It’s all about the upcoming G20 in June with big questions being raised and cautious optimism on US-China trade talks.
Bank of England Reports Published in June 2019
Quarterly Bulletin – 2019 Q2 – Read the report
The Quarterly Bulletin explores topics on monetary and financial stability and includes regular commentary on market developments and UK monetary policy operations.
The Future of Finance: Executive Summary – Read the report
This report looks at how the economy is changing; how finance can serve and support these changes; and what it could mean for the Bank of England.
Agents’ Survey on Preparations for EU Withdrawal – Read the report
A survey on the changes that the extension of the EU withdrawal period to the end of October has had on respondents’ views about the economic outlook.
Is Trump Undermining a Key Worldwide Dispute Court?
From: The BBC
As leaders of the G20 group of nations meet in Japan, questions are being raised over actions by the Trump administration to impede the settling of trade disputes. The US government has been blocking the appointment of judges to the World Trade Organisation court which rules on these disagreements.
Brexit Uncertainty IS Starving Businesses of Investment
From: Daily Forex
Against the backdrop of the Tory leadership race, UK businesses have been stockpiling goods and materials. It’s bad for their balance sheets and profitability but means that they’ll be able to continue to trade – until the stocks are depleted – in the event of a chaotic exit.
EU-Swiss Exchange Battle Continues as London Prepares to Delist Swiss Shares
From: Daily FX
Swiss stock exchanges are prepared to retaliate against the EU’s decision to end its stock market equivalence with Switzerland after frustrated talks to achieve a long-term agreement to replace its many accords currently in place.
According to a report from Bloomberg News, Switzerland will ban trading in Swiss shares in the EU starting on July 1st.
Pound Gains Before the G20 Meeting
From: Reuters
The pound edged higher on Thursday as traders unwound some of their short bets against the British currency before a Group of 20 meeting this weekend.
Risky assets including the pound were generally in demand with European equities higher and perceived safe-haven currencies such as the Japanese yen and the Swiss franc lower.
European Shares Set to Snap 4 Day Losing Streak on US-China Trade Optimism
From: Reuters
The anticipation of a trade truce between the United States and China put European stock markets on pace to break a four-day losing streak on Thursday, with Frankfurt’s DAX outperforming as shares of Germany’s chemicals giant Bayer rallied.
FX Rates in June
GBP/EUR
Jun Low: 1.1139
Jun End: 1.1192
GBP/USD
Jun Low: 1.2532
Jun End: 1.2679
EUR/USD
Jun Low: 1.1172
Jun End: 1.1329