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.


Market Reports

8:33am, June 10th 2019

A key week for the US dollar…

The greenback has been in a multi-month uptrend, supported by what was deemed a hawkish central bank combined with strong data. Both these factors have come into question recently. The week ahead could help define the path forward for the US currency.

Last Friday’s non-farm payrolls report was woeful. The data disappointed on all fronts. Headline employment missed by 100K and there were revisions to previous months, indicating that there may have even been a loss of jobs rather than any additions. Wage growth was lower while one bright spot was that the unemployment level remaining at 3.6%.

The US dollar weakened as a result, taking GBP back to the well-touted resistance level at 1.2750. The GBPUSD pair failed at this level and has since reversed moderately lower. The week ahead should be an important one for the buck. Two crucial reports will be released on Wednesday and Friday, respectively. First up, inflation numbers followed by retail sales. Both are important metrics from the Fed’s perspective and, if weak, could fuel further chatter of Fed rate cuts for later this year.

Elsewhere this week the pound will also be under close watch. GDP monthly data will be released today as well as manufacturing production and industrial output. Tuesday will see the latest employment report while there’ll also be day-to-day developments on the Tory leadership race as one strong candidate comes under intense fire over the weekend.

Written by Viv Savani. 8:33am, June 10th 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

8:41am, September 11th 2019

Sterling gyrates as participants weigh up future risks…

View Report
9:21am, August 29th 2019

PM Johnson’s request to prorogue Parliament accepted by Queen…

View Report
8:28am, September 12th 2019

All eyes on the European Central Bank…

View Report


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