Login

Market Comment - 5th January 2022

Posted by Stuart PritchardJanuary 5, 2022

Good morning,

The GBP/EUR rate remains right at the top of the 12 month range. This is promoted by a number of points, the two most salient of which are the UK's current response to the Omicron variant and also the UK's moves with regards to the Bank of England interest rate which is expected to be increased again this month.

The longer the Pound rate stays at this level the more likely it is to break out to the upside. However the flip side of that argument is if the rate gives up it's gains it could drop very quickly as profit taking ensues.

The Euro versus Pound story is similar with the other majors such as the Dollar, Canadian Dollar, Japanese Yen, Australian Dollar, Swedish Krona and Turkish Lira. The Pound looks strong, but the rally has slowed down therefore into a bit of a range across the board.

Today sees a return to US led data with ADP employment numbers and the US Federal Open Market Committee (FOMC) minutes which could move the Dollar rate.

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: 13:15 ADP Employment Change

US: 19:00 FOMC Meeting Minutes

© 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