Market insights

Market Comment - 13th August 2021

Good morning,

Friday 13th looks to be playing out for the Pound right now. Racy inflation data from the States yesterday afternoon seems to have caused traders to sell Sterling and buy the Dollar. With the GBP/EUR rate at a point of technical resistance this seems to have had a knock on effect to the price of the Pound versus the Euro.

The Michigan Consumer Sentiment Index later today in the US will determine if the Pounds sell off continues.

Overall the sentiment appears supportive for the Pound however so this should be a short term move to the downside. However, as previously mentioned, we are at the throes of global news stories around the pandemic so the risk going into the weekend will be any stories that come out whilst the markets are closed over the weekend.

It will be interesting to see how the markets open next week. Fingers crossed we see a rebound in the Pound. Japanese GDP data out in the early hours of Monday combined with Chinese Retail Sales could create some volatility at the open.

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: 15:00 Michigan Consumer Sentiment Index

JPN: 00:50 (Monday) GDP Data

CHN: 03:00 (Monday) Retail Sales

Open a Personal Account

Open a Business Account

Get your free quote now

Economic calendar

Open a free account

It is free and easy