Market Report for 08/12/2017


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 through to next phase of EU negotiations…
This morning, David Davis and PM May have travelled to Brussels for breakfast with Michel Barnier and Jean-Claude Junker. It’s recently been confirmed that enough progress has been made in principal for the UK and EU to move onto the next phase of negotiations – trade. It’s likely we’ll see a string of interviews and comments from various governments across the day, importantly Irish and Northern Irish officials. The pound has reacted positively across the last 24 hours after a brief wobble yesterday morning. The pound surpassed $1.35 in overnight trade while it ran out of steam just shy of the €1.15 mark. The development is still fresh so there’s a good chance we see more sterling volatility across the trading day. Understandably, many participants will be trying to gauge just how robust and secure the respective agreements are – the main one being the Irish/Northern Irish border.

Another risk event is today’s US jobs report where expectation is for employment to rise by 200K. The expected slight decrease in employment growth this month is an indicator of a labour market returning to a more normal state. Additionally, UK economic numbers are seen out at 0930 in the form of industrial and manufacturing production as well as construction output. Have a nice weekend.

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 a limited company registered in England and Wales. Registered number:6260585. Registered office: 4th Floor, 18 St Swithins Lane, London, EC4N 8AD. Cornhill FX is authorised by the Financial Conduct Authority for the provision of payment services under the Payment Services Regulations 2009 (Reference number: 504494) and supervised by the Financial Conduct Authority under the Money Laundering Regulations 2017.

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