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Monthly Executive Briefing: Short-Term Headwind, Long-Term Tailwind

Key points Short-term headwinds strengthen as COVID infections stay high The beginning of the vaccine roll-out provides brighter prospects for the future We see pent-up demand in the household sector where savings rates are still elevated Downside risk factors have come down following the UK-EU Brexit deal and lower...

The Dollar Continues To Decline Amid Rising Shares. The British Conservative Part Has Supported The Brexit Agreement

Stock markets continue to grow amid approval of the Covid-19 vaccine developed by AstraZeneca and the University of Oxford. This move will help the UK to increase vaccinations from Monday next week. Another positive news is the support for British Prime Minister Boris Johnson from the Conservative Party. On...

European Market Open: Higher Start Ahead Of Brexit Vote

FTSE 100 to open higher The FTSE 100 is set to open 0.3% higher at 6610.5 after ending at 6589.9 yesterday. The index briefly touched its highest level since March during yesterday's session before giving back most of those gains to end the day slightly higher. European indices set for positive...

FTSE 100 Spikes On Brexit And US Stimulus Optimism

The FTSE 100 soared on the first day of trading after the UK and the European Union reached a Brexit deal on Thursday. The index rose by more than 2.70%, outperforming all other European bourses. Most companies in the index rose. Banks, however, dropped sharply because the deal left...

No Post-Deal Rally for the Pound as Brexit Negotiations Far from Over

Britain and the European Union have just agreed on a post-Brexit relationship - including, of course, on trade - ending more than four years of uncertainty and political drama. However, with negotiators having less than 12 months to strike a deal, it was never going to be possible to...

Trading Starts To Wind Down, Stocks At Record Highs, Dollar Dips

Markets go quiet in thin holiday trading after US stimulus and Brexit hurdles cleared Pressure on the US Senate after House votes to increase stimulus checks Wall Street sets another record, Nikkei soars, London stocks play catch up Dollar on the backfoot again after rebound falters, pound pares...

Markets Rally after Trump Ends Stimulus Standoff, Alibaba’s Woes, GBP Slides, Oil and Gold Rise

Stocks are off to a solid start after President Trump unexpectedly signed the $900 billion stimulus bill and as the EU begins its mass vaccination program. Trump may have started to feel the public pressure of preventing Americans unemployment aid and for a government shutdown. The unnecessary drama may...

Sterling Retreats after Failing Breakout, Dollar Recovers

Global stock markets are lifted by US fiscal stimulus as well as Brexit trade deal. S&P 500 and NASDAQ are set to extend recent record runs, as indicated by futures. Though, the movements in the forex markets are relatively subdued. Sterling is paring some of last week's gains, after...

UK Johnson welcomes the UK/EU Agreement as new starting point

UK Prime Minister Boris Johnson spoke to European Council Charles Michel today. He tweeted afterwards, "I welcomed the importance of the UK/EU Agreement as a new starting point for our relationship, between sovereign equals." "We looked forward to the formal ratification of the agreement and to working together on shared...

EU approved provisional application of UK trade deal

According to a tweet of the spokesman for the German EU Presidency Sebastian Fischer, EU has approved the provisional application of the EU-UK Trade and Cooperation Agreement as of January 1, 2021. The next step is the final adoption by written procedure tomorrow. https://twitter.com/SFischer_EU/status/1343511362199318531

Stocks Cheer Trump’s Stimulus U-Turn, Pound Muted After ‘Thin’ Brexit Deal

President Trump makes surprise U-turn on virus aid bill, averts government shutdown ‘Thin' Brexit deal leaves many unanswered questions, pound unimpressed Equities buoyed, dollar pressured, gold jumps Relief as US stimulus and spending bill becomes law Trading for the last week of 2020 got off to a bullish start after...

British Pound Holds Steady After Brexit Deal

The British pound rose in early trading as the market reflected on the final Brexit deal that was reached last week. After months of intense negotiations, the EU and the UK finally made concessions that will ensure a close relationship after December 31st. A no-deal Brexit would have led...

Dollar Softens after Trump Signed Pandemic Relief Bill, Sterling Mildly High on Brexit Trade Deal

Dollar, Yen and Swiss Franc are the relatively weaker ones in quiet markets today. Asian investors are lifted slightly after US President Donald Trump signed the massive USD 2.3T package that contains a USD 900B pandemic relief, while also averted government shutdown. Sterling and Euro are the firmer ones...

Last-Minute Brexit Deal Reached. GBP Upside Limited with Good News Already Priced in

A last-minute Brexit trade deal has been reached just before the Christmas. the outcome is largely inline with our expectations. As a no-deal Brexit is avoided, BOE should be able to keep its powder dry for the year to come. The chance of negative interest rate has also been...

GBP/CHF upside capped despite last minute Brexit trade deal

Sterling is so far having very little reaction to the last minute trade deal between the UK and EU. Overall outlook is mixed for now. Details were published in a 1246-page document titled "Draft EU-UK Trade and Cooperation Agreement". European Parliament is expected to meet today to discuss the...

