Market insights

Market Comment - 19th July 2021

Good morning,

Here at Regency FX we hope you all had a great weekend and enjoyed the fabulous weather.

As parts of the UK switch restrictions off, global eyes will be on the Covid data to see whether the government has made the right decision. If they have got it right then the pound could continue to strengthen, and the opposite may be the case if things go downhill.

To business. Firstly let's talk GBP/EUR. There's not much on the calendar for today so don't expect too much to happen. The price has been trading in a steady upwards channel as the pound has slowly gained strength versus the Euro. We expect this to continue if no further news hits the market.

The early hours of the morning tomorrow could see some price volatility as the Chinese rate decision comes out at 2.30am.

Tomorrow also sees some ECB data out at 9am so if you're following the GBP/EUR price that might be the time to have your screens on.

GBP/USD is a slightly different story as the greenback is gaining versus sterling. Overnight the price has dropped below the months trading range so, for now, the dollar has the upper hand. With only some fairly light housing data out tomorrow afternoon for the US this trend may continue for a while.

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

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Todays Economic Calendar 

UK: 11:00 BOE Haskells speech

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