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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
There wasn't much in the scheduled news out yesterday. Most numbers came in around the analysts expectations therefore rates were relatively stable. GBP rates versus the other major currencies are tracking sideways at the moment following a general recovery after the mini budget. Rhetoric from the Prime Minister and the Chancellor seems to have calmed things down for the moment.
However it does look as though rates could turn volatile rather quickly if either a positive or negative story comes to the market. The recent sharp moves demonstrate how things can turn on a sixpence at the moment.
Oil took a bit of a hike yesterday on the back of the OPEC meeting where it was decided oil supply would be cut to stave off falling oil prices. This, in turn, could have a knock on effect at the pumps.
Other business news centres on the proposed strike for nurses. Whilst it's been clear this would not affect emergency care it's yet another blow to critical services provided in the UK. The ballot to decide on a walk out is finalised in November.
Today sees retail sales in Europe early on followed by jobless claims in the US. Analysts are expecting monthly contraction of 0.4% for the retail sales and 200k jobless claims in the US. The Halifax reports it's house prices at breakfast tomorrow where economists are predicting 0.5% month on month growth and 9.8% year on year growth indicating an ongoing, strong housing market. However it must be noted this is a national average and regional variations could be much wider.
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Today’s Economic Calendar
EUR: 10:00 Retail Sales
US: 13:30 Jobless Claims
CAN: 16:35 Bank of Canada Tiff Macklem Speech
UK: Friday 07:00 Halifax House Prices
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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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