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Daily Market Report 23rd November

The US dollar moved slightly lower yesterday, while sterling received a lift from the latest Brexit news. The BoE’s hawkish comments on UK interest rates may also have provided some support to the pound. Today seems likely to be a relatively quiet end to the week as markets await the outcome of this weekend’s EU summit.

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News Image Daily Report 22nd of November 2018 + Brexit News

PM Theresa May was in Brussels yesterday and she is scheduled to return there on Saturday to finalise a deal on the outline of a future trading relationship with the EU. That, together with the Withdrawal Agreement, is expected to be signed off at a special EU-27 summit on Sunday.

News Image Mid-week report Report 21st - 23rd November

Today’s economic data releases are second tier and so are unlikely to distract attention from Brexit developments or from the ongoing fluctuations in global stock markets.

News Image GBP/EUR & EUR/GBP Update + Brexit News

With market sentiment for GBP/EUR rate on a sideway trend at time of writing - Current key trading level is now around the €1.1280’s. If we see the rate move Higher than this level for a sustained amount of time, then the likelihood of the rate moving into the low €1.13’s will be high. A leadership challenge is still hanging over PM May but the longer it fails to transpire then least likely it will be to happen however some analysts are suggesting that some Tory MP’s are holding off to see how PM May preforms in Europe this weekend when she looks to get the approval for some amendments. Any delay or cancellation of November’s Brexit Summit will most likely be seen as negative for the GBP/EUR exchange rate but on the flip side if she comes back from Brussels with the amendments she needs to keep her cabinet/DUP happy then we could see the GBP/EUR rate move higher once again.

News Image Daily Market Report 16th

Brexiters who are expecting a no confidence vote threshold in PM May will be reached today with the vote to take place on Tuesday.

News Image GBP/EUR + EUR/GBP Weekly Market Report 12th - 15th

GBP/EUR + EUR/GBP Weekly Market Report and Forecast. Time running out for PM May to get a deal done in November.

News Image Crucial 48 hours for May

Significant Irish border news expected from the UK cabinet in the next couple of days.

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