Daily Market Report 23rd November

Good afternoon everyone,

 

Bank of England rate setter Michael Saunders warned that the UK economy faces growing capacity pressures and that interest rates may rise more quickly than is currently priced into markets. Meanwhile, the European Central Bank’s Praet noted that while downside risks for the Eurozone growth were mounting, the outlook was nevertheless normalising. 

Media sources reported yesterday that the UK and the EU have agreed a draft political declaration on their future relationship. This suggests sufficient progress has been made for the heads of the other EU governments to sign off the Brexit deal at their special EU summit on Sunday. EU Council President Tusk confirmed that the draft had been sent to member governments. Meanwhile, UK PM May stated that she would spend the next 72 hours persuading other EU leaders to back the deal.

US markets return from the Thanksgiving holiday today but trading volumes are likely to be light. The November PMIs are the only data of note. These are expected to point to a continuation of buoyant economic growth in Q4. In Canada, September retail sales will be watched for signs of a rebound, while October annual headline inflation is expected to have held at 2.2%.

 

Upcoming Economic Data.

Friday, 23rd November 2018

14:45 US - Markit PMI

Image Image
Governing Bodies and Registrations

Excel Currencies are a fully Authorised Payment Institution with the UK Financial Conduct Authority. ( Ref: 911228) and HM Revenue & Customs (MSB No: 12190705) as a Money Services Business. Excel Currencies ltd are also members of the UK Money Transfers Association (MTA) and the Association of International Property Professionals (AIPP).

Security of Funds

Excel Currencies ltd operate a Safeguarding Client Account System which protects all funds in these accounts against any liabilities that Excel Currencies ltd may have.

Excel Currencies Ltd, Enterprise House, 8 Essex Road, Dartford, Kent DA1 2AU

Registered in England and Wales, No. 05171054

Copyright © Excel Currencies Ltd 2020. All Rights Reserved.

Help Options Available

Contact Us

Live Chat OFF Live Chat ON