News

Graham Brady shows May the door

Theresa May is set to announce her formal resignation today according to nearly all political commentators. The PM will retain her position until June 10th in order to host the visit from US President Donald Trump on June 3rd.

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May and sterling reluctant to move as the 1922 circles

In the afternoon of yesterday’s session, sterling stood still as political headlines came thick and fast with speculation rife that May would announce her retirement that evening amid significant pressure from senior party officials.

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To Brexit or not to Brexit, that is the question

Yesterday, Theresa May pinned her hopes on increasing votes in favour of the Withdrawal Bill from Labour, as opposed to votes from within her own Tory party, ahead of the vote in 2-weeks’ time.

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China accuses US of making wrong call on Huawei

This morning it became clear President Trump has signed a waiver to postpone the sanctions against Chinese technology company Huawei for three months. The market reaction of this potential first step towards atonement is muted, however, as the measures are still to be implemented later.

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May likely to be gone in June

Unless May manages to achieve some type of breakthrough in the near future, a likely Conservative Party revolt would see her ousted and replaced, possibly by a Eurosceptic such as Boris Johnson – a prospect that would likely see further sterling weakness due to the increased chances of a no-deal Brexit in October.

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Euro and sterling face political headwinds

There seems to be no winner in current British politics, but there definitely is one loser – the pound. GBPUSD falls for the sixth consecutive trading day and now sits at levels not seen since mid-February.

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Chinese dragon breathes out sparks, but doesn’t spit fire yet

This can be the synopsis of China’s largest sell-off of US treasury paper in two years in March, as it remains tiny compared to China’s total UST holdings, while even Canada sold more USTs that month.

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May goes back for a fourth serving

Sterling continues to sit on the back foot as a G10 currency against the dollar in a mild risk-off environment. Now, Theresa May will hold out for cross-party talks to bear fruit in order to secure much needed Labour votes ahead of the WA’s fourth running.

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FX drift on the tides of trade sentiment

Sterling was stuck in the middle of the G10 currency board yesterday as a lack of data released along with a stagnant Brexit process meant the pound followed suit against the US dollar move.

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Car tariffs may nip Eurozone green shoots in the bud

This week brings new updates on the green shoots in the Eurozone, with the German ZEW Economic Sentiment on Tuesday and the vital First Gross Domestic Product reading for Germany on Wednesday.

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Ranko Berich

Ranko Berich

Ranko Berich is Head of Market Analysis at Monex Europe & Monex Canada. He is a respected macroeconomic commentator, combining incisive market insight with a deep understanding of global economic and political events.

Ranko leads our team of analysts, providing commentary and insight on the markets as news breaks.

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