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Market Reports

3:04pm, November 27th 2018

Sterling struggles…

Even though EU leaders signed the withdrawal agreement on Sunday morning and offered a few words of support to Theresa May’s cause, sterling ended Monday’s trading session unchanged. PM May took questions from Parliament yesterday and her deal was attacked from all sides of the room. It’s becoming increasing hard to see just where she will get the necessary votes from. She requires 320 votes out of the 650 MPs in Parliament. However, the Conservatives do not have a working majority with 316 MPs. Looking at how many Conservative MPs could rebel, circa 80+, the task looks seriously tough. Lastly, factoring in the DUP Members of Parliament who categorically stated they will not back the agreement and May faces the reality of being voted down. To all companies banking on her deal being passed please take a few minutes to consider the implications of the opposite outcome and its impact on your business. Feel free to consult your Cornhill contact to discuss ways to protect against any potential downside the pound may encounter.

Today’s calendar is rather light, many will be preparing for this weekend’s G20 meeting. This follows comments from Trump last night that he’s prepared to go ahead with new tariffs on China.

Written by Vivek Savani. 3:04pm, November 27th 2018

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. Cornhill International Payments Limited is a limited company registered in England and Wales. Registered number:6260585. Registered office: 4th Floor, 2 America Square, London, EC3N 2LU. Cornhill International Payments Ltd is authorised by the Financial Conduct Authority for the provision of payment services under the Payment Services Regulations 2017 (Reference number: 504494) and supervised by the Financial Conduct Authority under the Money Laundering Regulations 2017.

Previous Reports

10:48am, November 19th 2018

A big few days for UK politics in a holiday shortened week

View Report
10:04am, December 11th 2018

Sterling dumped as more uncertainty appears…

View Report
9:04am, December 14th 2018

ECB confirm end of QE…

View Report

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