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US Building Permits Followed By FOMC Member Williams Speaks


Good morning,

GBP/EUR made some positive gains in the morning session moving from the low of the day to the high, the pair shifted from 1.1680 to 1.1734 in the space of a couple of hours. There was no major data releases yesterday for both the UK and Europe and tonight sees the first round of debates for Johnson and Corbyn in the lead up to the snap election which will have some effect on GBP and the rates. We open this morning trading session at 1.1700.

GBP/USD sat in a 30 pips range yesterday and once again it was simply due to lack of data releases, cable traded between 1.2950-1.2980 with literally no major movements report. We have a couple of medium impact data releases from the U.S today and FOMC Member Williams Speaks is due to speak in Washington D.C. GBP/USD opens Tuesdays session at 1.295.

A dull all around for Monday, EUR/USD once again sat flat in a 10 pip range from 1.1080-1.1090, as seen by the rates there was nothing to report on the pair, we open at 1.1070 this morning with hope that today's trading session will be more entertaining than the quiet one we had yesterday.

Fact of the day

Today China is experiencing piano frenzy with an estimated 40m children now learning to play. The instrument is increasingly in vogue among China’s burgeoning middle classes, who have the money to splurge on steep lessons and expensive fixtures. For many, owning a Steinway is a status symbol.

Image result for Today China is experiencing piano frenzy with an estimated 40m children now learning to play. The instrument is increasingly in vogue among China’s burgeoning middle classes, who have the money to splurge on steep lessons and expensive fixtures. For many, owning a Steinway is a status symbol.

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TIC Long-Term Purchases


Good morning,

GBP/EUR finished last weeks trading pushing to break 1.1700, the pair opened Fridays session at 1.1660 and rallied up to 1.1690 around 2:30pm. The price took a dip around 3pm as GBP/EUR moved back to the low of the day which is were it closed out, we have opened this morning at 1.1720 which is the highest rates we have seen since May 6th 2019. There is a light day of economic data today and market movements may come from Election talks and Brexit.

GBP/USD had a quiet end to the week as Fridays trading session saw a 40 pip range, the pair was trading between 1.2875-1.2915. The U.S released mixed data results on Friday afternoon as Core Retail Sales m/m came in worse than expected at 0.2% whilst Retail Sales m/m came in better than expected at 0.3%. A light day of economic data today as no high impact figures are released, we open at 1.2959 this morning.

Fridays trading session was a very dull one for EUR/USD, the pair traded between 1.1050-1.1060 with literally no movements at all for the price. We have opened this morning at 1.1060 and hopefully we will see a more entertaining day from the pair however it looks very slim as it is a light day of data for both Europe and the U.S.

Fact of the day

The first patent for an electronic cigarette was already filed in 1963, but inventor Herbert Gilber never found a company willing to mass-produce his invention. His device works the same way as modern e-cigarettes, “containing a liquid that was warmed by a battery-powered device, creating a vapor that a person inhaled”.

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President Trump Speaks


Good morning,

GBP/EUR opened the week at the low end of 1.1600, the morning session was fairly quiet as the UK released negative figures on their Prelim GDP q/q, we were expecting a result of 0.4% and the actual figure was 0.3%. The pair did start making headway from 11am onward as GBP/EUR shifted from 1.1610 to 1.1684 which was on the highest rates we have seen since the beginning of the year. The rate dipped slightly to 1.1650 which is were the price traded for the remainder of the day and is were we have opened this morning.

GBP/USD moved from the low of the day which was 1.2801 to the high of the day of 1.2900 from 10am-12pm, the pairs 0.8% move up was simply due to a Sterling move as the U.S had a bank holiday yesterday therefore no economic data releases were scheduled. Election talks caused GBP to rally in the morning session hence the upward movement. We open this morning at 1.2828 with normal practice resumed, Donald Trump will be speaking around 5pm UK time tonight which is noted as a high impact piece of data.

EUR/USD was stuck in a tight range yesterday, a very light day of data for both due to bank holidays and pair did not move out of a 20 pips range trading between 1.1026-1.1046, we hope for a more busy day today and we open Tuesdays trading at 1.1025.

Fact of the day

Brad Pitt tried to buy himself out of a movie, ‘Interview with the Vampire’. Upon hearing about the 40M$ exit clause he was forced to shoot the movie. It went on to launch Kirsten Dunst’s career and received 2 Oscar nominations.

Image result for Brad Pitt tried to buy himself out of a movie, ‘Interview with the Vampire’. Upon hearing about the 40M$ exit clause he was forced to shoot the movie. It went on to launch Kirsten Dunst’s career and received 2 Oscar nominations.

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Prelim GDP q/q


Good morning,

GBP/EUR rallying on Friday afternoon as the pair pushed from 1.1580 to 1.1630 which was the high of the day. GBP/EUR could not keep its momentum and the pair took a dip between 4pm-5pm as levels dropped to 1.1571 which was the low of the day, the rate closed out around 1.1590 and we reopen this morning at 1.1611 with UK Prelim GDP q/q due out at 09:30am.

