Sterling continued to decline amid the likelihood of a no-deal Brexit. The British currency is trading at the lowest level since March 27. Over the weekend, it was announced that the Chancellor of the Exchequer was preparing to release GBP 1 billion to help the country prepare for a no-deal Brexit, which he called a

The price of crude oil rose slightly after Iran captured a British tanker at the Strait of Hormuz. The Iranian government said that the ship had violated international maritime rules. Iranians said that the tanker had collided with an Iranian fishing boat. This new seizure came two weeks after the UK captured an Iranian ship

The price of crude oil declined sharply in overnight trading after US Secretary of the State, Mike Pompeo said that Iran had approached the US for talks. While not much information was shared, investors interpreted this to mean that the US could ease the sanctions it has put in place with Iran. This would then

UK macro focus During the upcoming trading week the United Kingdom economy is heavily in focus as we see the release of Employment, Unemployment, Wage, Retail sales and Inflation data for the month of June. The upcoming Conservative party leadership race between Boris Johnson and Jeremy Hunt also reaches its conclusion, placing the emphasis on

Global stocks were mixed today after China released its economic data for the second quarter. The data showed that the country’s economy expanded by 6.2% in the second quarter. This was in line with what investors were expecting but lower than the first quarter’s growth of 6.4%. It was the lowest growth rate since 1992

Chinese stocks rose even as data from China supported the economy’s weakening. Data from the statistics office showed that the GDP slowed in the second quarter to 6.2%. This was in line with expectations. In the first quarter, the economy grew by 6.4%. The quarterly growth was the slowest in more than 27 years and

CHF and EUR are the top G10 FX gainers today, up 0.24% and 0.14% vs the dollar while JPY and AUD are the top losers, down -0.07% and -0.06% vs the dollar. The Emerging Asian currencies moved little as investors awaited Federal Reserve Chairman Jerome Powell congressional testimony for clues on near-term United States monetary

USD and CHF are the top G10 FX gainers today while AUD and NOK are the top losers, down -0.55% and -0.37% vs the dollar. Cable hit a 6-month low on dollar rally and Brexit worries. Rally in the greenback was due to market scaling back Fed rate cut bets. The euro dipped to 3-weeks

The Japanese yen was unchanged in the Asian session after the country released the household spending data. In May, spending rose by an annualized rate of 4.0%. This was better than the consensus estimate of 1.4% and April’s increase of 1.3%. On a MoM basis, spending increased by 5.5%, which was better than the expected