Market Reports
IFX Market Report: Friday 2nd August 2024
Thursday saw the bank of England drop interest rates for the first time since March 2020. Yesterdays 0.25% cut saw the BOE base rate fall from 5.25% to 5%. Rates in 2020 were 0.1% and remained there until rate hikes started in December 2021, with gradual hikes which finally saw the base rate halt in […]
Read moreIFX Market Report: Monday 28th September 2020
As we come to the close of a turbulent September, the final ‘scheduled’ phase of Brexit negotiations will begin on Tuesday.
IFX Market Report: Friday 25th September 2020
The pound had a more positive day yesterday but still remains under pressure after the announcement form the Chancellor of the Exchequer Rishi Sunak to replace the furlough scheme due to expire in October with a new job support scheme aimed at bridging the pay gap in wages on employees working reduced hours.
IFX Market Report: Thursday 24th September 2020
The dollar continued to strengthen, marking the fourth straight day of gains as investors remained concerned about weak economic data and rising Covid-19 cases throughout Europe effecting the global economy as well as US political uncertainty.
IFX Market Report: Wednesday 23rd September 2020
The US dollar was amongst the best performing currencies yesterday after the release of positive US economic data and hawkish comments from a Federal Reserve official which hinted at the possibility of US interest rates hikes.
IFX Market Report: Tuesday 22nd September 2020
The pound fell to a one-week low against a broadly stronger US dollar as serious concerns in the banking sector caused a fall in global risk appetite whilst the UK economy faced the repercussions of a potential second national lockdown to help control the recent spike in COVID-19 cases.
IFX Market Report: Monday 21st September 2020
As we enter a new week, over the weekend growing concerns over rising COVID-19 cases in the UK prove to be another hindrance to the pound’s already fragile status.
IFX Market Report: Friday 18th September 2020
After a turbulent 24 hours, the pound is on course to record a weekly gain against both the dollar and EUR.
IFX Market Report: Thursday 17th September 2020
As markets prepare for a Bank of England Interest Rate Decision today, the pound has gained some ground due to Boris Johnson giving MP’s the ability to vote on amendments to his controversial Internal Market Bill (IMB).
IFX Market Report: Wednesday 16th September 2020
Tuesday proved to be a relatively calm session for the G10 foreign exchange market, with little price action in the day, currencies traded relatively flat over the course of the session.
