Market Comment - 11th July 2022

July 11, 2022
Market Comment - 11th July 2022

Good morning,

Employment numbers in the US came in stronger than expected. Analysts had predicted growth of 268,000 jobs but the actual number was 372,000 extra jobs. This news has further stabilised the Dollar which remains strong versus the Pound.

GBP/EUR remains in a sideways movement towards the middle of the recent range. Political upheaval in the UK means this is likely to continue for some time although any news as the candidates for the role of PM start to thin out might cause volatility. The headlines in this respect are dominated by potential tax cuts to individuals and businesses.

There is also a speech by the Bank of England Governor, Andrew Bailey, later today that could also create moves for the Pound.

Other than that it's a fairly quiet day for scheduled news so we are not expecting high volatility today.

As ever we look forward to keeping you in the loop and look out for our next update.

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