Global Reach is becoming Corpay Cross Border, part of FLEETCOR, to broaden our client offering. Please contact our team or visit to find out more.

Data supports UK rate rise

Today's news headlines: 

‘Germany’s latest Coronavirus crisis is getting out of control’. Europe’s largest economy is facing its biggest test of the pandemic as infection and death rates surge, stretching the country’s health system. With cases doubling every 12 days, health experts are calling for tougher social restrictions to control the outbreak. Meyer-Hermann, an immunology expert, has warned ‘the urgent wave…will not be stopped by vaccinations’ as it takes weeks for people to build full protection. (Bloomberg)

‘UK Retail Sales rebound after longest ever run of declines’. Retail Sales have grown for the first time in six months led by toys, sporting equipment, and clothing, providing reassurance to the Bank of England that household spending is resilient to rising inflation. Data released earlier this week further supported the notion that the Bank of England may raise interest rates in December as the UK’s Unemployment Rate fell despite the government’s furlough scheme coming to an end. (Bloomberg) 


US and European equity futures rose overnight following Asian equities led by China. While gold prices remained stagnant, Treasury yields along with crude oil, iron ore, and copper rose.


Gfk Consumer Confidence: -14 vs -17 previously
UK Retail Sales y/y: 1.3% (exp. -2.0%)
Canada Retail Sales: (exp. -1.7%): 1:30PM
European Central Bank President Christine Lagarde speaks: 8:30AM and 6:00PM
Federal Reserve representatives speak: 3:45PM and 5:15PM

Interbank rates:

GBP/USD – 1.3488
GBP/EUR – 1.1900
EUR/USD – 1.1334
USD/CAD – 1.2601

The markets are moving. To speak to our team, please call +44 (0)20 3465 8200.