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Juncker: Tragic Brexit and Trump Being “Annoying”

Juncker: Tragic Brexit and Trump Being “Annoying”

March 24th, 2017

The president of the European Commission, Jean-Claude Juncker, said in an interview to BBC aired on Friday, that he was sad about the UK referendum vote and Brexit, which he believes is a “failure and a tragedy.”

  • Retail Therapy for the Pound
    March 23rd, 2017

    Retail Therapy for the Pound

    The pound briefly slipped from a 3-week high yesterday on the shocking news of a terrorist attack outside parliament. Today, although the mood is sombre, there’s good news in just released data showing UK Retail Sales unexpectedly rose by 1.4% in February. US President Donald Trump’s first bill before Congress, the Republican healthcare plan, appears unlikely to win today’s very close vote. This doesn’t bode well for Trump’s ability to deliver on his ambitious $1 trillion spending spree or his tax reform plans. The US dollar is down to a 4-month low and global markets are trading lower due to the uncertainty regarding the world’s largest economy.

  • Breaking News: Parliament Terror Attack
    March 22nd, 2017

    Breaking News: Parliament Terror Attack

    Several people were injured after hit by a car, while two others were shot outside Houses of Parliament.

  • Brexit Leak: UK To Pay £50bn or Will Go to International Court
    March 22nd, 2017

    Brexit Leak: UK To Pay £50bn or Will Go to International Court

    The Independent has reported that a Dutch newspaper has got access to a leaked document that says the EU will take the UK to the International Court of Justice if it refuses to pay the £50bn divorce bill.

  • Sterling Strong as ‘Trumpflation Trade’ is Tested
    March 22nd, 2017

    Sterling Strong as ‘Trumpflation Trade’ is Tested

    Yesterday, Sterling enjoyed a boost of strength on the news that inflation surged by more than expected. The pound is at a 4-week high against the US dollar, while the euro has hit a 6-week high against the greenback. US President Trump’s honeymoon seems to be over as the US dollar is in its longest drop since November. Global stocks have fallen as investors lose faith that his pro-growth policies can gain Congressional approval. Trump’s refusal to ‘show more respect for the truth’ has been criticised by The Wall Street Journal which warned he may soon be seen as ‘a fake president’.

  • Putin Played the Trumpet, But the Donald Will Be Out Soon
    March 21st, 2017

    Putin Played the Trumpet, But the Donald Will Be Out Soon

    Kellyanne Conway, the president’s counsellor, said to Fox news that the ongoing investigation of the F.B.I. into the possible ties between the Russian government and Trump’s campaign associates has “nothing to show for it.”

  • Inflation Surge Strengthens Sterling
    March 21st, 2017

    Inflation Surge Strengthens Sterling

    The pound fell from a 3-week high against the dollar on yesterday’s news that the UK will trigger Article 50 on 29 March. Economists predict that Brexit related volatility will shape the road ahead of us for the next 2 years. Today Sterling rallied in response to this morning’s consumer price index reports showed inflation surged by more than expected. US President Donald Trump’s speech yesterday at his rally in Kentucky promoted the much-doctored Republican healthcare plan ahead of the bill’s vote this week. In a Congressional hearing, the FBI said the US President’s accusations of being wiretapped were unfounded, but they’re investigating him for his campaign’s Russian ties.

  • Breaking News: Article 50 to be Triggered 29 March
    March 20th, 2017

    Breaking News: Article 50 to be Triggered 29 March

    The date is set: On Wednesday 29 March Theresa May is triggering Article 50.

  • Dollar Down After US Dominates G20
    March 20th, 2017

    Dollar Down After US Dominates G20

    Sterling is staging a comeback, as Prime Minister Theresa May begins her Brexit tour to persuade the devolved nations of the UK to stay together. The pound rose on the Bank of England’s 8-1 vote last week to keep the UK interest rate unchanged. It’s also being helped by economists recently stating that the reality of a hard Brexit has already been priced into the pound’s value. The US dollar remains weak after the US Federal Reserve showed restraint regarding US president Donald Trump’s nebulous economic stimulus plan. At the first G20 of Trump’s administration, his Treasury Secretary Steven Mnuchin also seemed to have vague plans as he persuaded fellow finance ministers to remove a pledge to free trade.

  • United We Stand: Theresa May Tours Devolved Nations
    March 20th, 2017

    United We Stand: Theresa May Tours Devolved Nations

    On Monday (20 March), Theresa May starts her tour of devolved nations in an attempt to keep the UK together before Brexit negotiations begin.

  • G20 Meeting: US Protectionism and Carney’s Priorities
    March 17th, 2017

    G20 Meeting: US Protectionism and Carney’s Priorities

    International Finance Ministers and central bankers are meeting today in a two-day conference held at the spa town of Baden-Baden in Germany. The main theme of the talks would be American protectionism, particularly, the new administration’s policies such as the border tax on imports.

