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

8:43am, April 27th 2020

Big Week for Central Bank Announcements

As traders and dealers gear up for the final few days of April, the focus will shift from economic numbers to central bank announcements. This week sees 3 major meetings take place, all of which could have profound implications for the market place.

Just as governments are beginning to roll out plans and ideas to ease lockdown restrictions, we have 3 of the world’s largest central banks offering insight into how they will continue to nurse their respective economies back to health. First up, the Bank of Japan has held interest rates firm at -0.10% overnight. However, similar to many other central banks, they’ve now removed all limits on government bond purchases, ensuring the Japanese government has access to cheap money. The Japanese yen is a little weaker against the pound as we begin the European trading session.

Later this week both the FOMC (Federal Open Market Committee) and the European Central Bank will hold announcements. The Fed has recently boosted its already huge balance sheet to an incredible $6.42-trillion. They’ve also lowered interest rates to near-zero across a number of emergency meetings they have conducted. As a result, Wednesday’s announcement may not see too much concerning policy action but may see an emphasis on how the central bank intends to continue to stabilise the economy and which financial assets they’re willing to purchase.

The European Central Bank has their announcement and press conference on Thursday. The €1-trillion they committed to inject into the economy is expected to run out by October. As a result, many are predicting that they will have to commit more funds to ensure the eurozone region is properly supported for an extended period. Confirmation of this may arrive as early as this week’s announcement.

Elsewhere, 2020 Q1 GDP releases are expected from both the eurozone and US. Many will also be keeping a close eye on the price of oil as well as the return to work of the UK Prime Minister, Boris Johnson.

Written by Viv Savani. 8:43am, April 27th 2020

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

8:35am, June 3rd 2020

Dollar Still Under Pressure

View Report
8:35am, May 21st 2020

Heavy Day for Data as Dollar Attempts to Rally

View Report
8:43am, May 20th 2020

US Dollar Remains Pressured

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