Market Report for 12/11/2018


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.
A busy and likely volatile week ahead…
Once again, this week hosts a number of key economic indicators mixed with ongoing Brexit related headlines as well as the continuing Italian budget drama. PM May’s time to strike a deal is rapidly declining, each week that passes ensures more pressure is built on the weak PM’s shoulders. After another government resignation last week, speculation is on the rise that even if she can bring a deal home it will be convincingly voted down in Parliament. This week will no doubt offer some new developments for participants to contend with.

On the data front it’s a very busy week from the UK’s perspective. We are back to having 3 tier 1 economic reports all released across consecutive days. Tuesday sees employment numbers which have been impressive of late. Wednesday will host the latest set of inflation data while Thursday offers another retail sales report following some previously impressive readings. A very interesting week for the pound ahead. This all comes as the currency has seen a gap lower as markets reopened yesterday evening. At the time of writing sterling has just breached the $1.29 level and is now firmly trading in the $1.28s. This move has been exacerbated by EURUSD’s early morning break through big support at $1.13, the pair now trades at the lowest levels since June 2017.

Elsewhere it’s a big week for the US as the dust settles from last week’s mid-term elections. Will Trump’s weakened position significantly prevent him from perusing his economic policies? Data-wise, inflation and retail sales will be at the top of the agenda. There’ll also be a few Fed speakers on the wire this week – Jay Powell will be the headliner with 2 speeches across these next few days.

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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