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.

Log In Daily Report Contact us Cornhill International Payments Limited Logo
+44 (0) 203 409 5400

Market Reports

6:32am, February 24th 2023

Greenback Set to Rally?

As traders and dealers prepare for the final trading day of the week, attention will remain on the US dollar, as participants weigh up the potential for a fresh rally. Both central bank speakers, as well as economic data, are supporting the renewed calls for US dollar strength. The Fed continues to promote the concept of higher rates for longer whilst the labour market and consumer both appear to be performing well.

The US dollar has seen some buying interest this week, continuing to probe the $1.20 level to the downside against the pound. EURUSD has crumbled since the ECB rate announcement earlier this month. After hitting the $1.1040 level the pair has dropped almost 5 cents to trade in the top half of the $1.05 handle as Friday’s European session gets underway.

The economic calendar today includes German GDP numbers, US PCE inflation metric, and housing data. Will the greenback pick up further momentum?!

Have a great weekend.

Written by Viv Savani. 6:32am, February 24th 2023

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

8:06am, March 24th 2023

BoE Hike 25bps

View Report
8:05am, March 9th 2023

Dollar in the Driving Seat

View Report
8:25am, March 1st 2023

Fresh Data in Focus

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