Dear
Members and Friends,
I
write this message to you the day after the UK has served it “divorce notice”
on the European Union and the process of Brexit negotiations formally starts. Putting
aside the emotions many of us will feel at this moment, personally and
professionally, those affected by this decision must now focus on the outcome
for trade between the UK and the world’s richest political bloc, hoping that
the “deep and special relationship” trumpeted in Theresa May’s letter will
indeed come to pass. At the very least,
we can rest assured that our markets are global and not regional, so we will
have a job even if we end it doing it out of Dublin, Frankfurt, Paris…(I am, of
course, being mischievous).
And
in those emerging markets that we rely on, the positive momentum witnessed in
the first months of the year rippled into the month of March as the pick-up in
global economic activity in the developed and emerging economies spurred demand
for EM assets. Trade activity picked up as did inflationary data points across
selective emerging market economies whilst investor appetite improved on the
back of a marked weaker US dollar. Emerging Markets were unshaken by the rate
hike by the US Federal Reserve earlier on in the month, as this move was pretty
much priced in, whilst the weakness in the US dollar towards the end of the
month over failed healthcare negotiations pushed EM higher.
In
the April edition of the ITFA Newsletter you will find a stimulating article written
by James Knightley, ING ‘’Brexit Begins: What to expect from the economy &
politics over the next 2 years’’. You will also find our regular feature - Chart
of the Month - April 2017, contributed by Dr. Rebecca Harding of Equant Analytics. ITFA is delighted to announce its new
members for the month. A big welcome to them as they join our expanding
organisation.
As
we have previously announced, ITFA is proud to bring you the 44th Annual
International Trade and Forfaiting Conference which will be held in Edinburgh between
the 6th and 8th of September 2017. This year we will be greeting you at
the Caledonian Hotel, which is situated in the heart of Edinburgh. A networking
afternoon with dedicated rooms and a reservation portal to book meetings
with all conference delegates will take place on the second day of the conference.
At this point we urge you to Save the Date and to keep following our regular
updates. Further details will be available shortly.
We
look forward to hearing from you with any feedback you may want to share with
us by sending an email to myself, any of the Board Members or to our general
email, info@itfa.org.
Best
wishes,
Sean
Edwards
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