Login

Market Comment - 28th July 2022

Posted by Stuart PritchardJuly 28, 2022

Good morning,

The FED raised their base rate by 0.75% to 2.5% as expected last night. Although it was expected it still caused an immediate fall in the Dollar. We will be following it closely to see if the Pound consolidates its gains.

The US releases its preliminary GDP numbers later so that could have another effect on the Dollar. The reading will also mark whether the US has shifted into recession. The usual way of reading that is to have 2 consecutive quarters of GDP contraction.

In the business news Facebooks owner, Meta, had their first ever slip in revenue overnight although the revenue was still $28.8 billion. Meta controls approximately 20% of all advertising globally so this is a significant bellwether.

There's also European consumer confidence numbers out shortly and a raft of Japanese data out early tomorrow morning.

Today’s Economic Calendar

EUR: 10:00 Consumer Confidence

US: 13:30 Preliminary GDP Numbers

JPN: Friday 00:30 Tokyo Inflation and Employment Data

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