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

7:12am, July 6th 2022

Fed Minutes in the Spotlight

Tuesday’s trading session was intense, to say the least. Recession concerns are now driving market sentiment, and this is pushing risk assets lower and prompting FX traders to buy into ‘safe-haven’ currencies, such as the US dollar, Japanese yen, and Swiss franc. The pound and euro both took a severe beating yesterday with the shared currency falling to a 2 decade low versus the buck. Sterling shed 1.5% against the greenback on the day, tapping $1.19 at its lows. European stocks were down almost 3% at the lows but rebounded marginally into the close. All-in-all it was a brutal day for markets and one which has put the word ‘recession’ at the forefront of market focus.

Today will likely be another day of volatility as investors eye the latest set of meeting minutes from the Fed’s gathering in June. The tone and hawkishness of the minutes will be key and will define the market’s response. At present, with sentiment very negative, it will not take much to maintain that theme. Watch this space.

Written by Viv Savani. 7:12am, July 6th 2022

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

6:37am, July 21st 2022

ECB Announcement in Focus

View Report
8:34am, July 19th 2022

Greenback Weakens

View Report
7:46am, July 29th 2022

The US Enters Technical Recession

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