Login

Market Comment - 20th January 2022

Posted by Andy DyerJanuary 20, 2022

Good morning,

Yesterday we saw an attempted break out to the upside in the GBP/EUR rate taking the rate to levels not seen since February 2020. However it was relatively short lived and the rate descended back to the top of the previous range. It would appear a big news story is needed to make any surge to the upside stick.

Overall it looks likely that traders have priced in the potential interest rate hike for the Pound so all eyes will now be on the unfolding political landscape with the Partygate report hinted at being next week. The defection by a Tory MP to Labour seems to have had the opposite effect than desired and encouraged the other Conservative MP's to rally around Boris Johnson.

So things remain relatively static in the currency exchange rates with no real overnight movement except for the GBP/EUR rate retracing as previously mentioned.

Today sees some big data out from Europe with their Inflation Data where economists are anticipating a 2.6% growth. This will be followed at breakfast time tomorrow by the UK's Retail Sales 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.

Today’s Economic Calendar

EUR: 10:00 Inflation Data

UK: Friday 07:00 Retail Sales

© 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