A World of International Payments

Achieving more for your money

Open an account

Fiscal Signals Shake GBP Before US Data Takes Centre Stage

Friday started off with downward pressure for GBP after Rachel Reeve said that for the autumn budget the government might avoid increasing income tax. With a potential policy shift so close before the budget announcement has led to uncertainty and speculations on markets. The initial stance on higher income tax was portrait to tighten the fiscal situation in the UK while avoiding to fuel inflation levels higher. This move can lead to a support for UK government gilts to rally and would form an economic outlook ahead of December and Bank of England to more likely lower interest rates. Markets broke below 1.13 for GBP/EUR in the early hours. We have seen a quick recovery on markets since then moving back up above the 1.13 levels.

For today there is mainly US data in the afternoon session with PPI (producer price index) and retail sales being released. Now moving forward with the US government operating again we will see a lot more of US data releases that were set on hold. PPI is expected to see an uplift month-on-month from -0.1% to 0.3% which can be a starting point of increasing inflation levels as producers tend to push additional costs onto the consumer.

Retail sales month-on-month have been stagnant in the US for the last 3 months and expectations now is that we will see a drop from 0.6% to 0.4%. Retail sales tends to perform well this time of the year and if we can see a downfall, it would suggest that households are under immense pressure on disposable spending ahead of the holiday season.

GBP/EUR 1.1304 GBP/USD 1.3149 GBP/AED 4.8320
GBP/AUD 2.0162 GBP/CHF 1.0411 GBP/CAD 1.8456
GBP/NZD 2.3166 EUR/USD 1.1618 GBP/ZAR 22.4955

Our Locations

Currencies 4 You operates in a number of locations, speak to your local representative for the best solutions for you.

We help our clients achieve more by providing competitive rates on their international transfers in over 140 currencies.

Service Links

Company Links

Subscribe

Join our newsletter for regular news and updates on the state of the currency market and the best time to trade

By subscribing you agree with our Privacy Policy and provide consent to recieve updates from our company.

© Currencies 4 You Limited 2024

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and for clients based in the United Kingdom and rest of the world, payment services for Currencies4you are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).For clients based in the European Economic Area, payment services for Currencies4you are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701). For clients based in the United States, payment services for Currencies4you are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York, NY 10011. Currencies Cloud Terms of Use Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Foreign Exchange and Payment Services for customers introduced by Currencies 4 You to Sciopay Ltd are provided solely by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales with Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB) with Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution with Firm Reference Number: 927951. Currencies 4 you’s payment and foreign currency exchange services are provided by Global Currency Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN: 504346). Registered as a Money Services Business, regulated by HM Revenue & Customs (“HMRC”) under the Money Laundering Regulations 2017. (Registration number is 12137189). Registered in England and Wales. Company number 04675786. Registered Office 3rd Floor 100 New Bond Street, London, England, W1S 1SP. All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers. Results may vary and customers agree to proceed at their own risk. For clients based in the European Economic Area, the issuance of e-money and the provision of related payment services for Currencies 4 You (IB) are provided by CurrencyCloud B.V. CurrencyCoud B.V. is registered with the Dutch Chamber of Commerce in the Netherlands under number 72186178. Registered office Mr. Treublaan 7, 1097 DP, Amsterdam, Netherlands. CurrencyCloud B.V. is licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (Relation Number: R142701).