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

8:26am, October 4th 2019

Pound holding up in the face of weak UK data…

Some might be wondering how the pound has held up so well in the face of an exceptionally gloomy UK economic back drop. Two reasons – more concerning data elsewhere and Brexit hope.

Yesterday’s UK services PMI for September was shocking by any means. The reading printed below the 50 expansion/contraction mark, making it a hat-trick of highly concerning UK September PMI releases this week. Noticeably, the pound has almost ignored all these prints and is focusing its attention elsewhere.

Firstly, our friends in the US appear to be in a spot of bother. This week’s US manufacturing and non-manufacturing ISM prints were both AWFUL! No ifs no buts, US numbers have been very worrying of late. This has ramped up hype that recession is nigh. As a result, weakness in the pound has been netted-off by a higher level of weakness in the buck.

Secondly, Brexit hope still remains very much present. From Boris Johnson’s Conference speech to his appearance in Parliament and even to Jean Claude Juncker’s comments the other week, traders & dealers are building hope a last minute deal can be struck. The consequence being a smidgen of support for sterling.

Today is all about the US non-farm payrolls release for September. This could make or break the greenback. Expectations are low meaning we could see a sharp snapback for the US dollar should the release prove not as worrying as many are now forecasting.

Written by Viv Savani. 8:26am, October 4th 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

8:35am, January 30th 2020

Fed steers the ship steady, BoE in focus now…

View Report
8:41am, February 20th 2020

GBPUSD Falls To 7-day Low Despite Hotter Than Forecast Inflation Print

View Report
8:29am, February 6th 2020

Sterling unimpressed by services PMI, greenback on form…

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