Login

Market Comment - 7th December 2021

Posted by Stuart PritchardDecember 7, 2021

Good morning,

The short term weakness in the GBP/EUR rate appears to have slowed down for a moment with a little recovery back into the middle of the longer term range. The bump may have been helped with the continuing strength in the property market in the UK. Therefore it's a bit of a coin toss to think where the rate might go in the short term.

Against the dollar things don't look quite as rosy. Although the rate appears to have stopped dropping the great trend is to the downside as the market continues to be risk off around Omicron and upcoming Christmas.

Contributing to this is that international travel seems to be under fire from a number of directions with most countries putting in strict requirements for entry including Spain who have decided unless you're double jabbed you're not allowed in at all.

There's also increased talk around mandatory jabs which is a big step that some of the major economies are putting in place such as the US and Germany.

Sterling versus the Australian Dollar has taken a bit of a turn to the downside in the last week. This was to be expected as the rate had reached 12 month highs again so it needed to strong news story to push it through the resistance that didn't come in.

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 Confirmed GDP data

JPN: 23:50 GDP data

© 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