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MAY DOES "DEAL" WITH DUP

In what has been a rather uninteresting week for major currency swings, the headlines have been mostly referencing the start of Brexit negotiations and UK PM Theresa May trying to finalise a "deal" with the DUP (which now looks likely). Meanwhile Scotland's finest, Nicola Sturgeon continues to try and aggravate Theresa by demanding a seat at the Brexit negotiation table (however, one wonders if they provide high-chairs at these types of meetings!) This, despite Sturgeon's pathetic showing north of the border during election time which made Theresa May's performance look positive!

SHOCKER FOR THERESA

So, after a rather embarrassing performance in the UK general election by PM Theresa May, the pound flipped broadly to the downside on fears of the uncertainty a hung parliament causes. The cheers from Europe were deafening on the news as the gloating started and drinks flowed amongst the European elites. In the following days after the election, GBP made a slight recovery as it became evident that Theresa was capable of heading up a coalition. Cable sits just under 1.28.

"UK AND U.S ARE NO LONGER RELIABLE PARTNERS"

This week has seen currencies trade in relatively narrow ranges compared to recent weeks. EUR/USD is holding firm around the 1.12 mark whilst cable trades between 1.28 and 1.29 despite a busy week geopolitically wise.

'Disgraceful'

Yet again we have to start our blog by sending our most heartfelt wishes out, this time to the people of Manchester. For someone to deliberately target a venue where many of the attendees were children and murder at least twenty-two innocent people seriously injuring dozens more simply defies belief. The UK is now at it's highest terror level (critical) with Theresa May warning that another attack is "imminent" from a bunch of "losers" (as Donald Trump calls them) hellbent on succeeding in their warped ideals.

TRUMP: A STEP TOO FAR?

So, Donald Trump decided to fire his head of FBI Comey. The official White House statement cited the reason for Comey's dismissal was his inability to deal with the Clinton email scandal. However, the cynics are circling, suggesting that Comey was getting rather close to uncovering 'The Donald's ' links with Russia pre-election. Apparently, Comey found out that he had been fired on Facebook......now who said that social media was a bad thing?Trump has got rid of one of the elites most prized assets within authority....could this be one decision too many for Trump?

STATUS QUO IS RESUMED.....FOR NOW!

The European elites jumped with joy at the news that Emmanuel Macron triumphed over his opposite number Marine Le Pen in the race for the French Presidency. The back-slaps and celebratory cigars started almost immediately upon the breaking news with congratulations piling in from all corners of the world. German Chancellor Angela Merkel even almost managed a smile as she stated that this was "a vote for Europe". However, what will be concerning the elites is the rapid rise in popularity of the right. Marine Le Pen has now established herself as the leader of the opposition.

MARKETS CRAVE EUPHORIA

The week started with the news that Marine Le Pen did NOT win the first round of French elections after losing first place to the more conservative Emanuel Macron. You could hear the deafening signs of relief from Europe's elite who will now close ranks on Le Pen to ensure she doesn't win her place at the Elysée Palace after the final round of elections. The usual suspects came out to congratulate Macron (basically for temporarily saving their skins) and slapped each other on the back in typical Masters of the Universe fashion.

UK PM MAY - MY WAY OR THE HIGHWAY

The UK PM Theresa May stunned the world by calling a snap general election. This had a massive bearing on sterling, and following an immediate drop on the news due to the uncertainty that elections generally cause, GBP suddenly started to resemble a freight train as it powered up an incredible 330 points off it's lows. This was in response to May's powerful 'leadership' speech in the Commons. Theresa stood there and stared around the hall stating that the British population can either move forward with her or trust a coalition government with Labour leader Jeremy Corbyn at it's helm.

IT'S ALL ABOUT TRUMP

So, let's begin with Donald Trump sending missiles into Syria to destroy a military camp that seemingly was responsible for the gas attack on Syrian civilians. Trump's opinion of Assad seems to have changed rather quickly following TV pictures shown to the world in the aftermath. Assad actually appears to have been let off lightly as it's rumoured Trump was thinking of summoning the help of a United Airlines crew for a bit of extra muscle but decided against it at the last minute. Apparently Donald informed China President Xi of the airstrikes over a delightful evening meal.

Calm before the storm?

We start with yet again a mindless idiot mercilessly taking lives in St. Petersburg as he chased his place in the idyllic afterlife. The shocking scenes are becoming all too common and our thoughts are with those affected by this latest abhorrent act of terror.
Following a brief flurry of activity late Friday, the markets appear to be taking a breather ahead of the inevitable spike in volatility on the horizon.

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