Market insights

Market Comment - 8th November 2022

Good morning,

GBP/USD and GBP/EUR rates recovered yesterday. The negative outlook from the Bank of England appears to be priced in now which could lead to a better turn for the Pound.

With a couple of speeches by the BoE's Huw Pill through the day we may see a furthering of the UK's central banks thoughts about the near time forecast.

Business news points towards what could be a leading indicator. Meta (Facebook) is believed to be announcing wholesale job cuts shortly. Twitter has already made the headlines with it's new owner and reported employment changes which could lead on to a more generalised restructuring if the global economy continues as it is at the moment.

Besides the two BoE speeches it looks like China's inflation numbers early tomorrow could be the scheduled news that affects FX rates.


Today’s Economic Calendar

UK: 09:00 BoE's Huw Pill Speech

UK: 16:00 BoE's Huw Pill Speech

CHN: Wednesday 01:30 Inflation Data


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.

Get your free quote now

Economic calendar

Open a free account

It is free and easy