  • Merkel and Trump Talk Trade
    March 17th, 2017

    Merkel and Trump Talk Trade

    Sterling jumped to a 2-year high on news that the Bank of England’s monetary policymakers are open to an interest rate increase to counter rising inflation. Although the bank left interest rates at a record low, the decision was split with one member voting for a rate hike. The bank expects inflation to exceed the 2% target soon but they’re not raising interest rates this year because it would further reduce spending, compounding Brexit challenges. The US dollar is at a 3-week low after the US Federal Reserve’s announcement that future interest rate hikes will come at a gradual pace. Also, Trump’s budget proposal is raising concerns about his promised economic stimulus plans because it calls for $54 billion in cuts in domestic spending on urban infrastructure projects.

  • MayTrix: Not the time for a Scottish Referendum
    March 17th, 2017

    MayTrix: Not the time for a Scottish Referendum

    No one can escape the MayTrix. The Prime Minister is not only taking an unbending position on the Scottish referendum, but she is also playing tricks. The government has now officially rejected to give people or parliament the power to vote on the final Brexit bill. But they also rejected calls for a Scottish independence referendum, at least before Brexit.

  • Fox and Fake News: GCHQ Denies Wiretap Allegation
    March 17th, 2017

    Fox and Fake News: GCHQ Denies Wiretap Allegation

    UK intelligence agency Government Communications Headquarters (GCHQ) has profusely denied claims that they assisted former president Barack Obama to wiretap Donald Trump during the 2016 election, calling the allegations complete nonsense and utterly ridiculous.

  • May to Sturgeon: Not on My Watch
    March 16th, 2017

    May to Sturgeon: Not on My Watch

    As the Queen gives her royal assent to the Brexit bill, Theresa May is replying to Sturgeon’s demand for a Scottish referendum with a simple, but ambiguous, “Now is not the time.”

  • Euro and Rutte Win Dutch Elections
    March 16th, 2017

    Euro and Rutte Win Dutch Elections

    Euro hit a 5-week high on the welcome news that Prime Minister Mark Rutte was victorious over far-right challenger Geert Wilders. Sterling had tentatively gained back some of its losses to the euro yesterday until data showed that UK wage growth in January shrunk to 2.2%. With rising inflation, this knocks down wage growth to a negligible 0.7%, and the report shows workers are now averaging longer hours for less pay, too. US Federal Reserve (Fed) Chair Janet Yellen’s interest rate hike from the current 0.75% to 1% was hardly a surprise, but the US dollar slid in response to her lack of urgency about adding a rate hike in June. Yellen’s muted, let’s wait-and-see response to Trump’s fiscal policies disappointed investors who expected far less caution from the Fed.

  • Dutch Elections: Is Populism Dead?
    March 16th, 2017

    Dutch Elections: Is Populism Dead?

    The Dutch Prime Minister Mark Rutte has defeated the anti-EU, anti-Islam populist Geert Wilders.

  • Brexit: 200,000 Jobs Lost as EU Gets Tough
    March 15th, 2017

    Brexit: 200,000 Jobs Lost as EU Gets Tough

    Article 50 will trigger a series of events, including the possibility of thousands of jobs being lost and a harder “uncompromising” position by the European parliament.

  • US Fed Finally Raises Rate
    March 15th, 2017

    US Fed Finally Raises Rate

    The pound has been pummelled by a one-two punch beginning with the news that the UK will trigger Article 50 at the end of the month. Secondly, Prime Minister (PM) Theresa May appeared poised to set the process in motion this week, but when she was caught out by Nicola Sturgeon’s bid for a second independence vote, the PM seemed unnerved. The spectre of Scotland leaving the UK, if the negotiations don’t secure access to the single market, will hang over Brexit negotiations for the next 2 years. Janet Yellen is set to raise interest rates today and her statement will give the US dollar strength if she hints that the Federal Reserve is open to another 3 rate hikes this year. The other key event today is the Dutch election which is seen as a bell weather for the strength of populism across Europe.

  • Who’s Afraid of Nicola Sturgeon?
    March 14th, 2017

    Who’s Afraid of Nicola Sturgeon?

    Theresa May’s worst nightmare has come true. On Monday, a day before her possible triggering of article 50, the first minister of Scotland, Nicola Sturgeon, announced that she will have a second referendum on Scottish independence.

  • Scotland Puts the Brakes on Brexit
    March 14th, 2017

    Scotland Puts the Brakes on Brexit

    Although parliament has cleared Prime Minister (PM) Theresa May’s path for triggering Article 50, the PM’s previous intention to do so today has been postponed until later this month. Before beginning the Brexit process, the government will likely try to prevent First Minister Nicola Sturgeon’s push for a second Scottish referendum. Sterling has plummeted to an 8-week low against the US dollar in reaction to the unpredicted political turmoil ahead of Brexit. Also, the anticipated future Bank of England (BoE) Governor Charlotte Hogg resigned after the Treasury Committee ruled she lacks the competence to be deputy governor. The US Federal Reserve’s 2-day policy meeting begins today as the Fed is expected to raise interest rates tomorrow signalling a return to normalised monetary policy almost a decade after the financial crisis.

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