News

Morning Report: 20 February 2018

GBP Sterling had a quiet day yesterday, weakening against both the euro and US dollar. Today, Brexit Secretary David Davis will attempt to reassure business leaders in Austria with a speech due at 09:45 GMT. The pre-release of the text from the speech indicates that Davis will set out a variety of industry aims, though […]

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Morning Report: 19 February 2018

GBP Sterling had an eventful Friday, weakening off the back of weak Retail Sales, but finding a modicum of stability later on comments from lead European Union negotiator Michel Barnier expressing optimism about the likelihood of an “orderly” Brexit. Retail sales fell well short of expectations in January, disappointing hopes for a rebound after a […]

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Morning Report: 16 February 2018

GBP The pound strengthened further against the ailing US dollar yesterday, while trading flat against the euro. Amid momentous international events such as the resignation and replacement of South Africa’s President Zuma and the reappointment of Japanese Central Bank head Kuroda, sterling news flow was rather quiet yesterday. Reports circulated that EU officials are considering […]

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Morning Report: 15 February 2018

GBP Sterling advanced against USD yesterday after the greenback fell apart in a hectic afternoon session. Little action was seen against the euro. Boris Johnson made a speech in an attempt to urge Remain voters to see the upside in Brexit, and was universally panned by his intended audience, while offering no new policy detail. […]

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Morning Report: 14 February 2018

GBP Sterling took advantage of yesterday’s dollar weakness, but it’s downwards trend against the euro was interrupted only by a short lived burst of strength after the release of better than expected inflation data. Year on year Consumer Price Index inflation remained at 3%, defying expectations for a slight fall. Although price increases were broad […]

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Morning Report: 13 February 2018

GBP Most of the major currencies had a slow start to the week yesterday, as sterling traded flat against USD and weakened slightly to the euro. This morning’s key event is the release of Consumer Price Index figures from the Office for National Statistics. The monthly figure has been teetering around 3.0%, and although it […]

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Morning Report: 12 February 2018

GBP A disappointing Trade Balance and critical comments by the European Union’s chief Brexit Negotiator Michel Barnier were enough to let the let the sterling bears loose on Friday, and the pound gave back its gains from Thursday’s hawkish Bank of England statements. Over the weekend Visa released its UK spending index, which showed a […]

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Morning Report: 9 February 2018

GBP The Bank of England gave a clear warning it will raise rates sooner than previously expected in yesterday’s policy statement and press conference, giving sterling some broad support after losses earlier in the week. The MPC’s optimism was driven by upgraded growth expectation, a rapidly improving global outlook, and increased confidence that slack is […]

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Morning Report: 8 February 2018

GBP Sterling started yesterday off with a burst of strength, but then retreated back towards week lows against USD, while heading up versus the euro. It’s Super Thursday at the Bank of England today, meaning the latest Inflation Report will be released alongside a rate decision, policy statement, and meeting minutes, and presented by Monetary Policy Committee […]

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Morning Report: 7 February 2018

GBP Sterling closed flat against USD yesterday, quickly recovering after a mid afternoon sell-off. Global equity markets remained in turmoil, with choppy trading patterns continuing overnight. Brexit headlines of the usual size and shape circulated in the major papers, regarding European Commission plans to limit UK access to the single market, as well as requirements […]

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Morning Report: 6 February 2018

GBP Sterling continued to head lower yesterday, while global equity markets were a sea of red last night and the Dow Jones Industrial Average saw its largest ever one day fall. Two main themes weighed on sterling, as ongoing political turmoil was compounded by news that the Services Purchasing Managers Index, which tracks reported output […]

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Morning Report: 5 February 2018

GBP Sterling was dragged down by political headlines over the weekend, most notably by Prime Minister Theresa May who ruled out the possibility of the UK staying in the European Union’s custom Union for good measures. Today at 9:30 GMT we have the Services Purchasing Manager Index, giving us some insights in the sector that […]

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Morning Report: 2 February 2018

GBP Sterling continued to trend upwards against USD yesterday, taking a small pause overnight, but fell back against the euro. UK politics remains in flux, with the various headlines either too tedious, tenuous, contradictory or unsubstantiated to mention in detail. The headlines in the latter half of this week appear to have had a muted […]

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Morning Report: 1 February 2018

GBP Sterling moved slightly higher yesterday, shrugging off the latest political headlines, which include ongoing fallout from leak of Brexit reports, and a potential disagreement over the rights of EU citizens arriving to Britain during the transition period. Today at 09:30 GMT, the Manufacturing Purchasing Managers’ Index, a survey based optimism gauge for the industry, […]

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Morning Report: 31 January 2018

GBP Sterling rallied against both USD and EUR yesterday, shrugging off the latest political infighting after Mark Carney gave a reasonably hawkish assessment of monetary policy prospects in testimony to lawmakers. Speaking to the House of Lords economic affairs committee, Carney called for the Retail Price Index, a statistical relic that has been widely criticised […]

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Morning Report: 30 January 2018

GBP Sterling continued to sell off yesterday, as the global bond market rout deepened and USD benefited, while political dramas continued. David Davis and Michel Barnier traded indirect barbs over the length and nature of the Brexit transition period, while internecine fighting continued among the Conservative Party. This has seen the leak of impact reports […]

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Morning Report: 29 January 2018

GBP Sterling traded flat against USD on Friday and lost ground against the euro, despite Friday’s data including a better than expected print for UK Gross Domestic Product, at 0.5% for Q4 last year against an 0.4% forecast reading. The weekend’s political news included increased dissent from the House of Lords over the EU withdrawal […]

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Morning Report: 26 January 2018

GBP After running rampant over the last two weeks sterling appears to be taking its foot off the pedal a bit this morning. Chancellor of the Exchequer Philip Hammond remarked he hoped the UK and European Union economies would only move “very modestly apart” after Brexit, only to be slapped down by Prime Minister Theresa […]

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Morning Report: 25 January 2018

GBP Sterling benefited from yesterday’s broad USD weakness, but also made inroads against a wide range of currencies including the euro. Optimism about the nature of Brexit, combined with some solid labour market data, meant sterling was able to extend its gains overnight and into this morning, consistently making fresh post-Brexit highs against USD along […]

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Morning Report: 24 January 2018

GBP Sterling is heading for its sixth consecutive week of gains against the greenback as yesterday once again saw improved post-referendum highs, while it also showed most of the other G10 currencies its heels. The move on cable was caused mostly by weakness in the US dollar, although risen hopes for a favourable trade deal […]

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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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