News

Morning Report: 18 June 2018

GBP. Lenin once wrote that there are decades where nothing happens, and weeks where decades happen, and last week was closer to the latter in terms of FX, central banking and geopolitics. Sterling closed the week substantially lower against USD but did strengthen against the euro. This morning’s political headlines are focussing on NHS spending, […]

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Morning Report: 15 June 2018

GBP. Sterling managed to stem its losses against the greenback relatively well yesterday after rallying in the morning off the back of strong Retail Sales data. The British consumer has continued to outpace forecasts with their spending, as yesterday’s UK retail sales for May showed 3.9% growth year on year, which is more than double […]

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Morning Report: 14 June 2018

GBP. Sterling made minor gains against the dollar yesterday, despite two negative shocks coming throughout the trading day. Yesterday at 09:30 BST UK inflation data was released with the headline Consumer Price Index reading 2.4% YoY, showing no change from April, with Core CPI posting 2.1% YoY for May. The recent decline in inflation seems […]

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Morning Report: 13 June 2018

GBP. Sterling closed flat against the US dollar yesterday, with two short bursts of strength in the morning and afternoon ultimately proving transitory. Theresa May won yesterday’s much anticipated House of Commons vote on amendments to Brexit legislation after the PM made guarantees personally to rebel lawmakers within the Conservative party that their concerns would […]

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Morning Report: 12 June 2018

GBP Sterling posted losses against both the dollar and the euro yesterday, with news headlines focusing on Brexit uncertainty and the current government’s ability going forward with negotiations. However, the main driver of sterling’s losses came after UK manufacturing data posted a shocking 1.4% decline for last month, representing the biggest month-on-month fall in over […]

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Morning Report: 11 June 2018

GBP Sterling contained its losses against USD fairly well on Friday, making gains against the euro. With a light data calendar last week, Friday’s main news came from Brussels where the EU’s chief Brexit negotiator, Michel Barnier, rejected the idea of applying a “backstop” solution to the whole of the UK. The controversial safety net, […]

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Morning Report: 8 June 2018

GBP. Sterling made minor gains against the dollar yesterday in another day of sparse data. Yesterday Bank of England Deputy Governor Dave Ramsden said recent data supported the central banks view that Q1’s sharp slowdown in growth would prove temporary. Ramsden went on to say that a period of weak growth in wages appeared to […]

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Morning Report: 7 June 2018

GBP. Sterling made minor gains against the dollar yesterday in the absence of top-tier data releases. UK media continue their focus on Brexit developments, with today’s news on the division between Theresa May and Brexit Secretary David Davis over plans regarding the Irish border. With May expected to release plans for a “backstop” customs option […]

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Morning Report: 6 June 2018

GBP. Sterling rebounded yesterday, as data suggested that the UK economy was rebounding after a slow first quarter. The British Retail Consortium released its latest Retail Sales Monitor, which showed like for like sales rising 2.8% year on year, a reassuring rebound after April’s dire 4.2% contraction. Markit’s Services Purchasing Managers Index also rose faster […]

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Morning Report: 5 June 2018

GBP. Sterling’s mini-rally seen in the back-end of last week stuttered yesterday, despite positive data from the construction sector in the morning. Data from the Purchasing Managers Index showed a 52.5 reading- with any number above 50.0 indicating an expanding sector- marking the sixth time in the past seven months the reading has been positive, […]

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Morning Report: 4 June 2018

GBP. Sterling gained on the dollar last week, with a surge on Friday as it topped the G10 currency board. With little headline news over the weekend, apart from The Sunday Times reporting that Whitehall officials have drawn up contingency plans for various Brexit scenarios, including a worst case where imports descended into chaos and vital supplies were disrupted. […]

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Morning Report: 1 June 2018

GBP. Sterling made gains against the dollar yesterday despite little in the way of data and market-moving headline news. UK politics remains focused on Brexit amidst stalling negotiations, with the independent reporting that left-wing supporters will tour Britain campaigning to convince Jeremy Corbyn to oppose the referendum result. This comes following a week of high […]

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Morning Report: 31 May 2018

GBP. Sterling made steady progress against the dollar yesterday in the absence of any top-tier data. Europe’s biggest industrial companies including the likes of BP, Vodafone and BMW warned Theresa May that they will not invest in Britain as long as Brexit uncertainty remains, although the news had no immediate effect on sterling. The delegation […]

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Morning Report: 30 May 2018

GBP. Sterling lost ground to the dollar yesterday with Brexit headlines dominating UK specific headlines, although most losses came as markets re-evaluated positions based on increased political risk within the Eurozone. Doubt has been cast over Theresa May’s deal on using technology to overcome the Irish border situation, with manufacturers claiming similar technology used at […]

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Morning Report: 29 May 2018

GBP. Sterling had a quiet start to the week yesterday, as the UK enjoyed a Bank holiday. With little in the way of top-tier data for sterling until Friday’s Manufacturing Purchasing Managers Index, the market focus will likely be on Brexit negotiations ahead of the Brussels summit on 28-29 June. The Financial Times reports that […]

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Morning Report: 25 May 2018

GBP. Sterling made gains against most G10 currencies yesterday except CHF and JPY, which were fuelled by an increased market appetite for safer currencies. Today has the potential to be a decisive day for sterling, with the second reading of Gross Domestic Product at 09:30 BST. Bank of England policy makers, including Governor Mark Carney, […]

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Morning Report: 24 May 2018

GBP. Sterling performed well against a strengthening dollar yesterday, until the release of the Consumer Price Index data which signalled a further slowdown in UK inflation. The CPI release saw inflation continue to cool, with the 2.4% reading being the lowest level in a year. Although this news provides some relief to an economy that […]

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Morning Report: 23 May 2018

GBP. Sterling held steady yesterday, fending off a surge in dollar strength in the afternoon session but has started this morning solidly on the back foot, in particular against the US dollar. Mark Carney and other Monetary Policy Committee members testified to Parliament’s Treasury Committee yesterday, with little new information released. However, one item of […]

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Morning Report: 21 May 2018

GBP. Sterling contained its losses during another week of broad dollar strength last week, with most of its losses occurring on Friday. This week’s data has the potential to be decisive for the UK economy with the Consumer Price Index released on Wednesday and Retail Sales out on Thursday. Bank of England economists will be […]

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Morning Report: 18 May 2018

GBP. Sterling was the sole currency to make gains against the dollar out of the G10 currencies yesterday, after jumping in the early hours of the morning but modestly paring gains as the day went on. The news of the day came in the way of a “backstop” being agreed by Ministers, which would see […]

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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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