GBP/USD was stuck in a 40 pip range on Friday, the economic calendar was light hence the reason the pair had a steady day. Cable traded between 1.2770-1.2810, it was a quiet morning session and the only main move of the day was in the afternoon when GBP/USD depreciated around 3pm, by 6pm the par was sat at the low of the day which is were it closed Friday night. We Reopen this morning at 1.2810 with no major data releases for the U.S due to veterans day

EUR/USD was in a similar position as cable, the pairs trading range was 1.1020-1.1047 in what was a quiet day all round. The pair opened Friday trading session at the high and around 11am the pairs decline began, it was roughly 5pm when EUR/USD hit the low of the day which is were it closed for the week, this morning we have opened at 1.1025.Welcome to your Currency Report By FXPress Payment Services Ltd
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Monday 11th October 2019





Morning Report - Monday 11th October 2019







Good morning,

GBP/EUR rallying on Friday afternoon as the pair pushed from 1.1580 to 1.1630 which was the high of the day. GBP/EUR could not keep its momentum and the pair took a dip between 4pm-5pm as levels dropped to 1.1571 which was the low of the day, the rate closed out around 1.1590 and we reopen this morning at 1.1611 with UK Prelim GDP q/q due out at 09:30am.

GBP/USD was stuck in a 40 pip range on Friday, the economic calendar was light hence the reason the pair had a steady day. Cable traded between 1.2770-1.2810, it was a quiet morning session and the only main move of the day was in the afternoon when GBP/USD depreciated around 3pm, by 6pm the par was sat at the low of the day which is were it closed Friday night. We Reopen this morning at 1.2810 with no major data releases for the U.S due to veterans day

EUR/USD was in a similar position as cable, the pairs trading range was 1.1020-1.1047 in what was a quiet day all round. The pair opened Friday trading session at the high and around 11am the pairs decline began, it was roughly 5pm when EUR/USD hit the low of the day which is were it closed for the week, this morning we have opened at 1.1025.




Friday Inter-bank Highs and Lows






GBPEUR: 1.1581 / 1.1631 GBPUSD 1.2773 / 1.2811 EUR/USD 1.1021 / 1.1072





Monday's Economic Data

All Day: EUR: French Bank Holiday

09:30am - UK: Prelim GDP q/q
09:30am - UK Manufacturing Production m/m

All Day: USD: Bank Holiday




In Other News:





Hong Kong police shoot man in day of violence and chaos


A policeman has shot a protester during another day of violent demonstrations in Hong Kong.

Footage posted on Facebook showed the officer drawing his gun before grappling with a man at a roadblock.

When another man approached wearing a face mask, the officer fired at him, hitting him in the torso.

In another incident, a pro-Beijing supporter was doused in flammable liquid and set on fire after arguing with protesters.

He is in a critical condition.

There have been a number of other flashpoints during the day, with police firing rubber bullets and tear gas in others parts of Hong Kong.

At one point, tear gas was fired in the central business district - a rare occurrence during working hours on a weekday.

BBC News






British Steel to be rescued by Chinese firm in £70m deal


British Steel is set to announce a rescue deal with China's Jingye Group, which could safeguard up to 4,000 jobs in the UK.

Jingye Group has agreed in principle to buy British Steel for £70m.

It is understood that the government will help in the form of loan guarantees and other financial support.

British Steel has been kept running by the government via the Official Receiver since May, when the company went into liquidation.

As well as employing 4,000 people at its Scunthorpe and Teesside sites, British Steel supports an additional 20,000 jobs in the supply chain.

Another 1,000 jobs are based in France and the Netherlands - those are included in the deal too.

It is expected that an agreement will be signed, but that the company will continue to be run by the Official Receiver for at least a month before being transferred.

BBC NEWS






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U.S CB Consumer Confidence


Good morning,

GBP/EUR opened the week at 1.1592 and the pair took a slight dip in the morning session by falling to the low of the day which was 1.1557, we expect volatility in the markets in the upcoming weeks however yesterdays movements was rather calm. GBP/EUR pushed to the high of the day around 3pm which was 1.1608 however the pair was unable to keep afloat of 1.1600 and dipped to 1.1580 which is were it traded for the remainder of Monday. We open Tuesday trading at 1.19600 with a light day of data for both the UK & the EU.

GBP/USD sat between 1.2830-1.2870 in what was a very dull day for the pair, the U.S released no high impact pieces of data hence the reason there was no movements at all. UK Parliament decided to reject the vote for a snap election at 8pm which again no knock on effect with the rates of exchange, Cable opens this mornings session at 1.2842.

EUR/USD basically mirrored GBP/USD as the pairs trading range was tight, the levels sat between 1.1085-1.1100. EUR/USD opens this morning at 1.1080 and we hope that the pair has more of a volatile day today, we will be looking forward to the 3pm release from the U.S which is CB Consumer Confidence which is a high impact piece of data.

Fact of the day

More than 100 years ago, a French sports journalist suggested the idea of organizing a 6-day cycling race to the editor of a local newspaper to boost sales – because he couldn’t think of any other idea. That race was called Tour de France – it’s now the most prestigious bicycle race in the world.

Image result for tour de france

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