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

9:00am, July 27th 2020

Buck Begins Busy Week On the Back Foot

As the final week of July commences, the greenback remains under short-term pressure in what will be a key week for financial markets. A combination of both tier 1 economic data and central bank announcements will keep participants on their toes and should ensure volatility remains in place from the start to the finish of the week.

One of the main highlights on the data front will be the advanced release of US Q2 GDP. The report is scheduled for Thursday and is expected to be the largest single quarterly drop in US history. The consensus is for a contraction of 34%. This piece of data should be a significant market-mover and one which could help shape the path for the US dollar throughout the remainder of 2020.

The eurozone will also release its Q2 GDP number, this is expected to come in at -11.2% while Germany’s is forecasted at -9%. Both these numbers are released on Thursday and should provide more colour on the recent divergence between Europe and the US which has led to a strong rally in the EURUSD pair.

The Federal Reserve is due to meet this week and provide an announcement on monetary policy on Wednesday evening. The central bank is expected to maintain a policy with no major changes. This will likely be another source of USD volatility this week as the greenback begins the week lower against many of the majors.

Written by Viv Savani. 9:00am, July 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

8:21am, September 24th 2020

All Eyes On The Chancellor’s ‘Winter Economy Plan’

View Report
8:19am, September 10th 2020

All Eyes On The ECB

View Report
8:11am, September 21st 2020

Interesting Week Ahead For Markets

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