Market insights

Market Comment - 23rd August 2022

Good morning,

The GBP/USD rate continues to negatively push the support line. Today sees the rate at a level not seen since March 2020 when the rate spiked lower momentarily. The trading pattern for the past couple of weeks looks a little different this time around and EUR/USD has now seen a level not reached since 2002. The Dollar is very much the flavour of the month with the ongoing conflict in Ukraine.

GBP/EUR is a slightly different story where the rate remains towards the upper end of the range.

Plenty of global data out today with S&P manufacturing and services numbers being reported. First out of the traps is Europe followed by the UK then the US. Throw into the mix a speech by the ECB's Fabio Panetta and European consumer confidence numbers later and it could be an interesting day.

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Today’s Economic Calendar

EUR: 09:00 S&P Global Manufacturing and Services

UK: 09:30 S&P Global Manufacturing and Services

EUR: 12:00 ECB Panetta Speech

US: 14:45 S&P Global Manufacturing and Services

US: 15:00 New Home Sales

EUR: 15:00 Consumer Confidence

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

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Economic calendar

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.

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