FX Update:
This will be our last commentary for 2022. We will be back with our first commentary for the 2023 year in the second week of January.
We appreciate all your comments and support over what has been an incredible year!
We are only closed for the statutory holidays and will be open for dealing on the days in between Christmas and New Year.
We would like to wish all our clients a Merry Christmas and safe start to what we all hope will be a prosperous New Year.
The Direct FX Crew; Nev, Glenn, Sean, and team
Key Points:
Bank of England hike cash rate from 3.0% to 3.5%
US recession fears rise to 70% in 2023
US Home Sales 4.09M vs 4.20M expected, the worst levels since 2011
Russia says there is no chance of pending peace talks after Zelensky visits Washington, the Kremlin said the supply of arms by Western Allies to Ukraine forces will only lead to “deepening” of the war.
European Union hike interest rate to 2.5% from 2.0% slowing the pace of their hikes but stressing that inflation is far from over
European Business activity in December eases showing a shallower downturn with price pressures cooling
The Bank of Japan (BoJ) may look to ditch its negative interest rate policy, the move could strengthen the Yen (JPY)
The US Dollar (USD) has been the strongest currency over 2022 with the Japanese Yen (JPY) the worst performer.