Individuelles FX-Risikomanagement, das Ihr Unternehmen vor Wechselkursschwankungen schützt: Zum FX Leitfaden.
-
CH - DE
- Australia - English
- België - Nederlands
- Belgique - Français
- Canada - English
- Česká Republika - Čeština
- Deutschland - Deutsch
- España - Español
- France - Français
- Ελλάδα - Ελληνικά
- Hong Kong - Traditional Chinese
- Hong Kong - English
- Italia - Italiano
- Luxembourg - English
- Nederland - Nederlands
- Polska - Polski
- Portugal - Português
- România - Română
- Schweiz - Deutsch
- Suisse - Français
- United Arab Emirates - English
- United Kingdom - English
Contact our experts
Ebury London
100 Victoria Street
London
SW1E 5JL
+44 (0) 20 3872 6670
[email protected]
Ebury.com
Sterling enters the New Year on the front foot
- zurück
- Latest
2 January 2020
2020 has begun and it promises to be another very hectic one in the currency markets.
The key this year will now be whether or not a full agreement can be reached in time for the end of the transition period, or if an extension beyond 31st December 2020 is required. The Prime Minister has until the end of June to ask for said extension, or risk crashing out of the bloc at the end of December. Should it become clear that a cliff-edge exit is back on the table at the end of the year then we may begin seeing some weakness in the pound.
In the immediate term, the next two days will see the latest manufacturing PMI (Thursday) and construction PMI (Friday).
Euro consolidates gains after strong rally
The euro had a similarly strong end to 2019, rallying by over one percent in the few days in between Christmas and the New Year.
Thin trading during the holiday season can be attributed to much of the volatility in the major cross, which has been well supported by the general improvement in optimism towards global growth and trade. The phase one deal over trade between the US and China is now all but signed, which bodes well for a full-blown agreement in the coming months.
Our expectations for an improvement in European data this year ensures that we think that the ECB will now likely hold policy steady for the foreseeable future, which should continue to support the common currency. It remains the case that the Federal Reserve has much more room to cut interest rates than the European Central Bank. Stable rates from both banks would, therefore, be supportive of a higher EUR/USD this year, in our view.
The next couple of days should, however, be relatively quiet as investors return to their desks following the long holiday break. Eurozone PMI data will probably therefore go largely under the radar.
Privacy Overview
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-advertisement | 1 year | Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. |
_ga_VKKLQGLB51 | 2 years | This cookie is installed by Google Analytics. |
_gat_gtag_UA_51187572_40 | 1 minute | This cookie is set by Google and is used to distinguish users. |
_gid | 1 day | Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. |
pardot | past | The pardot cookie is set while the visitor is logged in as a Pardot user. The cookie indicates an active session and is not used for tracking. |
Cookie | Duration | Description |
---|---|---|
_lfa | 2 years | This cookie is set by the provider Leadfeeder. This cookie is used for identifying the IP address of devices visiting the website. The cookie collects information such as IP addresses, time spent on website and page requests for the visits.This collected information is used for retargeting of multiple users routing from the same IP address. |