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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
UK inflation came in at 10.7%. This is slightly better than the anticipated 10.9% but is still way off the desired 2% target set by the Bank of England. The better number was attributed to lower price rises in fuel. However food costs are rocketing which is frustrating in the run up to Christmas. Food prices have risen 16.5% in the last 12 months.
The inflation numbers haven't had much effect on Pound rates however. GBP/EUR barely flinched and is tracking sideways. GBP/USD had a strong surge to the upside yesterday on the US inflation numbers. However the rate has settled down subsequently. This rate might be rattled later when the FED announces its interest rate decision. Analysts are expecting a 50 point (0.5%) hike to 4.5%. Either side of this could cause shockwaves. Yesterdays inflation numbers from the US could have the FED reducing that hike as inflation appears to be slowing down in the States.
It's going to be a lively 24 hours. Besides the US rate decision there's the FED's monetary policy statement, projections and press conference. There's also the New Zealand GDP numbers out later. This is followed by Australian employment data early tomorrow and Chinese retail data.
Business news centres on the inflation numbers with the secondary headlines referring to the strike action happening today on rail networks and postal workers.
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Today’s Economic Calendar
US: 19:00 FED Interest Rate Decision
US: 19:00 FED's Monetary Policy Statement
US: 19:00 FOMC Press Conference
US: 19:00 FOMC Economic Projections
NZ: 21:45 GDP Data
AUS: Thursday 00:30 Employment Numbers
CHN: Thursday 02:00 Retail Sales
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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.
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.
