Market Report for 27/06/2017


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.
Tory/DUP deal fails to spur sterling gains, heavy day for central bank speakers…
Yesterday's Conservative Party/Democratic Unionist Party deal failed to materially boost the value of sterling. The pound mustered a 0.15% move higher on the news but these gains were wiped out later in the day. It's clear any positivity was already factored into the price as it appeared likely a deal would be struck at some point this week. Focus now shifts back firmly on the Brexit negotiation process and first of all – striking an agreement on EU citizens in the UK and vice versa.

Today is an exceptionally busy day for central banker speeches. Central bankers are the individuals who monitor their respective economies and ultimately decide on various issues relating to monetary policy – the most important being the appropriate level for interest rates. Each of the members have different opinions based on their own perspective, this is where the terms 'dove' (less willing to tighten policy and increase rates) and 'hawk' (more willing to tighten policy and increase rates) come into play. As a result, their communications via speeches and discussions are important as they give market participants an insight into how they may vote at their next meeting. Today's calendar is as follows:

0900: ECB's Draghi
0905: FOMC's Williams
0930: RBA's Debelle
1100: BoE's Carney
1615: FOMC's Harker
1800: FOMC's Yellen
2230: FOMC's Kashkari

Expect a volatile day and one which should reveal a considerable amount of information on what central banks are thinking for the future of their respective economies.

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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