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

9:59am, March 16th 2020

Central Banks Take Action Over The Weekend

Sunday afternoon saw more emergency action from central banks to curb the economic impact of Covid-19.
 
Firstly, the Reserve Bank of New Zealand slashed interest rates by 0.75% to a record low of 0.25%. This sent the Kiwi dollar plunging by over 2% as FX markets reopened for a new week of trade. 

However, just as markets were finding their feet the Federal Reserve stepped in for another dose of emergency action. This time, they opted for the bazooka. They lowered interest rates to 0% – 0.25% corridor and also announced the recommencement of quantitative easing. They confirmed that they will purchase $700-billion of treasury and mortgage-backed securities.
 
Markets were not overly impressed by these developments. The greenback weakened mildly while stock markets opened sharply lower. Many investors are still highly nervous about what lies ahead. Even though central banks are providing huge amounts of accommodation it’s still not enough to tempt investors back in.
 
This week’s price action will be completely dominated by what occurs in respect to Coronavirus and the measures taken to stem its negative impacts. Central banks have been incredibly active over the previous few weeks and it’s now become clear their ammunition to address the problem is waning. As a result, the focus will be on governments and their actions in addressing the spread.

9:59am, March 16th 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

8:51am, March 3rd 2020

Risk-on Start To The Week – Focus On Central Bank Stimulus

View Report
8:17am, March 18th 2020

Governments Begin Their Stimulus Strategies

View Report
8:33am, March 17th 2020

Market Melt-down As Investors Fear The Worst

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