Market insights

ECB Cuts 25 Points

Yesterday saw the ECB cut their base rate by 0.25% to 3.25%.

This, plus dovish comments in the ECB press conference, led to the Pound jumping versus the Euro.

The move was further bolstered this morning as the UK retail sales figures were announced.

A contraction of -0.3% was expected. However there was actually a 0.3% growth reported.

The better than expected weather in September has been cited as the main reason.

GBP/EUR has broken out of the highs for now, and with little UK or Eurozone news it could be a good day for buying Euros.

It's the same for the Dollar too, although a raft of speeches from the FED through the day could impact GBP/USD.

Business news centres on the Government relaxing rules on borrowing to support infrastructure projects going forward.

Get your free quote now

Economic calendar

US: 14:30 FEDs Raphael Bostic Speech

US: 15:00 FEDs Neel Kashkari Speech

US: 17:10 FEDs Christopher Waller Speech

US: 18:00 FEDs Raphael Bostic Speech

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.

Open a free account

It is free and easy
Register