Welcome to our latest weekly newsletter at Panthera FX.
At Panthera FX, our mission is to help individuals and businesses save money on currency conversion with a focus on safety and security. With over 15 years of combined experience in banking, our directors are well-versed in the complexities of international payments and foreign exchange. We know that these services can often come with high costs, but we’re here to change that.
Our approach is simple: we offer tailored solutions to meet your specific needs. Our multi-currency accounts come with no opening fees and no transaction fees, along with a low spread on our rates. This means you can save significantly compared to traditional banks.
If you’re currently paying too much for currency conversions or just want to explore better options, we invite you to get in touch. Additionally, we offer a fantastic referral scheme—if you know someone who could benefit from our services, consider signing up as an introducer.
At Panthera FX, we’re committed to providing you with a cost-effective and seamless currency conversion experience.
Discover how Panthera FX can empower your business or simplify your personal FX transactions. Get in touch today to learn more about our comprehensive FX and international payment solutions.
To find out more get in touch with Panthera FX!
Email: info@pantheraconsultancy.com
Phone: 0208 148 6446
Market Overview:
US Dollar (USD)
- Continued weakness as investors bet on a September Federal Reserve rate cut.
- Dovish Fed commentary and declining US Treasury yields are factors in the decline.
- Dollar index (DXY) at its lowest since December 2023.
- Awaiting the release of the Federal Reserve meeting minutes for further guidance.
British Pound (GBP)
- GBP/USD trades near $1.3025, close to a 13-month high.
- GBP/EUR remains stable at €1.1709.
- Supported by positive UK economic data and a weakening US dollar.
- Concerns over higher-than-expected UK public borrowing could impact future performance.
Euro (EUR)
- EUR/USD rises above $1.10, with potential to reach $1.12.
- Strengthened by the weaker US dollar and positive sentiment.
- Gains are limited by the market’s risk-on sentiment, which reduces demand for safe havens.
Canadian Dollar (CAD)
- CAD hits a four-month high, trading at 1.3590 USD.
- Boosted by expectations of Fed rate cuts and improved investor sentiment.
- Risks include the impact of potential railway stoppages and declining oil prices.
Japanese Yen (JPY)
- Yen weakens following disappointing trade balance data for July.
- Japanese economy shows Q2 resilience, but the yen is pressured by Fed rate cut expectations.
- Broader US dollar strength against other major currencies also affects the yen.
Upcoming Events and Forecasts:
- Jackson Hole Symposium – An annual gathering of central bankers, economists, and policymakers in Jackson Hole, Wyoming, where significant economic policies and trends are often discussed.
- Fed Chair Jerome Powell’s speech – on monetary policy, which could set the tone for USD movements.
- Eurozone CPI – An essential gauge of inflation in the Eurozone, impacting EUR/USD and ECB policy expectations.
- ECB Monetary Policy Meeting -The accounts will be closely analysed for insights into the European Central Bank’s future policy direction, especially regarding inflation control and interest rate adjustments.
These events will provide significant insights into the economic outlook and monetary policies of these central banks, impacting currency markets accordingly.
| United Kingdom | United States | Eurozone | Australia | Canada | China | Japan | Switzerland | |
| Currencies | GBP | USD | EUR | AUD | CAD | CNY | JPY | CHF |
| GBP £ | 1.0000 | 1.3090 | 1.1738 | 1.9410 | 1.7796 | 9.3389 | 190.15 | 1.1149 |
| EUR € | 0.8517 | 1.1148 | 1.0000 | 1.6535 | 1.5160 | 7.9556 | 161.98 | 0.9497 |
| USD $ | 0.7637 | 1.0000 | 0.8967 | 1.4828 | 1.3595 | 7.1344 | 145.25 | 0.8517 |
| AUD | 0.5149 | 0.6741 | 0.6045 | 1.0000 | 0.9164 | 4.8093 | 97.92 | 0.5741 |
*as of Aug 21 2024 21:50 BST
Final Thoughts:
As we navigate the latter half of August, the markets remain poised at critical junctures, with significant economic data releases and central bank actions on the horizon. The Jackson Hole Symposium will likely set the tone for the weeks ahead, with insights into the Fed’s future policy direction potentially triggering market volatility. Meanwhile, inflation metrics across major economies continue to be the focal point for investors, with central banks walking a fine line between sustaining growth and controlling inflation.
In these uncertain times, staying informed and agile in your investment strategy is more crucial than ever. Monitor key events closely, and consider how shifts in economic policies could impact the broader market landscape. As always, prudent risk management and a diversified portfolio remain essential as we approach the final stretch of summer.
Thank you for joining us this month. Stay tuned, stay informed, and here’s to navigating the markets with confidence!
Disclaimer: This newsletter is for informational purposes only and does not constitute financial advice. Trading in the FX market involves risks and individuals should conduct their own research before making any investment decisions.
Contact Us
For tailored FX solutions and expert guidance, contact Panthera FX today and experience the advantage of working with a trusted partner in foreign exchange.
We value your feedback! Share your thoughts on the Panthera FX Weekly Newsletter with Hamzah Pervez today. Your input helps us personalise our newsletters to deliver the news and insights you seek.
Stay informed, stay ahead with Panthera FX.
Hamzah Pervez
Managing Director – Head of FX
Landline: 0208 148 6446
Mobile: 07963 584 187
Email: Hamzah@pantheraconsultancy.com
Email: info@pantheraconsultancy.com
Phone: 0208 148 6446