Article:

October in the Markets.

Bank of England Reports Published in October 2020

Financial Policy Summary and Record – October 2020Read the report

The Bank of England’s Financial Policy Committee (FPC) assesses the outlook for financial stability by identifying the risks faced by the financial system and weighing these against the resilience of the system.

Asset Purchase Facility Quarterly Report – 2020 Q3Read the report

In the interests of openness and transparency, the Bank of England publish a quarterly report on the transactions carried out as part of the Asset Purchase Facility. The reports are published shortly after the end of each quarter.

Credit Conditions Survey – 2020 Q3 Read the report

This quarterly survey of banks and building societies is aimed at improving the understanding of trends and developments in credit conditions.

House Prices Climb to Record High, says Nationwide

From: The BBC

House prices rose at their fastest rate for five years in October as buyers raced to beat next year’s stamp duty deadline, the Nationwide has said.

Annual house price growth accelerated to 5.8%, taking the average price to £227,826, the lender said.

Read more

Sterling Lower as Virus Worries Grow

From: Daily FX

The FX market’s demand for safe haven assets pushed the Pound Sterling lower against its US counterpart; for all intents and purposes, the US Dollar is still considered a safe haven currency.

Market sentiment has shifted as a result of Europe’s resurgence of Coronavirus infections and the new lock down and quarantine measures being put in place in an effort to thwart the spread.

Read more

Stocks Fall as Coronavirus Hits New Highs

From: Daily Forex

Global stock markets, especially the S&P 500 Index, made their strongest falls in several weeks, as markets digest the strong rise in new coronavirus cases and deaths. Markets have stabilized in recent hours.

Coronavirus daily global death tolls have begun to rise more strongly in recent days, with deaths in Latin America and the Caribbean continuing to fall, while the U.S.A. account for about 20% of the global total, and Europe approximately 22%.

Read more

FTSE 100 Logs Worst Month Since March on Virus Resurgence

From: Reuters

London’s FTSE 100 fell on Friday, logging its biggest monthly drop since a brutal sell-off in March, as a new wave of regional COVID-19 restrictions threatened a nascent economic recovery.

The indexes have come under pressure this month due to concerns over an accelerating second wave of novel coronavirus infections and Brexit-related uncertainty.

Read more

Dollar Holds Gains on U.S. Election Caution, COVID-19 Cases

From: Reuters

The U.S. dollar held steady on Monday as investors readied for this week’s U.S. presidential election, while a surge in global coronavirus cases continued to weigh on sentiment.

Investors are sticking to the safe-harbour currency as Tuesday’s presidential election keeps financial markets on edge.

Read more

FX Rates in October

GBP/EUR

Oct High: 1.1088
Oct Low: 1.0960
Oct End: 1.1063

GBP/USD

Oct High: 1.3148
Oct Low: 1.2876
Oct End: 1.2917

EUR/USD

Oct High: 1.1860
Oct Low: 1.1676
Oct End: 1.1676