Wed, February 01, 2012
The Pound finished higher against the Euro and slightly lower against the US Dollar in the foreign exchange market yesterday. The GBP/EUR exchange rate picked up from 1.1948 at the morning’s open to trade up at 1.2067 by the close of the UK business day, with the GBP/USD exchange rate decling from 1.5764 at the day’s open to trade down slightly at 1.5752 at the European market close. Yesterday we saw the UK mortgage approvals fall short against the expectations coming in at 52.9k vs. 54.0k, although is slightly up from the prior month of 52.2K
Today from the UK we will keep an eye PMI Manufacturing for the month of January expected at 50.
The Euro lost ground against the pound and the US Dollar again in the currency exchange market yesterday. The EUR/USD exchange rate fell from the mornings open at 1.3207 to trade lower at 1.3052 by the European market close. Yesterday 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. Finally Euro-zone unemployment figures also came inline with expectations at 10.4% predicted by economists.
This morning we have seen the Italian, French, German and Euro-zone PMI manufacturing figures all come in slightly better than expectations. Italian PMI manufacturing for the month of January came in at 46.8 vs. 45.3 and up from the prior month of 44.3. Later today we will look out for the 10:00GMT Euro-zone Consumer Price Index expected decline from 2.8% to 2.7% .
The US Dollar gained slightly ground against the Pound yesterday, and closed out the day having gained against the Euro. Economic data from the US was fairly negative yesterday, with Chicago Purchasing Manager for the month of January came in at 60.2 vs. 62.2 from the prior month. Also Consumer Confidence for the month of January also declined from 64.8 to 61.1 from the prior month, economists had predicted a rise to 68.
Today from the US we will look out for the 13:30gmt ADP Employment Change expected at 185K down from 325K from the prior month and ISM Manufacturing due at 15:00gmt expected to come in at 54.5 by economist, up from the prior month of 53.9.
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 |
|---|---|---|---|
| WED | 07:00 | GBP Nationwide House Prices n.s.a. (YoY) (JAN) | WED | 07:00 | GBP Nationwide House Prices s.a. (MoM) (JAN) | WED | 08:45 | EUR Italian Purchasing Manager Index Manufacturing (JAN) | WED | 08:50 | EUR French Purchasing Manager Index Manufacturing (JAN F) | WED | 08:55 | EUR German Purchasing Manager Index Manufacturing (JAN F) | WED | 09:00 | EUR Euro-Zone Purchasing Manager Index Manufacturing (JAN F) | WED | 09:30 | GBP Purchasing Manager Index Manufacturing (JAN) | WED | 10:00 | EUR Euro-Zone Consumer Price Index Estimate (YoY) (JAN) | WED | 12:00 | USD MBA Mortgage Applications (JAN 27) | WED | 13:15 | USD ADP Employment Change (JAN) | WED | 13:30 | USD Fed's Plosser Speaks on Economy in Gladwyne | Pa. Low | WED | 15:00 | USD ISM Manufacturing (JAN) | WED | 15:00 | USD Construction Spending (MoM) (DEC) | WED | 15:00 | USD ISM Prices Paid (JAN) | WED | 15:30 | USD DOE Cushing OK Crude Inventory (JAN 27) | WED | 15:30 | USD DOE U.S. Crude Oil Inventories (JAN 27) | WED | 15:30 | USD DOE U.S. Distillate Inventory (JAN 27) | WED | 15:30 | USD DOE U.S. Gasoline Inventories (JAN 27) | WED | 22:00 | USD Domestic Vehicle Sales (JAN) | WED | 22:00 | USD Total Vehicle Sales (JAN) |
| GBP/USD | 1.5779 |
|---|---|
| GBP/EUR | 1.2033 |
| EUR/USD | 1.31135 |
| GBP/JPY | 120.03 |
| GBP/CHF | 1.4495 |
| GBP/AUD | 1.4784 |
| GBP/CAD | 1.5775 |
| GBP/NZD | 1.9029 |
| GBP/SGD | 1.9775 |
| GBP/HKD | 12.2403 |
| GBP/CZK | 30.355 |
| GBP/PLN | 5.0486 |
| GBP/SEK | 10.6648 |
| GBP/DKK | 8.9425 |
| GBP/NOK | 9.1877 |
| 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
| S | M | T | W | T | F | S |
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| 26 | 27 | 28 | 29 | 1 | 2 | 3 |
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