Tue, January 31, 2012
The Pound finished higher against both the Euro and slightly higher against the US Dollar in the foreign exchange market yesterday. The GBP/EUR exchange rate picked up from 1.1916 at the morning’s open to trade up at 1.1953 by the close of the UK business day, with the GBP/USD exchange rate also advancing from 1.5667 at the day’s open to trade up slightly at 1.5688 at the European market close. The was no significant data from the UK yesterday.
The Euro lost ground against the pound and the US Dollar again in the currency exchange market yesterday. The EUR/USD exchange rate did fall from the mornings open at 1.3146 to trade at a low of 1.3076 during the day, but picked up back to 1.3122 by the European market close. Yesterday German consumer price index figures came in line with expectations at 2.0% down from 2.1% and Euro-zone business climate indicator came in better than expected at -0.21 vs. -0.24 for the month of January. The Euro was under pressure due to reports on Greece may need additional funds to cope with economic outlook and in addition the lack of progress on debt swap talks continued to unsettle the markets.
This morning we have seen German retail sales come in worse than expected at -0.9% vs. 0.9% for the month of December and German unemployment change came in at -34k vs. -10k expected by economists and up from -25k from the previous month. Later today we will look out for the 10:00GMT Euro-zone unemployment rate for the month of December expected at 10.4%.
The US Dollar lost ground against the Pound yesterday, and closed out the day having gained slightly against the Euro. Economic data from the US was fairly positive yesterday, with personal income increasing from 0.1% to 0.5% and personal consumption expenditure increasing from 0.1% to 0.2% for the month of December.
Today from the US we will look out for the consumer confidence for the month of January expected to increase from 64.5 to 68 by economists.
This Daily Market Update is brought to you by The Market Team @ KBRFX – Exchange Rate, Currency Conversion & Foreign Currency Transfer specialists.
| Day | Time | Currency | Event |
|---|---|---|---|
| TUE | 00:01 | GBP GfK Consumer Confidence Survey (JAN) | TUE | 07:00 | EUR German Retail Sales (YoY) (DEC) | TUE | 07:00 | EUR German Retail Sales (MoM) (DEC) | TUE | 08:55 | EUR German Unemployment Change (JAN) | TUE | 08:55 | EUR German Unemployment Rate s.a. (JAN) | TUE | 09:00 | EUR Italian Unemployment Rate s.a. (DEC P) | TUE | 09:30 | GBP Mortgage Approvals (DEC) | TUE | 09:30 | GBP Net Consumer Credit (DEC) | TUE | 09:30 | GBP Net Lending Sec. on Dwellings (DEC) | TUE | 09:30 | GBP M4 Ex OFCs 3M Annualised (DEC) | TUE | 09:30 | GBP M4 Money Supply (MoM) (DEC) | TUE | 09:30 | GBP M4 Money Supply (YoY) (DEC) | TUE | 10:00 | EUR Euro-Zone Unemployment Rate (DEC) | TUE | 13:30 | USD Employment Cost Index (4Q) | TUE | 13:30 | USD Employment Cost Index (NOV) | TUE | 14:00 | USD S&P/CS 20 City s.a. (MoM) (NOV) | TUE | 14:00 | USD S&P/Case-Shiller Composite-20 (YoY) (NOV) | TUE | 14:00 | USD S&P/Case-Shiller Home Price Index (NOV) | TUE | 14:45 | USD Chicago Purchasing Manager (JAN) | TUE | 15:00 | USD Consumer Confidence (JAN) | TUE | 15:00 | USD NAPM-Milwaukee (JAN) |
| GBP/USD | 1.5764 |
|---|---|
| GBP/EUR | 1.1941 |
| EUR/USD | 1.3196 |
| GBP/JPY | 120.18 |
| GBP/CHF | 1.4396 |
| GBP/AUD | 1.4776 |
| GBP/CAD | 1.5746 |
| GBP/NZD | 1.9037 |
| GBP/SGD | 1.9729 |
| GBP/HKD | 12.2268 |
| GBP/CZK | 30.032 |
| GBP/PLN | 5.048 |
| GBP/SEK | 10.6271 |
| GBP/DKK | 8.8791 |
| GBP/NOK | 9.146 |
| GBP/THB | 48.78 |
| GBP/ZAR | 12.2660 |
*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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