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

Running down the clock

Today’s news headlines:

‘Johnson and Von der Leyen hold secret fishing talks on post-Brexit trade deal’. In a classic sign of ‘tunnel negotiations’, the UK leader and President of the European Commission held secret talks to try and unlock a compromise on fisheries. This is widely noted as the last major sticking point in UK-EU free trade negotiations, which is likely to go right down to the December 31st deadline. EU rights to UK waters only account for around €650m but is an issue that plagued negotiations from the start. Both sides are likely to settle for a compromise, which sees the EU reduce access by 25%, but we await official confirmation. (Financial Times)

‘Trump demands changes to $900bn US stimulus bill’. The outgoing US President has rejected a jointly agreed $900bn stimulus bill, calling the economic relief package a ‘disgrace’. Trump criticised the bill for its new round of direct payments of up to $600 for American adults, instead calling for payments of $2,000, or $4,000 for a couple. The stimulus bill was delivered to the US President attached to wider legislation to fund the federal government and avoid a shutdown. If Trump does not sign the bill by the start of next week, the federal government will be shut down from December 29th. (Financial Times)

Today's events, rates, and data 

  • The Pound has jumped back above the $1.34 interbank level this morning, as market participants refuse to price in a no-deal Brexit outcome. Sterling was also boosted by the news that France had re-opened its border with the UK. This morning, US stock futures are lower, whilst US treasuries and gold tick higher.

Today's events

German Import Prices: 0.5% vs 0.3% previously
US Durable and Core Durable Goods Orders: 1.30pm
US Core PCE Price Index: 1.30pm
US Weekly Jobless Claims: 1.30pm

Interbank rates

GBP/USD: 1.3440
GBP/EUR: 1.1015
EUR/USD: 1.2200
USD/CAD: 1.2885

Over the Christmas period, our opening hours are changing. On 24th December we will be open from 8am – 2pm, and from 29th – 31st December from 9am – 4pm. To speak to our team, please call +44 (0)20 3465 8200.