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Weekly market update

Our guides, blogs, and market updates are designed
to give you more insight to make smarter decisions.

Weekly market update

06 Jul 2020

The Pound approached the end of last week on a positive note against the US Dollar, as optimism over Brexit talks boosted sentiment. Both parties have been reported as softening their positions ahead of talks this week, increasing hopes a deal can be made. The week started with UK car sales data which showed the lowest level of purchases since 1971. UK construction data also highlighted a return to growth, with the quickest increase of activity in almost five years. The rest of the week is quiet for UK data, meaning the Pound could fluctuate on market sentiment and global events. UK Chancellor Rishi Sunak’s policy announcement on Wednesday could also create some GBP movement. Meanwhile, UK-EU trade talks are set to continue this week and could have the potential to move the GBP/EUR exchange rate. The Pound has been trading at interbank levels of 1.25 versus the US Dollar, and 1.10 against the Euro today.

Coping with Covid

29 Jun 2020

Last week, the UK Chancellor, Rishi Sunak, hinted that more stimulus could be on the way to support the British economy.

Risk sentiment sours, US Dollar rebounds

17 Jun 2020

The Pound made gains against a host of other currency majors early last week, hitting interbank levels as high as 1.28 versus the US Dollar. However, between the middle and end of the week, risk-off sentiment swept the market, causing safe-haven assets to climb, and the Pound to fall...

Riskier currencies rebound

08 Jun 2020

The Euro strengthened last week, hitting a three-month high versus the US Dollar after the European Central Bank announced it was expanding its stimulus to help the currency bloc cope with the worst recession since World War II.

The economic effect of the coronavirus

01 Jun 2020

The US Unemployment Rate is expected to jump significantly from 14.7% to 19.7%. Meanwhile, the highly influential US Non-Farm Payrolls stat, which registered a record decline of 20.5 million jobs in April’s reading, is expected to show another significant contraction.

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Global Reach Group Limited (company number 09907831), Global Reach Partners Limited (company number 04344764), Global Reach Markets Limited (company number 07026070) and Foreign Currency Exchange Limited (company number 5452483) are all part of the Global Reach corporate group. All companies are registered in England with their registered office at 3rd Floor, 20 Wood Street, London, EC2V 7AF. Global Reach Partners Limited is authorised by the Financial Conduct Authority (FCA) as an Authorised Payments Institution (FRN 504315). Global Reach Markets Limited is authorised and regulated by the FCA as an investment firm (FRN 526549). Foreign Currency Exchange Limited is authorised by the FCA as an Authorised Electronic Money Institution (FRN 900205).