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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
Yesterday saw a much needed recovery for the Pound versus the Euro and the Dollar following the comments by the Bank of England's Governor, Andrew Bailey, on Tuesday evening. General rhetoric suggests the firm hand being played by the BoE isn't necessarily helping the Pound right now. However the BoE is caught between a rock and a hard place as it tries to deal with the mini (at this time non costed) budget. International bodies such as the IMF have put a gloomy outlook on the UK economy believing it's not necessarily a time for tax cuts and more a time for cutting back.
All of this doesn't really bode well for the Pound. Uncertainty ahead of the Chancellors big reveal at the end of October will probably dominate proceedings. However that can also turn on a sixpence as other developed countries start working out what to do about rising global prices. European news is centred on the war in Ukraine. However that doesn't necessarily reflect what's going on in each individual country. Germany released their inflation number this morning which was an attention grabbing 10.9%.
The next 24 hours are crucial in the inflation stakes. At late lunch the US releases its inflation number (analysts predicting 8.1% growth) whilst the early hors of tomorrow it's China's turn to deliver their number. Analysts are expecting a more modest 2.8% growth for China. There's also the weekly jobless claims for the US today so the Dollar could be in for a bumpy ride.
Besides the BoE blip for the Pound on Tuesday night, Sterling appears to be in a very modest overall recovery versus the Euro, so this is a rate we will be keenly following today.
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Today’s Economic Calendar
UK: 12:00 BoE's Catherine Mann Speech
US: 13:30 Inflation Data
US: 13:30 Initial Jobless Claims
CHN: Friday 02:30 Inflation Data
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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.
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.