Week Ahead: Brexit Deal Reached as Trump Threatens to Veto Second Stimulus Package

Finally!! On Thursday, Brexit negotiators were able to put the finishing touches on the trade agreement that would allow the UK to leave the EU without tariffs on goods originating in the UK or the EU!  The deal will be implemented before January 1st; however, it still needs to...

GBP/USD – Time for Brexit-Mania?

In the Thursday session, the British pound continues to rally. Currently, the pair is trading at 1.3587, up 0.69% on the day. Markets eye Brexit announcement The anticipation is growing that the UK and the European Union will are poised to announce an agreement on Brexit. Prime Minister Johnson is expected...

Brexit Deal Announcement Imminent, Pound Up

UK and EU on the verge of a historic post-Brexit trade agreement, pound advances Trump imperils stimulus deal, risks government shutdown But markets calm in thin holiday trade; dollar drifts lower, stocks edge up Brexit deal is 'done' Britain and the European Union appear to be on the cusp...

Santa-Boris Arrives Just in Time

Financial markets picked themselves up and dusted themselves of overnight, after a torrid week. Sentiment improved after headlines started appearing that the United Kingdom and European Union have finally reached a provisional Brexit trade agreement. In the United States, weekly Jobless Claims fell to just over 800,000, a much...

Brexit Deal Could be Reached by Christmas: GBP/USD, EUR/GBP

Media outlets have been reporting for the last few hours that “sources” say a trade deal is “imminent”.  Boris Johnson and Ursula von der Leyen have been negotiating directly over the last few days to resolve the final remaining issues.  The holdup continues to be that of fisheries.  What...

FX Year Ahead 2021: Too Much Dollar Pessimism?

It has been year of absolute chaos, but hopefully 2021 will be much calmer as the global economy heals its wounds. The overwhelming consensus in the FX arena is for the US dollar to sink further as the reflation trade dominates, lifting all other boats. The ‘catch’ is that...

Boris Johnson’s Offer Was Rejected. The Market Took A Wait-And-See Approach

European stocks moved up after a rebound in trade supplies. Earlier, the border crossing was blocked due to the worsening epidemiological situation. At the same time, the market got to know about the rejection of Boris Johnson's offer for mutual concessions by the European Union. The EU still refuses...

Virus Scare Eases But Trump’s Stimulus Threat Tempers Mood

Equities on firmer footing as panic over new virus strain subsides further But another danger looms as President Trump unhappy with $900 billion stimulus bill Pound's yo-yo ride continues as hopes rise for pre-Christmas Brexit deal Can Trump scupper Congress' stimulus aid? Equities were on edge on Wednesday even as...

British Pound Rises As Brexit Talks Intensify

The British pound soared in overnight trading as Boris Johnson and Ursula von der Leyen intensified their talks in a bid to reach a Brexit deal. The two are debating on key outstanding issues like fishing and fair-playing field issues. With the UK economy going through its toughest phase...

Markets Little Moved By Trumps Refusal To Sign The Stimulus Bill

With less than a month left to go before he leaves the Oval Office, President Trump caught the markets by surprise threatening not to sign a long-debated Covid-19 relief package which took the Congress several months to agree upon. While he did not say he will veto the legislation,...

Trading Remains Subdued as Some US Data Awaited

Trading remains rather subdued with markets already in holiday mode. Sterling has the potential to explode with wild moves, but we're so far disappointed by the lack of progress in Brexit trade negotiations. The surge in cases of the coronavirus, with threats of a new strain, also kept risk...

EU in final push for Brexit trade agreement

Brexit trade negotiations are still stuck at fishing, after EU rejected UK's last offer. It's believed that progress were made and both sides had political willing. Many issues were close to resolved, except that fisheries remained difficult to bridge. Chief negotiator Michel Barnier said, as he went into a meeting...

Pound Retreats on Brexit Impasse

The British pound has lost more ground in the Tuesday session. GBP/USD is currently trading at 1.3356, down 0.79% on the day. Brexit takes sterling on a roller-coaster It’s been a roller-coaster ride for the pound. GBP/USD gained 2.26% last week, as the pair rose on growing optimism that a Brexit deal...

Market Panic Vanishes Amid Signs Of Brexit Progress

Sharp selloff turns into sharp rebound as UK waters down fishery demands US stocks and sterling stage epic comeback, close only a blip lower Similar story for the dollar, surrenders most virus-mutation gains Vaccines and liquidity are still the name of the game What selloff? US equities and sterling...

British Pound Rises Amid New Lockdown And No-Deal Brexit Fears

US stocks pared earlier losses as traders focused on the new shutdowns in Europe and the new stimulus deal in congress. The Dow Jones ended the day up by 0.30%, paring earlier losses that saw it drop by more than 400 points. The S&P 500 and Nasdaq also closed...