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GBP/USD Hits Highest Price Since June 2016


Good morning,


GBP/EUR trading flat in the 1.1200's yesterday, prices were trading between 1.1220-1.1270 for the majority of the day. The lack of data released showed in the price as the GBP/EUR had no aggresive moves througout the trading session on Monday.

G​BP/USD began the week on the front foot with levels achieving 1.3800, the pair had reached a price which had not been seen since June 2016. The U.S had a bank holiday yesterday therefore there was no high impact data released, the UK had a no impact data released either. Negative sentiment surrounding the US has accelerated prices on the upside, with GBP finding momentum over the course of last week. Trump certainly isn't doing anything to help the value of USD and is also some of the reason we are seeing long term highs.

EUR/USD pair resumed its advance after a short period of consolidation mid-European morning, heading towards 1.2300. After a soft start to the day, dollar's sell-off resumed across the board. The absence of relevant data releases let the pair extend their previous gains, and the little figures released yesterday were completely ignored by market participants. The EU November trade surplus came in at €26.3B above the previous €18.9B, but below the expected €22.4B. In the month, import rose 7.3% while exports of goods to the rest of the world posted an increase of 7.7%, pretty solid figures despite the headline miss.

Fact of The Day

In 1969 Forrest Parry, an IBM engineer, had the idea to affix magnetic tape to a plastic card. Every adhesive failed. He went home frustrated. His wife was ironing when he walked in. She suggested he fuse the tape onto the card with the iron. It was a success, and the magstripe card was born

Have a great Week.




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GBP/USD breaks highs


Good morning,

GBP/EUR opened the week at 1.1270 with immediate poor German Factory order figures pushing GBP higher through 1.13 ending up at 1.1340. GBP held around this level all day Tuesday just clipping through the weekly high of 1.1352 with the release of poor EU Current account figures coming out 44.7 expected 45.1. On Wednesday, the UK released poor trade and goods balance figures coming out -4.67 Billion expected -2.6 Billion far worse pushing all GBP gains down to the week opening of 1.1270. Sterling managed to steady itself around this area until Thursday morning the EU released good Industrial production results pushing the pair down to 1.1220. On Friday morning GBP gained back some of its weekly losses when France released some poor CPI figures allowing gBP to rebound back up to 1.1270.

GBP/USD opened last week at 1.3580 trading around this level until Wednesday. UK had good manufacturing and Industrial production figures coming out better than expected. On Thursday the US released poor producer price index and initial jobless claims pushing GBP higher up from 1.3510 to 1.3560. On Friday the pair boosted straight away with good EU figures coming out putting tremendous pressure on the US Dollar. The pair climbed all day pushing through 18-month highs of 1.36. The pair hasn't seen trading around here since the UK Referendum back in June 2016. Late ron in the afternoon the US released more negative data from Retails Sales down MoM and CPI down 0.1%. The pair carried on rising through 1.37 and finishing the week on 1.3744 up 2.0%


EUR/USD opened 1.2040 last Monday struggling to make any progress for the first few days of the week. The pair broke through below 1.20 and was trading around 1.1950. On Thursday afternoon The US released some very poor PPI and initial jobless claims coming out worse than expected allowing the Euro to push back through 1.20 and broke through the high of the week of 1.2060. On Friday the US Dollar got hit again as the breakthrough in coalition talks between Merkel's Christian Democrat Union and Social democrats after 24 hours of solid negotiations which meant the pair could progress further and did up to 1.50% reaching 1.2220 which is the highest seen since end of 2014.

Fact of The Day


GameStation, a UK video game retailer, added a clause to their T&C’s that stated that you surrender your immortal soul when you place an order through their site, to show that people don’t read them. They now own 7500+ souls.
Have a great Week.




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Quiet day on the data front


Good morning,

Yesterday GBP/EUR pair opened at 1.1340 with the UK releasing their Goods Trade Balance which showed a negative figure of -£12.230 Billion from expected -£10.70 Billion. This allowed the Euro to gain back some of it's losses from the start of the week moving the price down 0.7% by lunch to the daily low of 1.1270. GBP steadied and continued to trade around the 1.13 area for the rest of the day.

GBP/USD opened at 1.3535 and during the Asian session, US dollar gained some value against Sterling moving down to to the daily low of 1.3480 in early morning. The UK released strong Industrial & Manufacturing Production figures coming out at 2.5% instead of 1.8% and 3.5% expected 2.8% respectively. This pushed Sterling backup to the daily high of 1.3562. The pair ended up trading above the 1.35 mark.

EUR/USD opened at the low of the day 1.1935 trading around this level until 10:30 am where the Euro gained 0.60% pushing through the 1.20 mark again to a daily high of 1.2018. In the afternoon the US released good Exports results allowing the US Dollar to regain some value dropping back down below 1.20.

Fact of The Day


Penguins have glands under their eyes to extract and secrete excess salt. These are powerful enough that they allow them to drink seawater as their primary water source.
Have a great Day.




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Quite day on the data release

Good Morning

Apologies for the delay sending the report today.

Yesterday saw a very flat day with GBP/EUR as no data at all was released from the UK or Europe. Prices ranged between 1.1318-1.1351​ with no major movements to report.

GBP/USD basically mirrored GBP/EUR, due to the lack of data released there was no major movements with the pair. Prices were stuck in a tight range between 1.3504-1.3581. The only thing to report for the pair was the price did start the day at 1.3581 and slowly declined to the low end of 1.3500 by 5pm.

EUR/USD was also in the same boat with prices not moving out of the 1.1900 area all day, as seen below with the high's vs lows, the price was trading in a 60 pip range all day. Hopefully today brings a brighter day in regards to market movements.

Fact of The Day


In 1937, a man tried to find seats for himself and his wife on the Hindenburg, but there were none available next to each other. They took a plane home instead. Two years later, the man, Martin Goodman, went on to create Marvel Comics!
Have a great Day.




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Non-Monetary Policy ECB Meeting

Good Morning

GBP/EUR pushed through to a three-week high yesterday gaining its position above 1.13. With the press at the weekend, they used the term "hard brexit" but with a lack of negative sentiment around the topic it has allowed GBP to make some ground. GBP jumped 0.70% on the day moving from 1.1262 to the daily highs of 1.1343.

GBP/USD opened the day at 1.3575 and fell down to 1.3523 in early morning of trading with poor UK Halifax Housing prices came out worse than expected of 2.7% against expected 3.3%. GBP later in the day managed to gain back its losses in the afternoon backup to 1.3580 region before ending the day at 1.3570.

EUR/USD opened at 1.2040 yesterday morning falling throughout the morning despite good EU consumer and industrial confidence figures. The pair went below the 1.20 mark by mid-morning down to 1.1980. In the afternoon the US released good consumer credit change coming out far better than expected of 27.95B expected 19.75B pushing the price down to 1.1955 (-1% loss for the day).

Fact of The Day

The world record for the most passengers on an airplane was set in 1991 when 1,086 Ethiopian Jews were evacuated on a Boeing 747 to Israel. The plane landed with 1,088 passengers, as two babies were born during the flight.

Have a great Day.




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