Monday’s trading session was a rather muted one. Most major currency pairs traded in already existing ranges and volatility was minimal. This is quite surprising given the time of year; October is characteristically a volatile month and one would expect this year’s to be no different given the recent turmoil across many financial markets.
Yesterday’s focus remained firmly on upcoming trade talks between the US and China as well as Brexit and PM Johnson’s professional and personal battle to ensure the UK leaves the European Union on the 31st of this month. Brexit negotiations continue although it feels we’re currently locked in a stalemate, with the EU wanting new ideas and proposals for the Irish backstop and the UK government not willing/able to provide them. As the clock continues to tick down, Friday will be a key day to watch out for. The EU have set this as the date in which they would like final proposals so they can be mulled-over prior to the next EU Summit the following week.
Today’s economic calendar is light. Main highlights include a couple of Bank of England MPC member speeches, a speech from Fed chair Powell and a producer related measure of US inflation.
Written by Viv Savani. 8:31am, October 8th 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.
8:29am, February 6th 2020
Sterling unimpressed by services PMI, greenback on form…