Market Comment - 22nd November 2022

November 22, 2022
Market Comment - 22nd November 2022

Good morning,

Today saw the UK borrow £12.728 billion in October. However this was below the forecasted £15.376 billion. The borrowing was put down, in large part, to the Governments energy support scheme. As this was slightly better than expected it has actually caused a very minor weakening of the Pound as it takes a modicum of pressure off the Bank of England to support the economy.

With very little news scheduled for today other than European consumer confidence it's unlikely there will be big volatility in FX markets short of a global news story.

The Pound has been gaining nicely versus the Australian Dollar. However the rate remains well below mid term highs back in February 2022.

Tomorrow sees a bit more news scheduled with the monthly, global services and manufacturing purchasing managers indices being released.

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Today’s Economic Calendar

CAN: 13:30 Retail Sales

EUR: 15:00 Consumer Confidence

NZ: Wednesday 01:00 Reserve Bank of New Zealand Interest Rate Decision

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As ever we look forward to keeping you in the loop and look out for our next update.

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Economic calendar

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.

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