Market Comment - 9th December 2021

Posted by Stuart PritchardDecember 9, 2021

Good morning,

Yesterday we used this phrase in our Market Comment "So for now the Pound is softening up but we don't expect this to move vastly without a bigger news story." It's fair to say that yesterday saw that bigger news story for the Pound. Moving to Plan B by the Government had been knocked back previously. However the doubling up of Omicron cases every 2 to 3 days has caused a quick shift. It's fair to say No 10 might not be holding any Christmas parties this year....

The news started getting priced in through the afternoon and looks to have steadied down now.

What's going to be interesting is how other countries respond to this outbreak of the new strain. Indications are that it's a lot more transmissible than previous variants and the UK appears to have been very quick to respond. Maybe other countries will follow so the the next week will be interesting in the markets.

The markets are more likely to be at the throes of global news stories rather than scheduled data for the near term unless there's a significantly number out compared to consensus.

This afternoon sees Initial Jobless Claims from the US. However the bigger news will be at breakfast tomorrow with the UK publishing its GDP, Trade Balance and Industrial Production 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

US: 13:30 Initial Jobless Claims

UK: Friday 07:00 GDP, Trade Balance and Industrial Production 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