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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
The GBP/EUR rate remains at 12 month highs. The rate has broken out of the previous range. However it's not pushing on in a hurry which would indicate yesterdays inflation data is now priced in and traders have found a comfortable level. The next 24 hours could be very indicative of the next leg which should see either a compression back into the range or a true break to the upside.
Against the Dollar the Pound looks strong also with a nice bounce to the upside this morning. We are watching this rate closely as the correlation appears to have resumed for the Pound against the majors. Today could be quite telling on the next phase of the Pound strength.
There are a couple of news stories that appear to be under the radar but could have a more reaching effect. In China, Evergrande, the property company we discussed recently, are starting to sell off parts of their business such as HengTeng, a streaming TV service. This looks to be a streamlining strategy to bolster their cash position allowing them to continue with their core business and could take the heat out of the potential credit crisis in China.
It's also reported that Amazon will stop accepting Visa credit card transactions in the early part of 2022. Another indication of the influence that tech giants have on day to day spending.
Looking ahead to today the scheduled data looks quite thin. There is employment data out in the US later. However any possible volatility could come early tomorrow morning with the UK reporting retail sales figures followed by the ECB presidents speech.
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.
Today’s Economic Calendar
US: 13:30 Initial Jobless Claims
UK: Friday 07:00 Retail Sales figures
EUR: Friday 08:30 ECB Lagarde's speech
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.
