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

9:50am, May 1st 2019

Labour Day holiday set to reduce flows – volatility still expected…

Much of the globe will be observing the Labour Day holiday today. Flows across financial markets, especially foreign exchange, will be reduced. However, with a number of important releases scheduled from both the UK and US today, volatility should remain. This very much applies to the GBPUSD pair, which should encounter the strongest flows given the economic data in question.

Yesterday saw a generally weaker US dollar. There was also strong levels of demand for the pound which could not be pinpointed to any one particular reason. There were no UK data releases nor were there any significant developments on the Brexit front. The most likely reason for the move was simply month end flows ahead of today’s holiday. The pound will remain in focus today as the 1st report of 3 monthly PMIs is set for release at 0930. Today will see a snapshot of the manufacturing sector.

The main event of today’s trading session will arrive this evening with the latest dose of monetary policy analysis from the Federal Reserve. Once again, the central bank will provide updated economic forecasts whilst releasing a statement and holding a press conference. The greenback will be in the spotlight again and mostly with solid tailwinds behind it. The US economy is still healthy with almost all its sectors proving resilient in the face of a business cycle which is now approaching its 12th year. Before the Fed announcement tonight at 7pm there’ll be a few US reports of note. ADP private payrolls will be crossing the wires at 1315 while manufacturing numbers will arrive at 3pm.

Written by Viv Savani. 9:50am, May 1st 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

8:40am, March 1st 2019

Gravity sets in for sterling…

View Report
8:52am, March 14th 2019

Parliament rejects leaving with no-deal…

View Report
9:11am, February 25th 2019

Volatility expected in the week ahead…

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