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

9:28am, May 15th 2020

Sterling Looking Vulnerable As Week Draws to a Close

Financial markets were incredibly lively across Thursday’s trading session. The main talking point was a huge turn around in global stock indices which had racked up losses of around 1.5% – 2%, only to have a large intraday reversal, seeing them close in the green. Currencies were a little less active, the greenback held its ground while sterling continued to look weak.

The pound has encountered a noticeably soft week of trade, surrendering almost 2% against both the euro and US dollar. Data-wise, Q1 2020 GDP was not as bad as expected which was a similar case for manufacturing production. However, after another week of Brexit talks with the EU, little progress has been made. In fact, there’s essentially been no movement on the main disagreements since day one. Just one more round of negotiations remain until politicians meet in June to decide whether it’s worth carrying on. Watch this space…

Yesterday another 2.98 million Americans were shown to have lost their jobs in the last week. This brings the total up to a staggering 36.5 million since the virus began. Today’s economic calendar is quite busy; we start off with regional and collective eurozone GDP prints for Q1. These are followed up by US April retail sales at lunchtime. A number which many will be watching closely to gauge the economic impact of the virus so far. The afternoon session will see US manufacturing/industrial production as well as consumer sentiment numbers. A busy end to what’s been an interesting week.

Have a good weekend and stay safe.

Written by Viv Savani. 9:28am, May 15th 2020

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

8:14am, May 27th 2020

Greenback Sells Off as Risk Picks Up!

View Report
8:31am, May 11th 2020

Ugly US Employment Report Softens the Buck

View Report
8:23am, May 7th 2020

US Dollar Marches On

View Report

Testimonials

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