The Pound hits multi-month highs

Hi everyone,

Today, Sterling has smashed through £-$1.30 (mid-market) for the first time in 6 months and £-€ rates sit at a 30-month high!

Firstly, US President Donald Trump warned a trade deal with China could be more than a year away and is in no rush to sign one. This, as well as poor manufacturing data this week have weakened the $ and the Pound has capitalized. 

The 0.5% hike for £-€ today came as soon as the London stock markets opened at 8am (what do they know that we don't??). There has been no news as to why the increase has happened, but this is now the best time to buy Euros in 2 and a half years.

£-€1.20 & £-$1.35 (mid-market) are not out of the question by the end of the year, depending on next weeks election result.


 

 

 

Upcoming Data

 

Wednesday, 4th December, 2019


13:15 US - Employment change
14:45 US - Services PMI
15:00 US - Manufacturing/services composite


Thursday, 5th December, 2019


07:00 EU - German factory orders
08:30 EU - German construction PMI
10:00 EU - Euro-Zone retails sales, GDP & Government expenditure
13:30 US - Jobless claims & trade balance
15:00 US - Durable goods & factory orders



Friday, 6th December, 2019


07:00 EU - German industrial production
13:30 US - Non-farm payrolls, unemployment rate & average earnings
20:00 US - Consumer credit 

 
 
 



Dan Waterman
Office Manager

 
 
 


 

 
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