News

Morning Report: 15 August 2018

GBP. Yesterday’s labour market data did little to further sterling’s morning rally despite the headline unemployment rate falling to its lowest level since 1975. The reasoning behind this is because the 4.0% unemployment figure did not filter through into growth in Average Weekly Earnings, which moderated from 2.5% to 2.4% in June. With the Bank […]

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Morning Report: 14 August 2018

GBP. The markets started today relatively calm as the Turkish lira depreciation has taken a back foot. With risk-off sentiment slowly unwinding in Asian trading this morning, sterling has taken the front foot ahead of labour market data released at 09:30 BST. The ILO measure of unemployment has reported a multi-decade low in the UK […]

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Morning Report: 13 August 2018

GBP. Sterling has traded downwards for the last 7 days but is holding its open this morning. Last week’s Gross Domestic Product release for Q2 did little to stem sterling’s slide, as, despite the quarterly reading being on target at 0.4%, June’s month-on-month reading slipped slightly below the 0.2% forecast, at 0.1%. The key for […]

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Morning Report: 10 August 2018

GBP. Sterling continued its decline against the dollar yesterday, despite a fairly positive start to the trading day. The afternoon’s dollar strength drove GBPUSD to post a sixth consecutive day of losses, a trend that has continued this morning. The release of Q2’s Gross Domestic Product may offer support for sterling today, as the 09:30 […]

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Morning Report: 09 August 2018

GBP. Sterling suffered the worst from the dollar rally yesterday out of the G10 currencies. This morning sterling hasn’t started strongly, especially when measured against the euro as it dipped to fresh 11-month lows, but has since clawed back some early losses. Brexit sentiment continues to wain on sterling, and with no headline data nor […]

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Morning Report: 08 August 2018

GBP. With little top-tier data and a lack of sterling headlines, GBPUSD rallied due to the general unwind of dollar strength in the morning of yesterday’s session. The only things of note yesterday were; Monetary Policy Committee member Ian McCafferty spoke about the uncertainty of QE’s withdrawal impact on radio, data suggesting starting salaries in […]

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Morning Report: 07 August 2018

GBP. Sterling was the worst performing G10 currency against the dollar yesterday, depreciating nearly half a percentage point. The weekend’s Brexit headlines set the tone for sterling which started trading downwards in the morning session, and a swathe of dollar strength in the afternoon, which sent EURUSD lower, pushed sterling’s decline onwards. This morning, the […]

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Morning Report: 06 August 2018

  GBP. It took Bank of England Governor Mark Carney to discuss Brexit possibilities on Radio 4 last Friday for sterling to reach a fresh 7-week low following a dovish hike on Thursday. Carney stated that the possibility of a no-deal Brexit is uncomfortably high, and developments over the weekend have done little to shake […]

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Morning Report: 03 August 2018

GBP. Super Thursday didn’t prove “super” for sterling, which eventually depreciated by 0.84% against the dollar. Despite hiking interest rates 25 basis points to 0.75%, dovish undertones by Bank of England Governor Mark Carney in the press conference caused sterling to fall. Carney stated that the marginal tightening by the BoE was only to keep […]

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Morning Report: 02 August 2018

GBP. Finally, the day sterling has been waiting for all week arrives; Super Thursday. The rare occurrence, where the Bank of England releases their interest rate decision, an inflation report and Bank of England Governor Mark Carney takes questions from the press. With little top tier data, sterling investor’s attention has been firmly on today’s […]

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Morning Report: 01 August 2018

GBP. Sterling’s rally early in yesterday’s session did not prove durable, retracing back to its opening level after a slump in the afternoon. With data being sparse, markets are preparing themselves for the Bank of England’s “Super Thursday” tomorrow with a fresh inflation report, a press conference and interest rate announcement, for which markets are […]

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Morning Report: 31 July 2018

GBP. Sterling had an uneventful day yesterday, drifting slightly higher against the US dollar while losing ground to the euro. The Bank of England released money and credit data, which showed headline M4 Money Supply falling by 0.3% in June. Net lending to individuals remained high, as did Mortgage Approvals, indicating UK consumers remained willing […]

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Morning Report: 30 July 2018

GBP.  GBPUSD fell 0.03% against the dollar on Friday; a marginal move considering the lack of data released for sterling. However, this week looks set to be more interesting data wise as central banks come back into the market limelight. The Bank of England will release their latest monetary policy decision on Thursday, with the market […]

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Morning Report: 27 July 2018

GBP. Sterling took a hit yesterday, as markets focussed on Brexit news in the absence of data. EU Chief Negotiator, Michel Barnier, rejected the idea of a non-EU member collecting tariffs on behalf of the EU – a key part of Theresa May’s free trade agreement for goods outlined in the divorce bill. With 12 […]

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Morning Report: 26 July 2018

GBP. Despite parliament ending for summer recess on Tuesday, Brexit developments remain ongoing as Brexit Secretary Dominic Raab meets Michel Barnier today. Politico notes that Raab has met the EU’s Chief Negotiator, Barnier, more times in the last 8 days than his predecessor Davis did in 6 months. The UK’s Financial Service sector’s access to […]

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Morning Report: 25 July 2018

    From: Simon Harvey Sent: 25 July 2018 08:23 To: Bart Hordijk; Carlos De Donesteve; Gonzalo de la Torre; Maria Translatium; Ranko Berich; Traders Subject: MR 250718     GBP. Sterling continued its incremental recovery against the dollar yesterday, eventually finishing the session up 0.34% against the greenback. Brexit headlines were dominated by Theresa […]

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Morning Report: 24 July 2018

GBP.  In a fairly uneventful day, sterling lost out as dollar strength kicked off once again. Brexit headlines were knocked back and forth regarding preparations for a no deal scenario as Prime Minister Theresa May travelled to Newcastle to promote the ‘Northern Powerhouse’ scheme. The proposal aims to bring growth back to the historic manufacturing sectors […]

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Morning Report: 23 July 2018

GBP.  Sterling was glad to see the weekend after a torrid last week. Political risk and underperforming data stimulated a 0.65% depreciation over the course of the week, and without Friday’s rally, the figure would have painted a drearier picture. Theresa May clutched at straws until Labour defectors propped up her leadership, pushing harder Brexit […]

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Morning Report: 20 July 2018

GBP.  GBPUSD has been teetering on the precipice of fresh 2018 lows all week, as political risk has built, and yesterday’s release of underwhelming Retail Sales figures for June added the cherry to the top of an unappetising cake, causing sterling to eventually reach the lowest level since September last year. Last month’s Retail Sales […]

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Morning Report: 19 July 2018

GBP.  Yesterday’s release of the Consumer Price Index measure of inflation in June compounded souring sentiment over holding sterling. Expectations were high, with the lag from higher oil prices earlier in the year likely to boost the headline figure, along with a rebound in consumption. However, the release suggested no Month-on-Month change from May with […]

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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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