Society Financial

May your holiday season be merry and bright! Cheers from the team at Society Financial 🎄

We had a fantastic time at the Asia Cup Polo - Sponsoring the Saturday event, raising funds for charity and enjoying some great polo action. 🐎

🏇💰 Prepare for a game-changing partnership as we team up with Society Financial for the Asia Cup Polo 2023! We're thrilled to introduce Society Financial's global cash management solutions to the world of polo. SocFin offers superior alternative private and business banking solutions that include currency business bank accounts, cross-border payments, FX hedging and risk management services spanning across 130 currencies. ✨💼

Society Financial is a family run business dedicated to forging lasting relationships with their customers based on trust and exceptional flexibility. Their core values of delivering fair, inclusive and responsible international banking solutions, combined with best-in class infrastructure and capabilities allows them to facilitate tailor made solutions to what are often complex currency risk management challenges.

With a leadership team boasting over 50 years of combined experience, SocFin brings a wealth of knowledge and expertise to our partnership. Their commitment to innovation aligns perfectly with our goal of delivering excellence in every aspect of the Asia Cup Polo.

Wishing you and your families a happy and healthy 2023 from SocFin





#2023

It’s a pleasure to attend FT’s Future of Retail Event today. A good opportunity to catch up with some of our clients and discuss how we can support them in this demanding period ahead. Conditions will be particularly challenging given the sustained USD strength, as much of the sector and the supply chain is heavily exposed to the US Dollar.

Deepest sympathy for the passing of Her Majesty Queen Elizabeth II. Our sincerest condolences go out to the Royal Family, the people in the UK and around the world, where she was revered and admired as a gracious and devoted leader.

Wishing everyone a Happy and Healthy 2021

Wishing everyone that celebrates Diwali, happy and wonderful festivities with their families and loved ones.

Biden is congratulated by world leaders as Trump remains firm on challenging the legality of the results.

On the surface, a Biden win seems to be bullish for stocks and bearish for the US Dollar as we see equities rising across the board, while the USD is falling. While Biden’s policies are perceived as negative for stocks, markets may be factoring in that a Republican controlled Senate will derail his tax hikes and expected re-regulation. However, this is highly unlikely as there should be enough republican support in the Senate willing to side with the new administration.

In reality, both Trump and Biden are relatively insignificant as the The FED remains the only game in town; - With the attention soon turning to Powell’s replacement and how much more dovish he or she is likely to be. Click the link for our view on each currency...

Markets celebrate but not all is as it seems... Biden is congratulated by world leaders as Trump remains firm on challenging the legality of the results. On the surface, a Biden win seems to be bullish for stocks and bearish for the US Dollar as we see equities rising across the board, while the USD is falling. While Biden’s policies are percei...

https://www.socfin.co.uk/post/usd-reasserting-itself-is-in-question

On Thursday the BoE kept rates unchanged at 0.1%, while increasing bond purchases to £745b, up from £645b. This was in-line with market expectations. There was limited volatility following the meeting, with the downside modestly favoured. The recent path is lower despite some strength earlier in the week, and while in the near-term this appears set to continue, the broader outlook is still very much influenced by a mixed bag of driving factors that keep things uncertain. There is Brexit negotiations, the upstart of the economy following the Corona Lockdown, and the dollar’s status to think about. Risk trends have been helping keep cable buoyed. If global stocks begin to decline in earnest on any number of factors, then look for weakness to become a predominant trend. GBP/EUR continues to be a mystery as it floats in what is becoming a 4-yr trading range. There is nothing of major consequence on the data calendar this week.
For the full report click below...

USD Reasserting Itself Is in Question GBP On Thursday the BoE kept rates unchanged at 0.1%, while increasing bond purchases to £745b, up from £645b. This was in-line with market expectations. There was limited volatility following the meeting, with the downside modestly favoured. The recent path is lower despite some strength earlier ...

https://www.socfin.co.uk/post/can-the-euro-hold-a-rally-usd-on-its-backfoot

Can the Euro Hold a Rally? USD On Its Backfoot EUR – Can the rally hold? Last week the ECB announced €600 billion in new stimulus to help combat the downturn from the coronavirus. The bond-buying bonanza seems to have no end in sight. Germany is also helping in the effort when it announced on Wednesday, a day before the ECB, a €130 billion...

https://www.socfin.co.uk/post/eur-usd-line-in-the-sand-boj-ecb-fed-this-week

EUR/USD “Line-in-the-sand”; BoJ, ECB & Fed This Week Pound Last week the pound was off by a small amount versus the dollar but is still holding up relatively well with the help of financial markets calming down, outside of oil. But will it last? At some point in the relatively near future probability appears skewed towards markets testing measures rec...

Weekly Currency Report: 20th of April 2020

GBP - In total, the UK economy is anticipated to contract by 15-25% in Q2. While the price action has settled down, GBP has the potential to be one of the more volatile and strongest trending currencies with the EU/UK negotiations further complicating an already uncertain backdrop.

EUR - Weak manufacturing data highlighting the damage to the Euro zone manufacturing is expected this week and EUR could break lower vs GBP and USD.

USD - The general bias still remains tilted towards a bullish path of least resistance for the USD, but we want to see a bit more before making a stronger commitment to this outlook.

Full report in the link...

Another Week, Another Round of Bad Data Sterling Eyes will to be on economic data, but don’t expect the releases to be very market-moving as expectations of awful prints is mostly priced in. This week's jobs figures are on Tuesday followed by inflation data on Wednesday. Manufacturing and services data published by Markit/CIPS will be o...