Market Comment -26th October 2022

October 26, 2022
Market Comment -26th October 2022

Good morning,

The Pound has continued to strengthen versus the Euro and the Dollar. GBP/USD is in particular focus as the rate has pushed through technical resistance and could lead to a longer term recovery from here. The next 24 hours will be particularly telling.

General business news is dominated by cost of living, cut backs and drops in revenue in big firms such as Google and Microsoft. The fizz has certainly been coming off tech stocks recently. This is indicative of an already well publicised global slow down. Almost inevitable after Governments around the world grappled with the pandemic.

Outside of that it's a relatively quiet day on the scheduled news front. The new Prime Minister has his fist cabinet meeting today and other than that it's mainly Canada centric news to watch out for.

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Today’s Economic Calendar

CAN: 15:00 Bank of Canada Interest Rate Decision

CAN: 15:00 BoC Monetary Policy Report

CAN: 16:00 BoC Press Conference

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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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