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

8:45am, January 2nd 2019

Investors return to their desks faced with a US government shutdown…

2019 has already started with drama over in the US with a government shutdown that has been in effect since just before Christmas. With over 30% of government departments out of action it’s left the greenback with few friends and has consequently allowed its peers to take advantage with the pound and euro pushing toward the $1.28 and $1.15 levels, respectively. Now that participants are heading back to their desks to commence the new year, should this saga continue, then we may well see a US dollar which continues to give up ground. There are signs that Trump is looking to strike a deal but it’s early days yet – for now the buck remains under pressure.

The holiday-shortened week does contain a number of important releases which could set the tone for the month of January. From the UK’s perspective, the next 3 days will offer us a new set of PMI numbers which reflects activity from December; today will be manufacturing followed by construction tomorrow and the all-important services report on Friday. In addition to these releases, we’ll also be following the Brexit situation very closely. Time is running short will no solution in sight. The next few months could be the most important in the process so far. GBP exposed clients be aware. The pound already looks set to test the €1.10 against the euro and in respect to the greenback, shut down or no shutdown, any bad news and GBPUSD will be heading south.

Elsewhere, this week sees manufacturing data from across the globe, this includes Europe and the USA. Additionally, the first Friday of the month always brings the US jobs data. Thursday sees the private payrolls number while Friday sees the full report which includes both the private and public sectors as well as the unemployment rate and average hourly earnings. No doubt the report should be impacted by the current government shut down. Happy New Year – all the best for 2019!

Written by Viv Savani. 8:45am, January 2nd 2019

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

11:37am, November 15th 2018

Sterling volatility at extremes as May achieves cabinet approval

View Report
10:04am, December 11th 2018

Sterling dumped as more uncertainty appears…

View Report
8:32am, January 8th 2019

FX markets begin the week on steady footing…

View Report

Testimonials

Our Clients Say

"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