Market Comment - 1st March 2022

Posted by Stuart PritchardMarch 1, 2022

Good morning,

Sterling remains under pressure versus most majors including the Dollar, Australian Dollar and the Canadian Dollar. Against the Euro it's holding it's own for the moment. However the continued failure to break out to the upside could be ominous for a retest of the mid term low of the range.

Against the US Dollar that's to be expected as traders move their positions to perceived safe havens such as the Greenback.

Overnight Chinese manufacturing data came in slightly above expectations which is an ongoing sign of the global recovery following the pandemic.

However it's the Ukraine situation that is obviously dominating headlines with further escalation in the last 24 hours including reports of a substantial Russian military convoy heading towards Kyiv. It seems a little unreal that we could be talking about this type of thing in this day and age of globalisation and communication.

Today sees a speech by the ECB President, Christine Lagarde, along with German preliminary inflation numbers, manufacturing data from the US and speeches from the Bank of England. It could be another volatile day in the markets.

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

EUR: 13:00 ECB' Christine Lagarde Speech

GER: 13:00 Preliminary Inflation Data

US: 15:00 ISM Manufacturing Data

UK: 18:30 BoE's Michael Saunders Speech

UK: 19:00 BoE's Catherine Manns 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.

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