By Lukman Otunuga, Research Analyst at FXTM Sterling/Dollar exploded into extreme gains on Tuesday with prices clipping above 1.2400 after Prime Minister Theresa May’s optimistic Brexit speech signalled that the United Kingdom was seeking a deal which would satisfy both parties. A critical comment that played a role in the Pound’s sharp rally was how
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The political earthquakes of 2016 have upended conventional thinking about the global economy and have ironically brightened the outlook, according to new analysis released at the World Economic Forum in Davos by IHS Markit. Global growth is expected to increase from 2.5% in 2016 to 2.8% in 2017 and 3.1% in 2018. “In
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Italy’s Antonio Tajani of the centre-right European Popular Party (EPP) won the European Parliament’s presidential election for the 2017-2019 period with 351 votes in a final face-off with socialist S&D candidate Gianni Pittella, who secured 282 votes. The outcome of the fourth ballot, with 633 valid votes and abstentions, followed the last-minute withdrawal by
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By Lukman Otunuga, Research Analyst at FXTM Sterling staged a sharp rebound during trading on Tuesday following Prime Minister Theresa May’s keynote Brexit speech which provided investors the clarity long sought on the Brexit developments. The speech meticulously outlined the 12 objectives to a Brexit with the PM acknowledging that a transitional deal would be
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The negative outlook for sovereign creditworthiness in 2017 in the Gulf Cooperation Council (GCC) reflects continued headwinds from subdued growth and challenges to further fiscal and structural reforms, Moody’s Investors Service said in its annual GCC Sovereign Outlook issued on Monday. “We expect real GDP growth in the GCC in 2017-18 to remain weak
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By Lukman Otunuga, Research Analyst at FXTM The heightened hard Brexit fears have triggered a steep Sterling selloff during the early trading hours of Monday with the GBPUSD tumbling to a fresh three-month low at $1.1983. Although the cause behind the renewed selling pressures on the Pound was attributed to reports of PM Theresa May
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The Bank of Cyprus has launched an issue of €250 mln unsecured and subordinated Tier 2 capital notes under the bank’s EMTN programme pricing the 10-year bond at 9.25% and marking the lender’s return to the markets, its chief executive said. Settlement for the bond, that is expected to be rated at Caa3 by
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By Lukman Otunuga, Research Analyst at FXTM Global stocks could edge lower on Friday if the renewed Trump uncertainties encourage investors to maintain a cautious trading stance. Asian shares have already turned mixed following the soft China trade data which soured investor risk sentiment, while the rising Trump-fuelled anxiety could obstruct gains in Europe.
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A solution to the Cyprus problem, by way of the talks being held under UN auspices in Geneva this week, could pave the way for “even greater” investment opportunities, Finance Minister Harris Georghiades said after a meeting with the new shareholders of Piraeus Bank Cyprus. The Minister said in comments after a meeting with
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By Hussein Sayed, Chief Market Strategist at FXTM President-elect Donald Trump’s long-awaited first post-election press conference left many investors with more questions than answers as he failed to justify the current premium priced in the dollar and equity markets. We already knew that Trump wants to build a border wall with Mexico, bring back
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