Latest market insights:
With the Autumn statement days away, key market shifts could affect what you pay or save on your upcoming transfer.
- With just two days to go before the Autumn statement, attention is firmly on Rachel Reeves and what measures she may introduce. Markets are pricing in a degree of uncertainty, and that’s keeping the pound under pressure against both the euro and the US dollar.
- The latest UK retail sales data published by the Office for National Statistics (ONS) on Friday added to concerns as they showed unexpected slumps in consumer spending, with shoppers citing uncertainty over the upcoming budget as a key cause for dampened confidence.
- Businesses across the UK remain cautious as they wait to see how the Budget will affect costs, investment plans, and overall confidence. This nervousness is one of the key drivers weighing on sterling ahead of the announcement.
- If you’re planning to purchase property overseas in the coming weeks, now is a good moment to review your currency strategy. A forward contract can help you secure a rate today for a future transfer, offering protection against potential volatility around the Budget.
If you’re planning to send money abroad and want to understand more about how news from around the world could impact your budget, contact Lumon on +44 (0)204 506 5672 for a free, no-obligation conversation and discover what options you have available to help.
