March 2024 Monthly Currency Report for SME’s
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Our free monthly currency exchange report aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX business. Read more about the impact of exchange rates on international commerce.
Download our free monthly currency report and to keep up to date with key events throughout the month. The free currency reports analyse historical charts and provide the basis for discussion with stakeholders across your foreign exchange business. The monthly currency report provides a useful resource and meaningful insights for currency risk management policies.
For more helpful information for small and medium enterprises, check out our guide to trade finance for UK SMEs.
GBP – February in review
The UK fell into a recession
- Q4 GDP was -0.3%
- The Government lost two by-elections heavily
- January PMIs predicted a recovery
- Sterling has remained in a narrow range all year
GBP – March what to watch
Hunt to deliver Spring Budget
- Bailey has turned dovish
- Dhingra calls for an immediate rate cut
- A rate cut in March is a possibility
- Sterling will be driven by rate expectations
USD – February in review
Powell remains hawkish
- Powell is still “unconvinced” by the fall in inflation
- Job Growth justifies rate caution
- Trump is more trusted over the economy
- The dollar has lost its gloss, for now
USD – March what to watch
A cut in March is unlikely
- A March rate cut is still unlikely
- Economic resilience has been solidified
- Yellen doubts that the Government will shut down
- The dollar is still supported at lower levels
EUR – February in review
Economy beginning to suffer
- Lagarde’s credibility rating is falling rapidly
- Economic confidence is still mixed
- The European Commission lowered its growth forecast
- The Euro is defying gravity
EUR – March what to watch
Germany “upgrade” its economy
- The Far Right predicts gains in the Elections
- Inflation is falling but not fast enough
- Producer Prices are expected to continue to fall
- The Euro faces strong selling pressure
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