Daily Market Update 20/09/2021

Markets

GBP

Sterling is lower against most majors overnight. Boris Johnson to use UN General Assembly visit to push for global climate commitments ahead of COP26 summit. The PM gave his chances of securing $100bn in annual climate aid as “6 out of 10” as he arrived in New York to galvanise wealthier economies to step up to the plate. This follows over 100 UK businesses such as Unilever, BT and Santander asking the PM to show leadership on climate change in a “limited window”. A report issued by the Resolution Foundation on Monday, points to job satisfaction remaining steady in the United Kingdom over the last thirty years. Overall, 54% of employees said they were satisfied with their jobs in the decade up to 2019.

EUR

The euro is higher against sterling and lower against the dollar in early morning trade. Germany’s Social Democrats, the SDP and its leader Olaf Scholz are in poll position heading into the final week ahead of Germany’s election campaign. It now looks increasingly likely that Angela Merkel’s CDU will exit government to be replaced by Germany’s first centre-left government for 16 years. Washington and Brussels continue to work towards a transatlantic data deal, following the European Court of Justice’s decision to annul the so-called Privacy Shield agreement in July 2020. Washington claims a deal is close, whilst the European Commission has suggested there is a long, long way to go.

USD

The dollar is higher against most major currencies overnight. The US military said a drone strike it launched on August 29 killed 10 civilians, including up to 7 children, reversing its initial claim that it had hit an “imminent ISIS-K threat” to Kabul airport. The mistake came after ISIS-K killed 13 members of the US military at Kabul Airport. The Commander of US Central Command, apologised for a “tragic mistake”. Democrat senator, Joe Machin, has emerged as a key swing vote on climate legislation, as well as President Biden’s $3.5 trillion budget bill. Joe Manchin chairs the Senate energy panel and earned over $500,000 from coal production last year.

Ballinger & Co. Morning Report–20th September 2021

Today’s Rates

GBP>EUR – 1.1686

GBP>USD – 1.3677

EUR>USD – 1.1702

GBP>CAD – 1.7538

GBP>AUD – 1.8913

GBP>SEK – 11.953

GBP>AED – 5.0234

GBP>HKD – 10.648

GBP>ZAR – 20.235

GBP>CHF – 1.2759

  Today’s Calendar           

·       NZD      Westpac Consumer Survey(Q3)



Today’s Highlights

·       Forex Today: Dollar rises, everything else falls as the Evergrande crisis weighs on sentiment

·       EUR/USD Forecast: Evergrande sends pair to oversold territory, critical support eyed

·       GBP/USD tumbles under 1.37, succumbing to dollar strength

·       Canadian Federal Elections: Not a very crucial vote

  (https://frank-exchange.com/)

This document has been prepared solely for information and is not intended as an Inducement concerning the purchase or sale of any financial instrument. By its nature market analysis represents the personal view of the author and no warranty can be, or is, offered as to the accuracy of any such analysis, or that predictions provided in any such analysis will prove to be correct. Should you rely on any analysis, information or report provided as part of the Service it does so entirely at its own risk, and Frank eXchange Limited/Manor House Foreign eXchange Limited accepts no responsibility or liability for any loss or damage you may suffer as a result. Information and opinions have been obtained from sources believed to be reliable, but no representation is made as to their accuracy. No copy of this document can be taken without prior written permission.

Tags:

Looking for a money transfer service? Request for a call today!

Leave a Reply

Your email address will not be published. Required fields are marked *