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

8:16am, July 28th 2020

How Low Can The Greenback Go?!

Yesterday produced another round of US dollar selling as market participants flocked into currencies which are normally perceived to be a riskier choice. The EURUSD pair rose to just shy of $1.18 while the pound managed to brush against the $1.29 level. Commodity currencies had an impressive day and even the Japanese yen capitalised with USDJPY beginning to break down.

The weakness comes at the start of what will be a busy week for the US economy and in particular its currency. It’s a chock-a-block week for US company earnings, mixed with key data releases, an FOMC announcement, and ongoing discussions in Congress concerning new stimulus measures for the American people.

While there is always a chance the USD selling continues, many investors are using this latest move to build longer-term positions in the US dollar. The speed of the latest move indicates the potential for a snapback. In addition, the rate of infection across many troubled states is starting to slow down. If both the Federal Reserve and US government can ease concerns this week, the market may become more comfortable holding onto US dollars. The reality is, even though Europe appears to have things under control for the moment, it would still most likely be the US who begins to raise interest rates first when the economic crisis subsides.

Written by Viv Savani. 8:16am, July 28th 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

8:36am, September 14th 2020

Big Week For Markets

View Report
8:25am, September 8th 2020

Greenback Begins The Week Firmer

View Report
9:13am, September 1st 2020

Data-Heavy Week, US Dollar 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