Market Report for 16/10/2017


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.
GBP in focus this week with key UK inflation data scheduled for release…
The pound is very much in focus this week with a number of important economic data releases due. The main data point the Bank of England will be keeping a close eye on is Tuesday’s inflation reading (consumer price index). The Bank of England have their next meeting on the 2nd November, understandably, this release could influence voting and could therefore have a material impact on the pound’s value. Inflation lies just below the 3% level, any release above this psychological barrier and it’s highly likely GBP sees upside, as the Bank’s ability to tolerate above target inflation is tested. Additional data from the UK which will keep investors on their toes includes the monthly employment report as well as retail sales numbers. Finally, many will be keeping a close eye on developments regarding news that PM Theresa May will travel to Brussels for talks with EU chief Jean-Claude Juncker after deadlock in Brexit talks appeared to dash hopes that a summit later this week could launch negotiations on future trade ties.

Elsewhere and Chinese Q3 preliminary growth numbers will catch many participant’s attention. The Chinese growth story has remained relatively low-key this year; with various other stories keeping the market busy, the health of the 2nd largest global economy has not been in spot light. Housing data as well as a number of Federal Reserve speakers will be the main events out of the USA.

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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