Market Reports
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1 min readWelcome to the weekly market update from IFX payments. The global economy was allowed a brief sigh of relief this morning as big movements were made in the US and China trade talks. Read on to find out more. Current rates Currency pair Rate eur usd 1.1099 gbp eur 1.1864 gbp usd 1.3170 Rates correct as […]
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IFX Market Report: Tuesday 11th October 2022
3 min readThe Bank of England intervened again this morning by announcing an expansion of its bond-buying scheme in hope of restoring order in the Kingdom’s bond and gilt market.
IFX Market Report: Thursday 6th October 2022
2 min readOn Wednesday, the OPEC+ members regrouping the world’s biggest and most powerful oil producers agreed to cut production by 2 million barrels per day to push prices back up after falling to roughly $80 from $120 in early June.
IFX Market Report: Tuesday 4th October 2022
2 min readYesterday saw the government U-turn on the scrapping of the 45p rate of income tax for higher earners after backlash from all sides, including the International Monetary Fund, on the government’s plan to raise debt to finance the largest tax cuts in decades and its inflation support plan.
IFX Market Report: Friday 30th September 2022
3 min readThe United States have entered recession as GDP figures released yesterday show.
IFX Market Report: Thursday 29th September 2022
2 min readThe Bank of England launched a £65bn bond-buying plan to calm the markets after last week’s “mini-budget” announcements.
IFX Market Report: Monday 26th September 2022
3 min readThis Sunday 25th September 2022, a coalition led by Giorgia Meloni’s Fratelli D’Italia (“Brothers of Italy” in English), is set to win the general election in Italy after Mario Draghi resignation as Prime Minister at the end of July.
IFX Market Report: Friday 23rd September 2022
3 min readYesterday, the Bank of England decided to raise interest rates by 50 basis points as it reaches now 2.25%.
IFX Market Report: Thursday 22nd September 2022
3 min readYesterday the Federal Reserve of the United States decided to increase interest rates by 75 basis points, taking the base rate from 2.50% to 3.25%.
IFX Market Report: Wednesday 21st September 2022
2 min readThis morning in a pre-recorded televised announcement, Putin declared a partial military mobilisation in Russia to formally enact a war economy to support the Ukraine invasion, as well as call reservists to help mitigate recent battle losses.