HOW HAS THE POUND BEEN PERFORMING?
Against the US Dollar
GBP opened the week just above 1.2950 dropping lower early morning as the UK's health secretary Matt Hancock commented having no vaccine for the UK. This Covid related news had an impact again on Sterling dropping below 1.2800 by Monday afternoon. During the mid-week of trading, Sterling had a no real direction but stayed propped up around the 1.2700-1.2750 region, despite the market buying the Safe haven US Dollar. GBP "stayed put", due to positive Brexit talks on Wednesday and Thursday but still remains lower for the week.
The Pound is currently trading at 1.2775
Against the Euro
GBP started the week just above 1.0900 on Monday morning but edged lower as Covid struck Sterling again heading towards the 1.0850 region. Sterling throughout the week was choppy due mixed news on positive Brexit talks and negative Covid 19 announcements, as new cases rose above 6,000 since 10th September, Boris Johnson announced new restriction rules. Despite all of this GBP rose to 1.0950 as of this morning, due to poor EU economic data showing a slow down happening. GBP has gained 50 pips against the Euro for the week.
Brexit, Covid & Economic Data
- If you have US Dollars or Euros to buy or sell please contact the desk. It's important to try and get the timing right with the Pound being very volatile, our desk can try and support to the best we can.
- On going meetings/negotiations with the UK & EU will fluctuate the Pound.
Please note, this can cause a negative impact for Sterling.
28th September - 2nd October 2020
15:30 US Dallas Fed Manufacturing Business Index
10:00 EU Consumer Confidence
13:00 EU German Index of Consumer Price
14:00 US S&P Case Shiller
14:15 US Fed's Williams Speech
15:00 US Consumer Confidence
18:00 Fed's William Speech
07:00 UK Gross Domestic Product
07:00 EU German Import Price Index
07:00 EU German Retail Sales
09:30 BoE Haldane Speech
09:55 EU German Unemployment Rate
10:00 EU Consumer Price Index
13:15 US ADP Employment Change
13:30 US Gross Domestic Product
08:15 Spain Markit Manufacturing PMI
08:55 EU German Markit Manufacturing PMI
09:30 EU Markit Manufacturing PMI
12:30 US Challenger Job Cut
13:30 US Personal Income
13:30 US Initial Jobless Claims
15:00 US ISM Manufacturing PMI
13:30 US Non-Farm Payrolls
13:30 US Average Weekly Earnings
13:30 US Unemployment rate
15:00 US Factory orders