Daily Report
Daily Report: 15th December 2021
The Pound has continued to build on its positive momentum against both the Euro and Dollar. This morning, UK GDP showed that the economy shrank by 2.6% in November which was caused by increased lockdown restrictions. However, this was better than a 4.6% contraction that was forecast. Both UK industrial and manufacturing production disappointed the market though which limited any further gains. The ECB Monetary Policy Meeting Accounts published yesterday showed that members were concerns about the strength of the Euro as it could have a negative impact on inflation. German economy minister Altmaier believes that economic growth will [...]
Previous Daily Reports
Daily Report: 14th December 2021
The Pound has strengthened against both the Euro and the Dollar. Optimism remains about the UK’s vaccine rollout when compared to other countries. Following several comments from MPC members, negative interest rates look less likely to happen by March which has also given Sterling a boost. Prime Minister Johnson [...]
Daily Report: 13th December 2021
The Pound has strengthened in the last 24 hours as Bank of England Governor Bailey downplayed negative interest rates being introduced in the near future calling them ‘controversial’. He also mentioned that the central bank will wait for economic data to be released to see how the economy is [...]
Daily Report: 12th December 2021
The Pound has strengthened against the Euro and the Dollar as the market is paying less attention to the economic impacts of the third lockdown despite Chancellor Sunak highlighting them yesterday. MPC member Tenreyro has mentioned that the Bank of England is still reviewing negative interest rates as a [...]
Daily Report: 11th December 2021
Sterling lost over 0.5% against the dollar, but remained steady against the EUR in early trading. GBP/USD has fallen for 4 consecutive days amid dollar demand as U.S bond yields rise. Speaking on Sky news this morning, Nadhim Zahawi minister for vaccine deployment said Britain will have offered Covid [...]
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