Login

Market Comment - 16th August 2022

Posted by Stuart PritchardAugust 16, 2022

Good morning,

This morning the average earnings for the UK came in at 5.1% growth which was slightly off expectation. However, when factored against inflation the reality is that wages actually fell by 3% in real terms. This is the sharpest fall since records began. Conversely it was reported that there were 1.274 million job vacancies in the second quarter and unemployment in the UK remains at 3.8%. Bit of a mixed bag all around.

This has had little effect on Pound rates - here's the round up:

GBP/EUR tracking sideways towards the top of the mid term range,

GBP/USD rates are on a technical support line at time of writing. Overall the Dollar has been dominant for some time and rates are poor when compared to historical rates.

GBP/AUD recently the Pound has been weaker but rates still remain towards the middle of longer term ranges.

GBP/CAD offers a very similar picture to GBP/USD.

Today sees Canadian inflation numbers out and overnight there's Japanese import and export data. However the real story for Pound rates is at breakfast tomorrow when the UK's inflation numbers are out. Analysts are expecting 9.8% growth further exacerbating the cost of living situation.

Today’s Economic Calendar

CAD: 13:30 Inflation Numbers

JPN: Wednesday 00:50 Imports and Exports

UK: Wednesday 07:00 Inflation Numbers

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.

© 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.

Payment services for Regency FX Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB).

License No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951

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