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Weekly Market Analysis September 25th 2017 |
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GBP rebounds after Brexit speech disappointment, EUR and NZD shaken by elections Theresa May disappointed markets with her speech on Brexit on Friday, despite offering the EU payment during a transitional period, which may be enough to get stalled negotiations back on track. Sterling has managed to bounce back strongly today from Friday’s slump, climbing 0.6% to hit €1.1356. GBP/USD is stuck around opening levels at US$1.3499, however. With speeches this week due from Bank of England (BoE) Governor Mark Carney, European Central Bank (ECB) President Mario Draghi and Federal Reserve Chair Janet Yellen, there is plenty of volatility ahead on monetary policy outlooks – and that’s before the data calendar is even taken into account. |
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Today's Rate The rates above are using the British pound (GBP) as the base rate. All rates are for indication purposes only. Prices can vary dramatically based on amount and delivery date. |
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| | "After eagerly awaiting Theresa May’s speech on Brexit on Friday, markets were left disappointed and the pound slumped. Sterling is rebounding from is pre-weekend tumble today, however."  Transfer 24/7 with our currencies direct app   |
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Pound slumps after Theresa May Brexit speech fails to deliver clarity After eagerly awaiting Theresa May’s speech on Brexit on Friday, markets were left disappointed and the pound slumped. Sterling is rebounding from is pre-weekend tumble today, however. |
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Eurozone data boosted EUR, but German election results shake investor confidence With a key German election on the horizon, the euro was on mixed form last week. Data suggested the Eurozone economy continued to improve, but a weak – if successful – performance from Angela Merkel in the polls has unsettled EUR today. |
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US dollar climbs as Federal Reserve announces balance sheet tapering, hints at rate hike The Federal Reserve announced the long-awaited tapering of its balance sheet, while leaving the door open for another rate hike in December. However, tensions with North Korea continued to plague market sentiment, providing a stumbling block for USD. |
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RBA caution softens AUD, NZD tumbles as election ends with hung parliament The Australian monetary policy outlook and New Zealand’s political outlook were in focus last week. The Reserve Bank of Australia (RBA) doesn’t seem to want to join in with the global shift towards more optimistic projections for interest rates, while markets are today coming to terms with the fact New Zealand has been left with a hung parliament after the weekend’s vote. |
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