Having seen the euro spike significantly overnight, the pound found itself at the very bottom of the technical range as trade started on Friday. to close the month, we only had UK GDP of significance to come, released at 9.30am.
Fortunately for the ailing pound, this came out slightly better than forecasts at 0.2 percent growth, opposed to 0.1 percent. Not much better but it spurred the pound on to make small gains against the euro and the US dollar, as well as against other major currencies. Mortgage approvals and money supply figures for the UK also post higher than expected, but gains were limited as EU and US inflation figures came out at or above expectations respectfully.
June was a muted month for sterling, as talk of interest rate hikes came and went and came again with the unexpected extra vote for a hike by the MPC. The gains were short-lived, showing if we see a spike, its normally best to take advantage rather than holding out for more, as that can be costly.
Full Report: https://www.currencyindex.co.uk/euro-spiked-significantly-overnight/
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Brokerage fee amount by transaction value 1.
Trade online and settle your trade to a CDIA or CommSec Margin Loan 2.
Trade online and settle into a bank account of your choice.
Share Trades over the Phone 3.
CommSec Share Packs online 4.
CommSec Share Packs over the phone 4.
Trades requiring settlement through a third party 6.
1 For GST rounding reasons, the final brokerage fee may vary from the stated or expected brokerage fee by a couple of cents.
4 Normal brokerage will apply when a stock acquired through CommSec Share Packs is subsequently sold.
5 Amount per share will be noted as brokerage on each confirmation issued. There will be no substitution should a stock have a trading halt placed on it.
6 Includes third party Margin Lending, and where the Commonwealth Bank exercises its rights under the loan Terms and Conditions.
Other fees may apply. Please see the CommSec Financial Services Guide.
Open a CommSec Share Trading Account.
Buy and sell shares using a CommSec Share Trading Account with our cash account - with it you can seamlessly settle trades, transact and earn interest.
Buy and sell shares using a CommSec Share Trading Account with your existing bank account.
Frequently asked questions.
Shares held with another broker.
For the transfer to be successful the name and address registered on your issuer holdings must match your CommSec account.
Your request will be completed within 72 hours.
Shares held with the share registry To transfer shares held with the share registry into your CommSec Trading Account you need to complete an Issuer Sponsored Holdings to CHESS Sponsorship Transfer Form.
Your request will be completed within approximately 48 to 72 hours of receipt.
When you have bought and sold shares on the same day and the next trading day, your payment may be partially or wholly offset. For more information refer to the New Client Guide.