At Equals Money, it’s our mission to make money movement as simple as possible and we want to help your business move forward in 2023 despite any potential disruptions, such as market volatility or adverse currency fluctuations.
One of the ways we can help your business is by looking closer at the currency pairs you care about, by analysing market data that’s historically had an impact and using it to provide insight and to forecast what could come next.
Read on to take a look at our current outlook for w/b 16/10/23.
Tuesday 17th October 2023
Wednesday 18th October 2023
Friday 20th October 2023
GBP has been downtrending since July on growth concerns for UK as well as expectations for rate hikes, which have all but disappeared. This week’s data is not expected to give any further support for the currency with wages and inflation expected to ease further. Retail sales are good measure of GDP for the economy but in light of a warmer September, it’s expected to have slowed sales of Autumn and Winter clothing. Add in the impact of risk aversion in markets and we could see a further demise of GBP.
Risk aversion was clear to see at the end of last week with equities slumping and the dollar gaining on fears of escalation over the crisis in the Middle East. Over the weekend there were diplomatic efforts by the US to ease tensions which has tempered risk aversion to start the week, but ultimately markets will monitor developments to gauge FX flow. More risk aversion and expect safe haven currencies like the yen, Swiss franc, and US dollar to benefit.
At Equals Money, our in-house currency experts are here to help you. We monitor the markets for you and let you know how any changes could affect your payments to help you navigate volatility within the currency markets.
We also offer a number of hedging solutions to help you manage the associated risks when dealing with foreign exchange and volatile markets, such as market monitoring, the Equals Money Rate Watch, forward contracts, and market orders.1 Your own dedicated account manager will be on-hand to guide you through all your options so you can make the best decision for you and your business.
You can’t control what happens in the market - but you can control how you manage volatility and risk and take care of your company. Equals Money is here to help you with your finances so you can spend less time worrying about FX rates and more time growing your business.
1Equals Money can only offer forward contacts to facilitate payments for goods and services
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