Moneta Global FX

Global specialists in currency exchange & international payments.

[Moneta Global FX @Monetaglobal1]

#GBP/USD bucked the August trend of weakening and rose over 2% - the highest #August rise since 2005. GBP/EUR hit a 10-week high above €1.12 and #EUR/USD clinched a fourth monthly rise in a row whilst the US Dollar index hit a new 27-month low.

[Moneta Global FX @Monetaglobal1]

#GBP/ #USD dropped 0.1% to 1.3045 after official figures showed the U.K. economy shrank by a record 20.4% between April and June, the largest contraction reported by any major economy to date.

[Moneta Global FX @Monetaglobal1]

Every Monday make sure to read our news brief including the previous weeks' significant happenings and stay reading for the most significant events in the week ahead.

See link below.

https://t.co/jMMrJcDSAa

[Moneta Global FX @Monetaglobal1]

The euro had a similar day and kept hitting its head against 1.18. Meanwhile, the #pound continued to trade just north of 1.10 against the euro.

[Moneta Global FX @Monetaglobal1]

Both the #euro and #sterling enjoyed another good day against the dollar yesterday. Sterling tried to break upwards through the psychologically important level of 1.30.

[Moneta Global FX @Monetaglobal1]

Following the recent bout of dollar weakness, it would be no surprise if it rebounded slightly as traders look to square their positions ahead of Jerome Powell, Chairman of the Federal Reserve, speaking this evening.

[Moneta Global FX @Monetaglobal1]

Looking ahead to a particularly quiet day today with no fresh economic releases scheduled.

[Moneta Global FX @Monetaglobal1]

The pound enjoyed a good day yesterday and finished above 1.2920 against the dollar and 1.10 against the euro. The euro maintained its recent strength and finished virtually unchanged at 1.1730 against the dollar.

[Moneta Global FX @Monetaglobal1]

Weekly update:

- #GBP/ #USD to break $1.2698?

- This week’s special #euro leaders’ summit.

- Testing units overflowing, three and a quarter million affected.

- Can anything affect the bull run the beta #currencies are having?

CLICK BELOW:

https://t.co/jMMrJcDSAa

[Moneta Global FX @Monetaglobal1]

The World Health Organization reported a record 230,370 new cases in 24 hours on Sunday. Roughly a quarter of these new cases are in the #US, with the state of Florida reporting more new cases in 24 hours than hard-hit New York did in #April.

[Moneta Global FX @Monetaglobal1]

The U.S. corporate earnings season will start this week, and this is expected to offer more evidence of a recovery, admittedly from beaten-down levels.

[Moneta Global FX @Monetaglobal1]

With this in mind, the market will be looking out for any new signals on the region’s recovery fund from the meeting of #euro area finance ministers on Thursday, before the July 17-18 summit of the region’s leaders.

[Moneta Global FX @Monetaglobal1]

x#German factory orders rose 10.4% in #May with demand rebounding after the country loosened restrictions to contain the spread of the #coronavirus, adding to evidence that Europe’s economy is starting to recover.

[Moneta Global FX @Monetaglobal1]

The #dollar has risen slightly in the last hour after the US economy created 4,800K jobs during last month, surpassing expectations for a gain of 3,000K jobs and up from May’s 2,699K (revised from 2,509K).

[Moneta Global FX @Monetaglobal1]

US-China trade tensions are stirring again after the White House threatened retaliatory tariffs on #China if the country doesn’t import enough #US lobsters.

[Moneta Global FX @Monetaglobal1]

Are you in the technology sector?

Going into the coronavirus crisis in February this year, the UK technology sector was in a strong position, and from January to the end of May tech companies raised $5.3 billion compared to $4.1 billion across the rest of Europe.

[Moneta Global FX @Monetaglobal1]

If you are involved in this sector and have exposure to FX then please do get in touch with us in regards to improving your current FX Solution with very minimal changes:

[Moneta Global FX @Monetaglobal1]

Figures compiled by Tech Nation and Dealroom for the Digital Economy Council show that across the country tech ecosystems are continuing to flourish and investment is still pouring in.

[Moneta Global FX @Monetaglobal1]

With concern of a second wave of coronavirus hitting the US, the dollar index, which tracks the greenback against six major currencies #Euro, #SwissFranc, #JapaneseYen, #Canadiandollar, #Britishpound, and #SwedishKrona.) was down 0.1% at 97.493.

[Moneta Global FX @Monetaglobal1]

Significant economic events today:

#GBP – BoE Announcements - Asset Purchase Facility
- Monetary Policy Summary
- BoE Interest Rate Decision

#USD – Initial Jobless Claims