Carney on Brexit
Quote of the day: “Time flies, but you’re the pilot!”
March 8th: Highlights
- BOE Gov Carney testifies to Treasury Select Committee
- UK Retail Sales fall short
- MPC Member Weale Speaks
UK Retail Sales posted +0.1% (down from +2.6% last month). Yesterday, the BoE announced that they could provide billions in emergency support, after a “Leave” vote, if the market needed it. Current odds show 1/3 for “Stay” and 5/2 for “Leave”.
This week’s ECB meeting on Thursday is widely expected to deliver further stimulus measures. As before, in Q4, the key consideration is how much and in what form – the Euro benefitted on the last decision as the additional measures were less than expected. Germany released Industrial Production figures this morning, which were positive at +3.3% (Vs 0.6% expected).
China released Trade Balance data. The Chinese slowdown continues to affect the worldwide economies of trading partner nations and concerns surround the future demand levels from China.
Brent crude managed to advance up to $40 in the afternoon session. The Fed’s Fischer commented that he feels that inflation will move closer to the 2% level when we see the oil price stabilise. So with no end in sight for the oversupply, inflation may remain lower for longer, pushing considerations for the next Fed rate move as far back as June.
Have a great day!
Morning mid-market rates – The majors
85% savings. Job Done. So, what is the secret sauce of the CurrencyTransfer.com marketplace?
How are we innovating?
Well, we are not an expensive bank costing you up to £1,500 on every £50,000 trade. Neither do you ever need to ring around multiple brokers and speak to sales guys. Pretty inaccurate way of shopping around. We help you maximise the value of each transfer. Quite simply, you are in control. Foreign exchange companies compete in a LIVE marketplace to win your business.
Got a question? We’d be delighted to help!
Director of Sales & Operations
t: +44 (0) 20 7096 1036
e: [email protected]