top of page
Search

25th April - Weekly FX Update

Top Currency Pairs Monday 25th April 9:00 UTC GBP/USD: 1.27464 (Last Week: 1.30389) EUR/USD: 1.07431 (Last Week: 1.08080) GBP/EUR: 1.18648 (Last Week: 1.20641)


Market News

Pound Sterling Pound Sterling took a turn on Friday as UK consumer confidence levels fell while the cost-of-living crisis continues to worry the public. However, the real drivers were from US rhetoric and the French presidential election. The Pound opened this week lower against the Dollar as Jerome Powell's hawkishness all but confirmed aggressive rate hikes at the next meeting. Against the Euro, Macron's election victory gave the European currency a brief boost, sparing the markets the shock and uncertainty of a Le Pen win. It is difficult to see how far Sterling's decline may go, but all eyes are on the Bank of England (BoE) meeting on the 5th May. Until then, the markets will be guided by interest rate speculation with limited data released this week. Andrew Bailey, the BoE governor is once again set to speak on Thursday.


Euro The Euro received a nice boost on Sunday as Emmanuel Macron defeated Marine Le Pen to be re-elected as French president. Many analysts claimed a 'Brexit-like shock' would have occurred if Le Pen was victorious as the markets had underestimated the risk of a surprise. Macron secured 58.5% of the vote, allowing the Euro to open higher against the Pound, but actually lower against the Dollar. The markets have breathed a quick sigh of relief, but the focus moves back to geopolitical matters which continues to weigh on global markets. This week, the German economy will see IFO Business Sentiment released, with a small dip expected.


U.S. Dollar The Dollar picked up some headwind at the end of last week, as speculation around rate hikes in the near future were practically confirmed by Federal Reserve (Fed) chair Jerome Powell. Speaking at the International Monetary Fund on Thursday, Powell as good as committed to a 50bps rate hike in May, which promptly sent stocks and bonds down, with the S&P 500 falling heading into the weekend. Investors are now pricing in a third consecutive 50bps rate hike before the end of 2022. Powell's extreme hawkishness combined with the Bank of England's cautiousness and the European Central Bank's reluctance to move interest rates has powered the Dollar forward in the currency markets.


If you require alternative currency pair updates, please get in touch and we can arrange for a personalised weekly newsletter. For other FX enquiries, or to book a demo, please call us on 020 3908 4662, or email us at info@goxchange.co.uk Disclaimer: This is not investment advice; it is for informational purposes only.



Comentarios


Untitled design.png
  • LinkedIn
  • Instagram

CurrencyCloud

For clients based in the European Economic Area, payment services for Go Xchange Limited are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).

For clients based in the United States, payment services for Go Xchange Limited are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011.

For clients based in the United Kingdom and rest of the world, payment services for Go Xchange Limited are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). 

Currencycloud Terms of Use

GC Partners

Go Xchange's payment and foreign currency exchange services are provided by Global Currency Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN: 504346). Registered as a Money Services Business, regulated by HM Revenue & Customs ("HMRC") under the Money Laundering Regulations 2017. (Registration number is 12137189). Registered in England and Wales. Company number 04675786. Registered Office 3rd Floor 100 New Bond Street, London, England, W1S 1SP.

© 2022 Go Xchange. All rights reserved.

Go Group Holdings

For any formal complaints, please contact us via:

Email: complaints@goxchange.co.uk

Phone: 020 3908 4662

Post: 20-24 High Street, Rayleigh, Essex. SS6 7EF

bottom of page