+
For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
.png){kind=logo}
For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
GBP/EUR appears to have calmed down a bit at the moment and tracking sideways in a tight range. This is to be expected ahead of the Bank of England's numbers out tomorrow. The UK has been under the spotlight recently with the political turmoil and the to and fro of Prime Ministers. This has put intensified scrutiny on the BoE interest rate decision tomorrow. The BoE directly opposed Ms. Truss and Mr. Kwarteng during their brief stint in office meaning tomorrow will be interesting. The expectation is for a 0.75% (75 basis points) hike to 3%. Anything either side of that could cause a big shift in Pound rates.
It's a similar story for GBP/USD, GBP/AUD, GBP/CAD and GBP/NZD. Traders seem to be on tenter hooks ahead of tomorrow.
GBP/USD could easily be affected today though as the FED announces it's interest rate decision and the FOMC has it's press conference. Analysts are expecting a 0.75% hike there also taking their base rate up to 4%.
Overnight we also saw the BRC Shop Price Index at 6.6% indicating a furthering of price hikes at the till. Cost of ingredients, energy prices and staff shortages were seen to be the cause.
Besides the big news from the US there's also employment change data out from the US today and late breakfast tomorrow sees a couple of speeches from the ECB.
CLICK HERE FOR YOUR FREE QUOTE
Today’s Economic Calendar
US: 12:15 ADP Employment Change
US: 18:00 FED's Interest Rate Decision
US: 18:00 FED's Monetary Policy Statement
US: 18:30 FOMC Press Conference
EUR: Thursday 08:05 ECB President's, Christine Lagarde, Speech
EUR: Thursday 08:30 ECB' Fabio Panetta Speech
CLICK HERE FOR YOUR FREE QUOTE
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.
