Market Report for 17/02/2017


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.
A confusing week for FX markets…
This week's been a rather odd one when looking at the FX markets and their reaction to various data points. If I told you at the start of the week US data would reveal stronger than expected inflation, retail sales, regional manufacturing surveys from both New York & Philadelphia as well as an upbeat testimony from Janet Yellen – who left the door open for a March interest rate hike – while UK data saw softer inflation and employment data, where would you call the GBPUSD rate heading into the final day of the trading week? Surely not higher than where it started off the week. However, that's what we're faced with! This isn't just isolated to sterling either, it's across the board in the majority of the major US dollar cross pairs. Why is this? One reason springs to mind – Trump. With his policies based around protectionism and bringing jobs and manufacturing back to the US he'll need a weaker greenback. He's already called out various nations for weakening their currencies against the buck, it feels like this could be Trump's opportunity to give back some of the ground the dollar's gained over the past few years. It appears there's a new theme for FX markets to evolve around – the idea that Trump wants a weaker US dollar. We'd all better become accustom to the key drivers in FX markets nowadays – the traditional and the Trump. Have a good 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 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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