FX Monthly movement
- US$/1.23 down from 1.24
- US$/€1.06 unchanged
- £/€1.17 unchanged
2017 starts with much focus on developments in the USA, firstly the Fed reserve’s minutes indicate they are prepared to raise interest rates, three times in 2017, and faster than market players anticipated, this undoubtedly supports the dollar. The other will be the emerging fiscal policy of President elect Trump!
For the Euro it seems monetary easing is likely to continue into 2017. With potential financial shocks awaiting from the Italian banking sector, and a number of leadership elections within the major economic zones in the EU are bound to impact on Euro performance this year, adding to downward pressures.
Sterling therefore looks likely to perform better against the Euro than the US dollar in 2017, but the low level will fuel inflation in 2017, whilst hopefully driving productivity. The pending article 50 negotiations will add volatility to Sterling performance throughout the year however, once the supreme court has ruled later this month as to who decides Brexit negotiations!
We anticipated a general hardening of seed prices from now on, and certainly some items have started to increase already! This report is somewhat shorter than others as we gather full info.
IFE 2017 – Unicorn will be there! Please come and visit us on stand N1420
In this report:
- Pumpkinseed kernels
- Sunflower seed kernels
- Sesame seed
- Hulled millet
- Poppy seed
Download the full report (PDF)
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