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

8:55am, March 26th 2019

Parliament votes to take control of Brexit…

In another blow for beleaguered PM Theresa May, the House of Commons voted 329 vs. 302 to take back control of Brexit and hold a new round of votes on a series of options which may radically alter the shape of Brexit.

Yesterday came as no shock to the millions of Brexit watchers across the world, once again, May’s authority has diminished (well, what’s left of it anyway?!). It’s now clear, Parliament desires control over the direction and future form of Brexit, which could put a number of new options on the table. These could well include and not be limited to: closer-styled EU relationship options (e.g. Norway), no-deal, cancelling Brexit, a 2nd referendum or even a general election.

The votes are set to take place on Wednesday and are non-binding. The government has already made it apparent they cannot guarantee to honour any potential outcome as a) they don’t yet know what it is and b) they don’t know whether it would be negotiable from an EU perspective. The pound is still in limbo, stuck in tight ranges against its major peers (GBPEUR: €1.15 – €1.17 and GBPUSD $1.30 – $1.33). Last night’s developments had little impact on sterling but no doubt the votes which lie ahead could well do so. PM May is expected to hold her meaningful vote pt.III at some point this week. Her cause was boosted by confirmation yesterday that influential Tory MP, Jacob Rees-Mogg would be happy to back her deal if the DUP were on-board. The plot thickens…

Today’s trading session is light on economic numbers. The main focus for currency markets will remain on Brexit as well as ongoing US/China trade talks. One event of note comes this evening as the Reserve Bank of New Zealand hold a policy decision with the central bank expected to maintain interest rates at 1.75%.

Written by Viv Savani. 8:55am, March 26th 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

9:31am, July 25th 2019

Boris enters No.10, all eyes on the ECB…

View Report
8:28am, July 29th 2019

Huge week for financial markets – volatility expected…

View Report
8:59am, August 1st 2019

Fed cut rates but the US dollar strengthens…

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