Login

Market Comment - 11th March 2022

Posted by Andy DyerMarch 11, 2022

Good morning,

First a catch up on the raft of data out yesterday and this morning so far.

The ECB interest rate decision was to leave the rate at negative 0.5%. Initially this caused a sharp drop in the GBP/EUR rate. However the rate bounced immediately back to where it had traded before the decision.

US inflation came in at a whopping 7.9%. However this was as per analysts predictions meaning the Pound still looks weak versus the Dollar at the moment.

The UK month on month GDP out this morning showed growth of 0.8% against a predicted 0.2%. However this has done little for the GBP/EUR rate where short term momentum is to the downside.

German inflation came in exactly in line with predictions at 5.5%.

The price of oil has calmed considerably now with global suppliers signing up to increased production to offset any pain from Russia....however, as per normal this hasn't been reflected at the pumps yet. Barrel price hikes seem to be reflected in the price of petrol immediately but the price drop doesn't necessarily seem to happen as quick.

Today it's all about US led data with the Michigan Consumer Index out early afternoon followed by the President, Joe Biden, giving a scheduled speech later in the day.

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: 15:00 Michigan Consumer Index

US: 15:15 President Joe Biden's Speech

© 2022. RegencyFX Ltd. All rights reserved. *Third party fees may apply.

Payment services for RegencyFX Ltd are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: The Steward Building 1st Floor, 12 Steward Street London E1 6FQ.

The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). In the US Currency Cloud operates in partnership with CFSB. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc.

Currency Pairs, Approved Jurisdictions and Non-Permitted Activity

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram