Current Exchange Rates
|
Currency |
Current Rate |
|
|
|
||
|
GBPUSD |
1.5597 |
|
|
|
||
|
GBPEUR |
1.1367 |
|
|
|
||
|
EURUSD |
1.3716 |
|
|
|
||
|
GBPJPY |
139.70 |
|
|
|
||
|
GBPCHF |
1.6685 |
|
|
|
||
|
GBPAUD |
1.7896 |
|
|
|
||
|
GBPCAD |
1.6673 |
|
|
|
||
|
GBPNZD |
2.262 |
|
|
|
||
|
GBPSGD |
2.2139 |
|
|
|
||
|
GBPHKD |
12.116 |
|
|
|
||
|
GBPCZK |
29.694 |
|
|
|
||
|
GBPPLN |
4.6375 |
|
|
|
||
|
GBPSEK |
11.4991 |
|
|
|
||
|
GBPDKK |
8.4631 |
|
|
|
||
|
GBPNOK |
9.258 |
|
|
|
||
|
GBPTHB |
51.729 |
|
|
|
||
|
GBPZAR |
12.012 |
|
|
|
*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please call our dealing team on +44 (0)1375 489 480
Market Overview
The early hours of this morning have seen UK House price balance data, released by Royal Institute of Chartered Surveyors (RICS), for the month of January. The survey gauges prices in the UK housing market. A rise in houses prices is generally good for the UK economy. So the balance increase of 32% in January from the 30% increase seen in December will be beneficial to Sterling. Economists had expected to see a slower pace of growth at 27%.
Germany has seen a number of reports released this morning. Germany’s trade balance for December showed a smaller trade surplus of €13.5B compared to November having seen a balance of €17.2B. It had been expected that the Balance would read at €15.0B. The current account went up to €20.6B compared to the expected €19.1B. November saw a downwardly revised €17.8B. Imports increased by 4.5% after November’s fall of 6.2%. The consensus had been for an increase in imports by 3.0%. Exports increased by 3.0% after exports rose in November by 1.1%. The consensus had been for a drop in exports by 0.1%. Overall the data for Germany’s trade balance was better than expected which has aided in the Euro appreciating in value.
Much weightier German CPI data revealed that inflation had maintained the pace of decline 0.6% in the month of January. Economists were not disappointed with their expectations having predicted CPI to fall by 0.6%. The Year-on-year data showed that CPI had grown by 0.8%, the same as the previous month. Again economists had been accurate in their predictions of CPI growth maintaining a pace of 0.8% growth. The harmonized Index grew 0.8% annually in January, slightly up from 0.7% that was estimated initially. The month-on-month data showed that the harmonized index of consumer prices (HICP) was down by 0.6% in January, over the 0.7% fall in December.
The UK’s calendar will consist of only trade balance data. The Visible trade balance is expected see a narrower deficit of £6,700billion in December compared to November’s deficit of £6,784billion. Non-EU trade is expected to see a larger deficit of £3,100billion compared to November’s deficit of £3,032billion. Finally the total trade balance deficit is expected to fall from £2,912billion to £2,800billion in December. Narrower deficits will be beneficial to the UK economy so show we see these deficits shrinking then Sterling will gain strength.
The afternoon will see December's Wholesales Inventories from the US, which is expected to increase by 0.5% compared to increase of 1.5% seen in November. Continual increases in wholesaler inventories are bad for the US economy as it shows that fewer goods are being sold to retailers and this in turn show lower consumer demand.
Much later into the afternoon the ABC consumer confidence survey will shed light on whether consumers have been spending more in the week of the 7th February. in the previous week confidence was down to a score of -49.
This evening Australia will announce the results of the consumer confidence survey by Westpac for the month of February. The previous month showed a 5.6% improvement in consumer confidence. A similar or improved increase with see some weight added to the Australian dollars' value. No expectations have been given for the index.
Data Releases
|
DAY |
TIME |
CURRENCY |
EVENT |
|
|
|
||||
|
TUE |
09:30 |
GBP |
Visible Trade Balance (Pounds) (DEC) |
|
|
TUE |
09:30 |
GBP |
Trade Balance Non EU (Pounds) (DEC) |
|
|
TUE |
09:30 |
GBP |
Total Trade Balance (Pounds) (DEC) |
|
|
TUE |
12:30 |
USD |
NFIB Small Business Optimism (JAN) |
|
|
TUE |
15:00 |
USD |
Wholesale Inventories (DEC) |
|
|
TUE |
15:00 |
USD |
IBD/TIPP Economic Optimism (FEB) |
|
|
TUE |
21:30 |
USD |
API U.S. Crude Oil Inventories (FEB 5) |
|
|
TUE |
21:30 |
USD |
API U.S. Gasoline Inventories (FEB 5) |
|
|
TUE |
21:30 |
USD |
API U.S. Distillate Inventory (FEB 5) |
|
Should you have any questions, please do not hesitate to contact us directly via:
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Personal: 0800 8778 477
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E-mail: info@kbrfx.com
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KBR Foreign Exchange PLC
Riverside Business Centre
Fort Road
Tilbury
RM18 7ND