Category Archives: Economic News

Are Brits Heading for a 2017 Staycation due to the Weak Pound?

staycation-uk-2017
  Article 50 has been triggered, and unless the UK undergoes a drastic change of leadership following the June 8th General Election, Brexit will become a reality. Many Britons are already feeling the effects of the UK’s departure from the EU thanks to the falling value of the pound against such global currencies as the Euro and the US dollar, but what impact is that having on our day-to-day spending habits? The value of the British pound has dropped roughly 15% lower than that of the US Read more

Global Economic News Update

fcexchange-blog
GB POUNDThe pound started the week on the front foot, trading at 1.1585 against the euro, and 1.2448 against the US dollar. On Tuesday the supreme court ruled 8 to 3 that the government cannot trigger article 50 without an act of parliament. MP’s are now pushing for the government to publish it’s “Brexit” plan in a formal policy document, meanwhile the Scottish government will begin setting out its official response to the supreme court ruling. The UK economy expanded by 0.6% in the fourth Read more

Theresa May’s 12-point Key Note Brexit Speech

brexit-1478118_1920
GB POUNDAnother bad start to week for the pound, it started the week trading at 1.1345 against the Euro, and 1.2033 against the US Dollar as fears around “Brexit” are making investors nervous. Theresa May made a key speech at Lancaster house on Tuesday to outline Britain’s negotiation strategy for leaving the EU, many investors fear leaving the single market, the so called “hard Brexit” Inflation in the UK has increased to 1.6%. Rising air fares and higher food prices are the key driver Read more

Latest Economy News

fcexchange-blog
GB POUNDThe pound started the week on the back foot against all of the majors, following Theresa May’s first televised interview of 2017. Mrs May said the UK would have much tighter controls on immigration and secure the best possible trade deal, she said “people who thought the country can keep bits of EU membership were missing the point that it would be leaving". The PM’s comments fuelled fears of a “Hard Brexit” which caused the pound to drop to 1.2138 against the US dollar, and 1.1525 Read more

Global Economy News

fcexchange-blog
GB POUNDThe pound started the week trading at 1.1729 against the Euro (GBP/EUR) and 1.2339 against the US Dollar (GBP/USD). Official figures released on Tuesday showed the UK’s manufacturing purchasing managers’ index (PMI) rose to a two-year high, which allowed the pound to rally against the euro hitting its highest level in two weeks at 1.1810. Meanwhile, Britain and Ireland have set up a new trade network to offset the impact of ‘Brexit’. The British Irish Chamber of Commerce (BICC) Read more

UK Inflation has increased from 0.9% in October to 1.2% in November

board-1193333_1920
GB POUNDThe pound held on to its gains from last week as it started the week trading at 1.1920 against the Euro, and 1.2610 against the US dollar.Inflation in the UK has increased from 0.9% in October to 1.2% in November. This is the highest level since 2014. It is thought that the fall in food prices, higher fuel costs and food price deflation are the key factors behind the rise. The jobless rate in the UK has remained at 4.8%, an eleven-year low, but the number of people in work has dropped to Read more

Raft of Positive Economic Data Coming out of the UK

positive economic data uk
GB POUND The pound started the week on the front foot, trading at 1.1993 against the Euro, and 1.2697 against the US Dollar. The strength of the pound can be attributed to the raft of positive economic data coming out of the UK, and also the Italian constitutional referendum on Sunday. On Tuesday the Financial Conduct Authority (FCA) said it plans to impose stricter rules on financial spread betting products, also known as (CFD’s) contracts for difference. CFD’s allow customers to make huge Read more

Worrying Levels of Credit Card Debt in UK Households

credit card debt uk
GB POUND A mixed start to the week for the pound as it started the week trading at 1.1725 against the euro, and 1.2495 against the US dollar. It quickly began to come under pressure following a report from the OECD (Organisation for Economic Co-operation and Development) who are predicting that growth in the UK will begin the fall over the coming years. They expect growth to slow to 1.2%. The Governor of the Bank of England, gave a warning about the worrying levels of debt in UK households. Figures Read more

PM may seek a transitional deal with the EU as part of “Brexit”

fcexchange-blog
GB POUNDThe pound started the week losing some of last week’s gains trading at 1.1607 against the Euro, and 1.2339 against the US Dollar. On Monday Theresa May hinted that she may seek a transitional deal with the EU as part of “Brexit”. Speaking at the annual CBI conference May said “Obviously as we look at the negotiation we want to get the arrangement that is going to work best for the UK and the arrangement that is going to work best for business in the UK. And I’m conscious that there Read more

Investors are more concerned about Donald Trump being elected than “Brexit”

donald-trump
GB POUND Another good start to the week for the pound as investors are more concerned about Donald Trump being elected than “Brexit”. Sterling started the week trading at 1.1599 against the Euro, and 1.2500 against the US Dollar. The inflation rate in the UK decreased in October, the consumer price index posted a result of 0.9% in October, down from 1.0% in September, the markets reacted to this news and the pound fell 1.2% against the euro, and 0.84% against the US dollar. On Tuesday Mark Read more