Market Report: October 2017

FX Monthly movement

  • US$/£ 1.33 from 1.30
  • US$/€ 1.17 unchanged
  • £/€ 1.13 from 1.09

The pound has fared well over the last month, due to stronger signals regarding interest rate hikes, and positive data on employment etc. But going forward it will continue to respond to progress in the Brexit negotiations and inflation rate figures.

Sterling is well above its 2017 average against the US Dollar, but interest rate hikes in the USA could bring it back closer to the average. However, will the US economy slow its growth for a while as the damage wrecked by the two hurricanes takes precedence.   The Euro seems to depend on the Central banks approach to QE in 2018. The announcement was delayed until October, so a quick end to QE will see the Euro strengthen whilst a drawn-out conclusion will potentially weaken the Euro again.

General news

October commences with the Chinese autumn holiday followed by Anuga straight after. This will to some extent dampen market movements, as people travel and meet to discuss the harvests. Generally, there is however a firmness surrounding most products, as harvests are generally coming in smaller, or predicted the same. The strong Euro has sheltered EU buyers from these adjustments, as has recent gains in Sterling, but should the currencies correct, then it will have a double impact on prices in local currency.

In this report:

  • Pumpkinseed kernels
  • Sunflower seed kernels
  • Linseed
  • Sesame seed
  • Hulled millet
  • Poppy seed

Download the full report (PDF)

1710-Unicorn Market Report-October 2017 (61 KiB, 132 downloads)

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