Your browser is out of date

This website has been built for modern browsers, yours is many years out of date and as a result, your experience of this website will be poor.

Please upgrade your browser and pop back.

Thanks.

Market Reports

8:41am, March 20th 2019

All eyes on the Federal Reserve…

Today’s trading session is all about the Fed and the guidance they offer in relation to interest rates and quantitative tightening. The announcement will be at 18:00, followed by a press conference with Fed chairman, Powell, at 18:30.

This evening could provide a new catalyst for the direction of the US dollar depending on the message the Federal Reserve deliver. This month’s announcement will see a new set of growth and inflation forecasts and a statement where many investors will be looking for one key word – patience. If the Fed do choose to reinforce a message of patience we could well see a softening of the greenback. Such a move would be exacerbated if the central bank decided to reign in expectations for 2 rate increases this year and/or maintain their plans to end quantitative tightening (selling bonds accrued during the period following the financial crisis) by year end. On the other hand, if the chairman opts for a positive tone and maintains rate guidance, the buck may have some bite left.

From a UK perspective, yesterday saw another stellar jobs report, with employment at the best levels since 1970 as the unemployment rate nudged lower to 3.9%. In addition, wages saw a healthy boost, reconfirming the impressive and robust nature of the UK labour market. As mentioned in Monday’s report, this week’s a busy one for UK data, sterling faces another test this morning. The latest set of inflation numbers are due for release at 9:30. Should price pressures pick up once again we could have a Bank of England which may well opt for another rate rise at the end of the Summer.

Written by Viv Savani. 8:41am, March 20th 2019

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 International Payments 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.

Previous Reports

8:44am, August 23rd 2019

Sterling jumps on Brexit optimism, Jackson Hole Symposium in focus…

View Report
8:40am, August 20th 2019

Quiet day ahead for economic data…

View Report
8:39am, August 6th 2019

Stock markets plunge as US/China tensions overheat, FX remains relatively calm…

View Report

Testimonials

Our Clients Say

"I have had an association with Cornhill for over a decade and have had the pleasure of working with the same broker for the entire period of time, which is currently just over 15 years. This shows not only my dedication and customer loyalty to the company, but also their commitment and successful staff retention. The level of service I have received has never waned or altered and has been consistent over the term. Keep up the good work Cornhill. Dominic you are a legend."

Helen - FD, Essex Boatyard

"When deciding to buy a property in France, my husband and I failed to consider the implications of the currency exchange and to be honest, it was extremely daunting to know that the cost of the property could have increased significantly potentially wiping out any renovations we had planned had we sat on our hands and left it to chance. Thankfully, Dominic (our account manager) and the rest of the Cornhill team couldn’t have been more helpful, and as such helped us to understand our options and secure a price that puts our bank to shame. Always courteous and friendly, we don’t know what we would have done without them now!"

Samantha Johnson - Private Client

"I work to very tight margins in my business and as such currency volatility has a major impact on how well my business performs. After dealing with my bank for many years, I took the step of opening an account with Cornhill after meeting one of their team at an industry event. James took the time to explain the services and quickly highlighted what I was missing from my bank – proactivity and competitive pricing. It’s almost impossible to get through to someone at my bank without jumping through many hoops. Cornhill are always in touch at the right time, which helps me to time my currency purchases and make the most of moves in my favour. I now rest easy knowing I have a team of people working FOR my business and adding true value to it both in pricing terms and proactivity terms. My profits have increased and I know I am in good hands!"

Martin Fisher – FD of a Packaging Business

"My products are made abroad by trusted suppliers who I have worked with for many years. After a number of issues with my previous currency provider (payments being delayed), I decided to look at who else could help with my payments. Fortunately, I was introduced to Cornhill by a former colleague who uses their services. Since then, I haven’t looked back. Customer service is often overlooked in this ever-increasing digital age, but to know I have someone to call at the end of the phone who will listen to my query and take ownership of it for me is a breath of fresh air. Vivek and Greg have been reassuring and whenever I have a question for them, they are quick to respond and resolve."

Alexandra Houghton – Founder of a clothing business