Commodities, Indices, Forex, General

Markets Resilient, Oil Slips...

George Walker, Friday, 30 November 2018

The Bank of England’s view is that Britain risks suffering an even bigger hit to its economy than during the global financial crisis 10 years ago if it leaves the European Union in a worst-case Brexit scenario in four months’ time. Taking all this into account, the UK and German signature Indices were little changed with the stand out weekly performance coming from Wall Street.

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Market Event, Forex

Framework Agreed In Principle

Michael Baker, Thursday, 22 November 2018

The pound has jumped today as a draft declaration setting out the framework for future relations between the EU and UK has been agreed on both a negotiator and political level.

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General, Market Event, Forex

‘Brexit’ Reaches Boiling Point

Michael Baker, Friday, 16 November 2018

It’s been 875 days since the EU referendum vote, 596 days since the UK triggered article 50 and there are 134 days left before the UK formally withdraws from the European Union. Recent negotiations suggested an orderly departure for the UK had been agreed, but today was anything but orderly.

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General, Market Event, Forex

Brexit Update: UK plays “review mechanism” card

Michael Baker, Wednesday, 7 November 2018

Talks are entering the pivotal stages, at the October summit which was once deemed critical in agreeing to a deal, it now appears that the November/December extraordinary will go ahead after all. This hasn’t been agreed but going off cable (GBPUSD) it does give you the feeling that traders are preparing themselves for good news.

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Commodities

Oil under pressure

Michael Baker, Wednesday, 7 November 2018

Oil has been coming under serious pressure in recent times, losing just over 20% in market value in 4 and half weeks. Over the past few months, oil traders were gearing up for further sanctions to hit Iran, in particular, their ability to export oil. Prices have built up but with waivers being granted to big buyers of Iranian oil it seems production being completely strangled has diminished. Couple this with weaker inventories and a surge in US shale production it seems there’s a lot more supply than previously thought.

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Market Event, Forex

Brexit: The Can Kicked Further Down The Road

Michael Baker, Thursday, 18 October 2018

What was initially seen as the make or break summit has now been labelled nothing more than a damp squib. Expecting some further market volatility after last week’s equity sell-off was maybe asking for a little too much. Brexit takes centre stage at the 2-day summit which began today but both parties have dampened hopes of ratifying a deal with the likelihood that talks will continue in hope of reaching an agreement in the coming months.

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