Market Report for 23/03/2017


EURUSD
$
3 MONTH TREND –
Resistance $
Support $
GBPUSD
$
3 MONTH TREND –
Resistance $
Support $
GBPEUR
3 MONTH TREND –
Resistance €
Support €
GBPUSD GBPCHF
GBPEUR GBPAED
GBPJPY GBPSEK
GBPAUD GBPDKK
GBPNZD GBPCZK
GBPSGD GBPHKD
GBPCAD GBPTHB
EURUSD GBPZAR
GBPSAR GBPNOK
The prices shown are “mid-market” exchange rates and are not the rates that you will be offered by Cornhill. Your rate will be determined by the amount of currency that you are buying. Please speak with your dealer for a live quotation.
UK retail sales in focus as sterling advances against the US dollar and euro…
This morning's focus for sterling traders and dealers will be on UK retail sales data released at 0930. The UK has performed surprisingly well since the 23rd June 2016 vote to leave the European Union. Retail sales numbers have held up well, displaying an impressive level of resilience from the British consumer. Today's data comes on the back of decent advances for the pound against most of its major peers. After a temporary sell-off yesterday following the horrific terrorist attack in London, the pound managed to regain its cool pushing higher against the US dollar and euro. This morning's data, should it be positive, could be the next catalyst for another leg higher in the currency.

Overnight, the Reserve Bank of New Zealand held rates steady at 1.75% but chose to talk its currency down. Additional data points of note from today's session include a speech from the head of the Federal Reserve – Janet Yellen, US jobless claims, US new home sales as well as a number of Yellen's colleagues due to give speeches too. Additionally, many will be keeping an eye on US politics with the first real test for Trump – his Obamacare repeal bill will be voted on later today. Should he fail to pass the bill, both himself and his administration could appear weak, jeopardising the expectations markets have built for all his various campaign promises such as deregulation of banks.

EURUSD EURUSD
GBPUSD GBPUSD
GBPEUR GBPEUR

written by Vivek Savani
0207 710 9638

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill FX limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information. Cornhill FX Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, registration 504494, for the provision of payment services. Cornhill FX Limited is a registered MSB with HM Revenue & Customs – Reg No: 12267307. Cornhill FX is a limited company registered in England and Wales. Registered number:6260585. Registered office: 4th Floor, 18 St Swithins Lane, London, EC4N 8AD.

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