News

Morning Report: 23 April 2018

GBP. Sterling started last week with post-Referendum highs against USD, only to reverse its momentum and spend the rest of the week heavily on the defensive. Bank of England Governor Mark Carney’s comments about rate hikes was followed on Friday by a speech from the Monetary Policy Committee’s Michael Saunders, who expressed broadly hawkish views on rates and […]

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Morning Report: 20 April 2018

GBP. Sterling had an interesting session yesterday, at first taking poor retail sales data on the chin and rallying slightly, before taking a pummelling overnight as Mark Carney once again raised the prospect of the Bank of England holding rates in May. Carney’s statements to the BBC come after a fairly hawkish previous series of statements, […]

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Morning Report: 19 April 2018

GBP. Sterling took another heavy knock yesterday as the week’s second major data release, Consumer Price Index inflation, missed expectations. Headline CPI inflation fell to 2.5% year on year, significantly lower than the 2.7% expected, while Core Inflation, which excludes fuel, fell to 2.3%. Yesterday’s big inflation miss will be a spanner in the works […]

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Morning Report: 18 April 2018

GBP. Sterling remains below yesterday’s open against both EUR and USD, having reached post Brexit highs against the greenback yesterday morning before selling off after UK labour market data. Although Unemployment fell to a fresh low of just 4.2%, wage growth including bonuses did not accelerate as expected. The week is far from over for sterling, […]

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Morning Report: 17 April 2018

EUR. The euro was out of the spotlight yesterday and weakened against sterling, but took advantage of the continued rout in the US dollar. Aside from a 0.0% month on month print for the German Wholesale Price Index, no major data was released. Today at 10:00 GMT, the widely followed ZEW Economic Sentiment Survey will be […]

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Morning Report: 12 April 2018

GBP Despite a mixed bag of UK data, sterling had another relatively strong day yesterday furthering gains on both the euro and dollar. The UK Trade Balance deficit reduced significantly due to an increase in services exported to the EU, but Industrial Production fell to 0.1% for February. The recent petering out of the industrial […]

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Morning Report: 11 April 2018

GBP The pound was the biggest winner against both the dollar and euro yesterday as it started the day fairly positively due to the announcement of a post Brexit free trade deal between Norway and the U.K. Gains against the euro weren’t as pronounced as the euro clawed back some ground following the European Central […]

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Morning Report: 9 April 2018

GBP Poor data was no barrier for sterling last week, and the pound advanced against both the euro and dollar. This morning Halifax’s House Price Index beat expectations to show a monthly increase of 1.5%, leaving annual growth at 2.7%. Tomorrow morning the British Retail Consortium’s Retail Sales Monitor will be released and will be […]

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Morning Report: 6 April 2018

GBP Sterling weakened yesterday as survey data suggested that growth had slowed to a crawl in the first quarter. Markit’s Services Purchasing Managers’ Index fell to its lowest level since July 2016, immediately after the Brexit referendum. The result echoed similarly grim ones from equivalent indices for Construction and Manufacturing earlier in the week but […]

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Morning Report: 4 April 2018

GBP Most of the action was in equity markets yesterday, with sterling trading only marginally up vs USD and EUR. Overnight the British Retail Consortium’s Shop Price Index was released, and showed reported prices falling by 1%, the biggest fall since February of last year, as food prices weighed down the index as a whole. […]

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Morning Report: 3 April 2018

GBP After an uneventful day yesterday sterling is trading higher against USD this morning, ahead of this week’s calendar of survey releases. This morning’s data included Markit’s Manufacturing Purchasing Managers’ Index, which printed above expectations. Manufacturing PMIs have been slower in Q1 of this year than in Q4 2017, and March’s data, despite being better […]

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Morning Report: 29 March 2018

GBP The pound took a substantial hit yesterday amidst a broad rally in the US dollar, but against most other currencies, overall sterling had a positive day. The main driver for the generally optimistic tone in the pound came amidst reports that progress is being made in Brexit negotiations over the contentious Irish border issue, […]

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Morning Report: 28 March 2018

GBP Sterling struggled against almost the entire G10 yesterday morning, before staging a late recovery late on. Politically in the UK, the “Leave” campaign from the Brexit referendum is under pressure, after it was revealed that they channelled large amounts of funds into a company that controversially used data from social media to influence the […]

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Morning Report: 27 March 2018

GBP Sterling traded higher against the US dollar yesterday morning, and though was quite for the rest of the day. News headlines focused on domestic issues, with little new information on Brexit emerging. Today’s sole release of note was meeting minutes from the Bank of England’s Financial Policy Committee, which passed without incident. USD Fears […]

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Morning Report: 26 March 2018

GBP Sterling is trading up this morning, after a positive week last week that saw faster than expected wage growth figures, positive Brexit headlines, and a mildly hawkish set of meeting minutes from the Bank of England. The first half of this week will be slow in terms of data, with lending figures from UK […]

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Morning Report: 23 March 2018

GBP Sterling briefly surged in the aftermath of yesterday’s 7-2 vote to keep rates unchanged from the Bank of England, but ultimately closed lower against USD and flat against the euro, after the detail of the policy statement and meeting minutes made clear that the BoE had not changed the outlook for policy in any […]

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Morning Report: 22 March 2018

GBP Sterling’s big week continued yesterday, after wage growth printed faster than expected in January and the pound rallied strongly against USD. The latest labour market data from the ONS showed the Unemployment Rate dropping, while Average Earnings rose faster than expected. The most widely reported wage index, which is the three month average including […]

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Morning Report: 21 March 2018

GBP Sterling faced some light sell pressure against the US dollar yesterday, but strengthened against the euro, largely shrugging off an across the board miss for February inflation data. The headline Consumer Price Index was up 2.7% year on year, compared to 3.0% in January, while Core CPI was up 2.4% compared to 2.7% previously. […]

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Morning Report: 20 March 2018

GBP Sterling enjoyed a strong boost yesterday morning as it became clear a breakthrough had been made in Brexit talks. Michel Barnier and David Davis confirmed in a press conference that a deal on a post-Brexit transition period had indeed been struck, removing a substantial source of uncertainty for the UK economy. The concessions made […]

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Morning Report: 19 March 2018

GBP The British pound was generally well bid on Friday, finishing the day higher against all the Major currencies except JPY. This week is bursting with important events for sterling, with Consumer Price Index on Tuesday, Average Earnings and other labour market data on Wednesday, as well as Retail Sales and a Bank of England […]

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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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