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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
GBP rates remain relatively sideways moving at the moment versus most of the majors listed as the Euro, Dollar, Canadian Dollar, Australian Dollar, Japanese Yen, Swedish Krona and Turkish Lira. With no immediate catalysts this could well be how the rate changes go into the weekend.
From a currency perspective the main news is that Russia is demanding that oil and gas are paid for in Roubles by countries opening Russian bank accounts. This is a strong arm move to support the ailing Rouble which, at one point, had lost 57% of it's value against the Dollar. However the Rouble rate has been climbing and recovering since.
Business headlines continue to be dominated by the rise in household energy costs which came into effect at midnight. This coupled with an unseasonal cold spell is a firm reminder that whilst the economy is recovering on paper it's not as fast as the cost of living is accelerating.
Today's scheduled economic news continues to be dominated by the States. The highlight is the non-farm payrolls out at lunch time where analysts are predicting a 490,000 job growth. Anything North of this should see the Dollar move up and anything below this should see the Dollar decline. In reality the actual number will have to be significantly off the prediction to cause a big move either way.
As ever we look forward to keeping you in the loop and look out for our next update.
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Today’s Economic Calendar
US: 13:30 Non Farm Payrolls
US: 15:00 ISM Manufacturing PMI
