News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Canadian Dollar Price Forecast: USD/CAD Snaps Back to Key Support $USDCAD
  • RT @BrendanFaganFx: 77 counterparties take $1.352 trillion at Fed's fixed-rate reverse repo $USD $DXY
  • EUR/USD attempts to halt a five day decline as the Federal Reserve sticks to the sidelines. Get your market update from @DavidJSong here:
  • US Markit Composite PMI for September fell to 54.5 from 55.4, whereby the services and manufacturing figures fell to 54.4 and 60.5 respectively, both missing analyst estimates. Get your market update from @JMcQueenFX here:
  • S&P 500, Nasdaq Rally After the Fed; 10 Year Yield to Two-Month-Highs
  • #Bitcoin Outlook: $BTCUSD Bounce From 40K, Fake-out or Shake-out? -
  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF
  • The surprise 100 basis point cut from the Turkish central bank (to 18%) generated the expected pressure for $USDTRY. That said, I don't think it was the market that decided the momentum should die out at 8.8000 again...
  • surprised that $NQ is holding up so well with what rates are doing. 10 year yield at a 2 month high, $Nasdaq still holding resistance at prior support
  • The S&P 500 has recovered all the ground it lost at the start of the week and the Dollar has slumped post FOMC and PMIs. DailyFX's @JohnKicklighter gives a brief overview of the market for Thursday!
Brexit Briefing: UK Climbs Best for Business List Despite Brexit Warnings

Brexit Briefing: UK Climbs Best for Business List Despite Brexit Warnings

Martin Essex, MSTA, Analyst

Talking Points

- According to Forbes, the UK is now the fifth best country to do business in, up from tenth a year ago.

- However, a ruling by the EU’s top court could complicate the divorce proceedings between the EU and the UK.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for next week on the DailyFX Webinar Calendar.

The UK is now the fifth best country to do business in, up from tenth a year ago, according to an annual list published by Forbes. That flies in the face of warnings by remain campaigners ahead of June’s UK referendum on EU membership that a decision to leave would be devastating for the British economy.

Kurt Badenhausen, a senior editor at Forbes, said the UK had climbed the rankings “thanks to improved scores on corruption, tax burden and monetary freedom, as well as a stronger stock market”.There was no mention of the impact of the Brexit vote

Since the June 23 referendum, which resulted in a vote to leave, the FTSE 100 index of the largest London-listed companies’ share prices has climbed by 700 points, or 11.1%, to above 7,000 at the time of writing.

Chart: FTSE 100 Daily (June to December 2016)

Brexit Briefing: UK Climbs Best for Business List Despite Brexit Warnings

The British Pound, which tumbled immediately after the referendum, has since steadied but its drop will have helped UK companies that export, and by extension the UK economy.

Elsewhere, the US fell one spot to 23rd place, continuing a decade-long slide from its No.1 ranking in 2006, according to Forbes. Falling scores on trade and monetary freedom, along with rising levels of red tape and bureaucracy are behind the decline for the world’s largest economy,” commented Badenhausen. Sweden moved up four spots to top the charts for the first time, followed by New Zealand, Hong Kong and Ireland. Chad, in central Africa, was last.

In a separate development, the EU’s top court ruled on Wednesday that ratification by EU institutions isn’t enough to pass a trade deal with Singapore.As Daily FX noted, that could set a precedent for the Brexit negotiations.

The EU Court of Justice advocate-general’s view that member states must also approve the accord with the Asian city state means UK Prime Minister Theresa May might have to negotiate with 27 other national parliaments and in some cases their regional lawmakers if she wants a wide-ranging trade agreement with the bloc.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him

Don't trade FX but want to learn more? Read the DailyFX Trading Guides.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.