Plutus FX Latest News

ECB Interest rate decision


Good morning,

GBP/EUR opened yesterday's trading at 1.1030 pushing higher in the morning with the build up to PM May's Leadership challenge. The pair managed to push through 1.11 by lunch up 0.60% as GBP bulls reckoned May would be able to win the confidence vote seeing the pair reach the high of the day of 1.1148 by mid-afternoon. The pair lingered around the 1.11 area heading up to the 8 oclock vote results where GBP ended up finishing just above 1.11 after she kept in power.


GBP/USD opened yesterday 1.1030 pushing higher from yearly lows of 1.2477 with the reaction from PM May having her leadership contest last night. The Market was in favour or May staying and still running the Brexit campaign pushing Sterling up to the high of the day of 1.2672 by mid afternoon (+2.1%). The US buyers held off as the US release some lower inflation figures allowing GBP to jump on to gain more value. With May staying and winning her vote, GBP managed to stay above 1.26 to close.

EUR/USD opened at 1.1320 yesterday pushing higher in anticipation to US CPI results coming out after lunch. The pair moved to 1.1330 before surging to 1.1375 after the US released lower than expected inflation figures which held off the US buyers. The Euro moved to the high of the day of 1.1387 but shortly after moved back down finishing at 1.1370 for the day.

Fact of the day


The phrase “Mad as a hatter” was born because men who worked in the hattery industry was suffering from mercury poisoning due the substance being used in the process of hat making.

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U.S CPI m/m & Core CPI m/m


Good morning,

GBP/EUR opened yesterdays trading at 1.1039, the pair moved to 1.1090 in the morning session following positive data from the UK on Average Earnings Index 3m/y. The afternoon session saw the pair hit the high of the day which was 1.1110 before pulling back to the low of the day, Teresa May postponed the Brexit draft facing Parliament as speculation circled that it would be knocked back. We open this morning at 1.1071.

GBP/USD started the day at 1.2550 and the pair pushed to the high of the day following positive UK data, the price hit 1.2640 before falling through the levels to the lowest price we have seen since April 2017. The U.S released positive PPI m/m which pulled the rate down to 1.2480, we open this morning at 1.2538 with U.S figures due to be released this afternoon.

EUR/USD traded between 1.1315-1.1390 yesterday, the pair began the day at 1.1380 before hitting the high following positive German ZEW Economic Sentiment data, it was however short lived as U.S figures in the afternoon session pulled the pair to the low of day. EUR/USD opens this morning at 1.13266


Fact of the day


Upon being told he couldn’t go to Disneyland due to security concerns, Soviet leader Nikita Khrushchev went berserk. He said afterwards, “What do you have there – rocket launching pads? Is there a cholera epidemic down there? Have gangsters taken control of the place? Your police are strong enough to lift up a bull; surely they are strong enough to take care of gangsters?” Khrushchev left LA the next morning.

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Prime Minister Theresa May postponed a key Commons vote on her EU withdrawal deal


Good morning,

GBP/EUR opened the week at 1.1155 with an eventful start with the EU ruling from the European Court of Justice confirming the UK can unilaterally revoke article 50. In the afternoon, PM Theresa May announced the brexit vote, which was scheduled to take place tonight would be held off. The pair tumbled down to 9-week lows of 1.1003 by 4pm managing to steady itself back above 1.1050 before close.

With the decision made from PM May yesterday the press are saying that the overall probability of a deal remain low which could cause more GBP weakness.

GBP/USD opened the week at 1.2720 yesterday pushing slightly higher towards 1.2750 by early morning. Sterling then dropped after PM May admitted that there was no majority in the vote concluding her to go back into emergency talks in Brussels to secure assurances. The Pound dropped 2% over the course of the day from 1.2750 down to 1.2507 (20 month lows). The pound managed to recover itself finishing the day at 1.2560.

With the decision made from PM May yesterday the press are saying that the overall probability of a deal remain low which could cause more GBP weakness.

EUR/USD opened the week at 1.1400 heading higher to 1.1440 by early morning. The pair managed to stay high falling gradually throughout the morning session to 1.1400 by lunch. The Euro fell further down to 1.1350 by late afternoon- early evening after President Macron declares economic emergency after trying to promote special year-end bonus of €100. The pair was down -0.50% for the day.



Fact of the day


After Michael Jackson’s hair caught fire in 1984 he founded a burn center. “I wanted to do something because I was so moved by the other burn patients I met…” He suffered painful burns, but hospital staff remember him spending much of his time visiting and comforting other patients.

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Brexit: Theresa May understood to be delaying key vote!!



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UK GDP m/m & Manufacturing Production m/m


Good morning,

GBP/EUR ended last weeks trading on a downtrend, the pair moved from 1.1250 which was the high of the day to 1.1120 which was the lowest price we have seen since September. There was little to report in regards to economic data and the reason for move was due the uncertainty surrounding the UK-EU Brexit draft not passing parliament tomorrow. We open this morning session at 1.1139 and all eyes will be on GDP and Manufacturing figures from the UK today.

GBP/USD was stuck in the 1.2700 area on Fridays trading session, the pair ranged between 1.2700-1.2790. The afternoon session saw the U.S release negative data on Average Hourly Earnings m/m and Non-Farm Employment Change. We open this morning session at 1.2714 and there is no economic data releases for the U.S therefore all eyes will be firmly on the UK at 09.30am.

EUR/USD finished the week fairly flat due to lack of data, the pair ranged between 1.1370-1.1420 in a dull day of trading, we begin the week at 1.1417 and today's economic calendar is quiet.

Fact of the day


Electricity was first installed in the White House in 1891. It was such a new concept that President Benjamin Harrison and his wife both refused to touch light switches due to their fear of electrocution so the White House staff had to follow them around and turn the lights off and on for them.

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