Login

Market Comment - 5th July 2022

Posted by Stuart PritchardJuly 5, 2022

Good morning,

Today continues to see the GBP/USD rate sat near a key support level. Any significant move to the downside could see the rate drop precipitously. However with little US based data scheduled for today it seems unlikely for that to happen. There is a smattering of UK based news out today though including purchasing managers index and the Bank of England's financial stability report.

Against the Euro the Pound seems to be locked in a sideways channel with the rate towards the bottom of the recent range. The Eurozone is also putting out it's purchasing managers index through the morning so maybe this will have an affect on rates.

Sideways moves seem to be the order of the day for Sterling today with not much to show against other currencies such as the Australian and Canadian Dollar.

Broader business news continues to focus on cost of living with Sainsburys providing a sobering view of the back end of the year and predicting that sales will start to decline as consumers look for cost effectivity or even cutting back altogether.

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: 09:00 S&P Global PMI

UK: 09:30 S&P Global PMI

UK: 10:30 Financial Stability Report

UK: 17:30 BoE Silvana Tenreyro 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