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

8:30am, March 24th 2020

The UK on Lockdown, Fed Take Additional Measures

After copious amounts of speculation, it’s now official – the UK is on lockdown. Last night, in a pre-recorded video, Boris Johnson announced that more was required from the public to ensure the virus is contained. He went on to announce a full UK lockdown for a minimum of 3 weeks before the situation will be reassessed. The news had little impact on financial markets, the prospect of a full lockdown would have already been priced into various UK assets.

Yesterday saw more action from the Federal Reserve. This is their 3rd major policy move in the last 3 weeks and now takes the level of stimulus provided to well past that of the 2008 financial crisis. In summary, the Fed has promised to purchase an unlimited amount of treasury and mortgage-backed securities. In addition, it has established funds to provide credit to large companies through a system of loans and the purchase of corporate bonds. Finally, it has put aside a provision to assist consumers, small businesses and the money markets. They’ve gone to unprecedented levels to ease concerns. Stock markets reacted positively to yesterday’s announcement while the greenback sold off. However, all of these moves were reversed in the afternoon as fear reigns king.

Today is fairly important in the context of economic data. This morning sees flash (reflecting the current month – March) purchasing manager index reports. These are the most up to date reflections of current business activity from the manufacturing and service sectors. The UK numbers will be released at 0930 while eurozone figures will be scattered across the morning with most notably, German reads crossing the wires at 0830. Across the pond, our friends in the US will print their numbers at 1345. These data-points are the first true gauge of how significant the impact could eventually become. No doubt, financial markets will be ready to react depending upon the various outcomes. Positive news would see a weaker US dollar mixed with a move higher in global equities; negative surprises would see the opposite.

Be safe.

8:30am, March 24th 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

8:51am, July 9th 2020

Sunak’s Statement Helps Sterling Shine

View Report
8:45am, July 1st 2020

The Pound Fights Back

View Report
8:35am, July 2nd 2020

Dollar Under Pressure

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