Not so good economic figures and the no change in interest rate kept the pound pretty subdued last week. Although there was no real underlying weakness against the EURO, against a strong USD we did see a drop. EUR/USD was the main focus of the trading week; this pair dropping to mid 1.18s before a slight recovery. The USD really does not seem to know what it is doing, and the weak euro is helping show some short term USD strength.

This overview is extracted from the 2017 Economic Survey of Portugal. The Survey is published by the Economic and Development Review Committee (EDRC) of the OECD, which is charged with the examination of the economic situation of member countries.

Portugal’s economy has gone through a gradual recovery from a deep recession. A wide-ranging structural reform agenda has supported thisrecovery and the ongoing reduction of imbalances built up in the past. Stronger investment, skills, and productivity will increasingly be the basis for sustainable income gains.

Due to recent stock market volatility we have been working with our product partners in Europe to identify a safe income generating investment for all types of investors. The UK bond market has seen significant growth over the past 3-5 years and we are proud to announce the launch of a new UK backed investment bond available through all forms of investment (Pension, Lump Sum etc).

What does the Portuguese tax landscape look like in 2018?

Extreme investor optimism has been dealt a blow. But growth is still strong, inflation is still low, and our investment partners believe the equity-market correction is likely to be short-lived.

Investor sentiment had been extremely optimistic in recent months and markets overbought, but that is no longer the case. After last Thursday’s near-4% decline, the S&P 500 is now officially in correction territory, being down by more than 10% from its record high reached on 26 January. However, in the midst of this kind of market turbulence, it is particularly important to take a step back and consider the broader economic backdrop – growth is still strong and inflation is still low.

January is a good time to reflect on the previous 12 months and look ahead to what the coming year may bring. This should always include a review of your financial planning to ensure it is up-to-date and on track to protect your family’s long-term wealth.

Fund manager Neil Woodford has warned stock markets around the world are in a "bubble," citing bitcoin, ETFs, and yields on European junk bonds as "red lights."

Woodford made his name as a money manager by avoiding bank shares before the 2007 financial crash and by avoiding the tech sector before the tech sector's dotcom crash in 2001.

The first EU Blacklist finally revealed

The EU has put 17 jurisdictions on a blacklist: American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, St Lucia, Samoa, Trinidad and Tobago, Tunisia and the United Arab Emirates. However, when contrasting the revelations in the Paradise and Panama Papers about international tax schemes, exposing some of the intricate ways that the world's wealthy use to evade tax through offshore havens, it quickly becomes apparent that the EU has chosen to target countries with little economic or political weight.