite several positive data releases. This morning the Rightmove House Price Index was released, and showed a 0.9% contraction in house prices in August, leaving year on year growth at 3.1%, 1.9% in London. This will be […]

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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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