Fri, February 03, 2012
The Pound finished lower against the Euro and against the US Dollar in the foreign exchange market yesterday. The GBP/EUR exchange rate picked up from 1.2053 at the morning’s open to trade down at 1.2007 by the close of the UK business day, and the GBP/USD exchange rate gaining from 1.5834 at the day’s open to trade down at 1.5812 at the European market close. Yesterday we saw the UK PMI Construction figures come in worse than expected at 51.4 vs. 52.5, which was also down from the prior month of 53.2.
Today from the UK we will see the PMI Services figures for the month of January due at 09:30GMT and is expected at 53.3 by economists.
The Euro gained against the pound and the US Dollar in the currency exchange market yesterday. The EUR/USD exchange rate gained from the mornings open at 1.3137 to trade higher at 1.3166 by the European market close. Yesterday we saw the Euro-zone Producer Price Index come in line with expectations of 4.3% lower from the previous month of 5.4%.
This morning we have seen the release of Italian, French, German and Euro-zone PMI services figures for the month of January. Italian PMI services came in lower than expected at 44.8 vs. 45.4 along with German PMI Services at 53.7 vs. 54.5, however French PMI Services came in better than expected at 52.3 vs.51.7. Later today at 10:00 GMT we will see the Euro-zone Retail Sales Y/Y for the month of December expected at -1.3%.
The US Dollar gained slightly against the Pound and but declined against the Euro slightly. Economic data from the US was fairly mixed yesterday, with Initial Jobless Claims for the week of Jan 28th came in at 367k vs. 379k compared to the prior month and Continuing Claims for Jan 21st came in at 3437k vs 3567k from the prior month.
The key macroeconomic data for today will be the release of Non-Farm Payrolls and Unemployment Rate for the Month of January due at 13:30 GMT. We will also keep an eye on the ISM Non-Manufacturing Composite which is due at 15:00 GMT and expected to increase to 53.2 from 52.6.
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 |
|---|---|---|---|
| FRI | 00:01 | GBP | Lloyds Business Barometer (JAN) | FRI | 00:15 | USD | Fed's Fisher Speaks in Austin Texas | FRI | 08:45 | EUR | Italian Purchasing Manager Index Services (JAN) | FRI | 08:50 | EUR | French Purchasing Manager Index Services (JAN F) | FRI | 08:55 | EUR | German Purchasing Manager Index Services (JAN F) | FRI | 09:00 | EUR | Euro-Zone Purchasing Manager Index Composite (JAN F) | FRI | 09:00 | EUR | Euro-Zone Purchasing Manager Index Services (JAN F) | FRI | 09:30 | GBP | Purchasing Manager Index Services (JAN) | FRI | 09:30 | GBP | Official Reserves (Changes) (JAN) | FRI | 10:00 | EUR | Euro-Zone Retail Sales (YoY) (DEC) | FRI | 10:00 | EUR | Euro-Zone Retail Sales (MoM) (DEC) | FRI | 13:30 | USD | Change in Non-farm Payrolls (JAN) | FRI | 13:30 | USD | Unemployment Rate (JAN) | FRI | 13:30 | USD | Avg Hourly Earning All Employees (MoM) (JAN) | FRI | 13:30 | USD | Avg Hourly Earning All Employees (YoY) (JAN) | FRI | 13:30 | USD | Avg Weekly Hours All Employees (JAN) | FRI | 13:30 | USD | Change in Manufacturing Payrolls (JAN) | FRI | 13:30 | USD | Change in Private Payrolls (JAN) | FRI | 13:30 | USD | Underemployment Rate (U6) (JAN) | FRI | 13:30 | USD | Change in Household Survey Employment (JAN) | FRI | 13:30 | USD | Revisions: Establishment Employment Survey Annual Revisions | FRI | 15:00 | USD | Factory Orders (DEC) | FRI | 15:00 | USD | ISM Non-Manufacturing Composite (JAN) |
| GBP/USD | 1.5850 |
|---|---|
| GBP/EUR | 1.2043 |
| EUR/USD | 1.3168 |
| GBP/JPY | 120.78 |
| GBP/CHF | 1.4505 |
| GBP/AUD | 1.4790 |
| GBP/CAD | 1.5818 |
| GBP/NZD | 1.9020 |
| GBP/SGD | 1.9745 |
| GBP/HKD | 12.292 |
| GBP/CZK | 30.141 |
| GBP/PLN | 5.0468 |
| GBP/SEK | 10.6591 |
| GBP/DKK | 8.9432 |
| GBP/NOK | 9.2154 |
| GBP/THB | 48.8775 |
| GBP/ZAR | 12.0808 |
*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 |
| 29 | 30 | 31 | 1 | 2 | 3 | 4 |
| 5 | 6 | 7 | 8 | 9 | 10 | 11 |
| 12 | 13 | 14 | 15 | 16 | 17 | 18 |
| 19 | 20 | 21 | 22 | 23 | 24 | 25 |
| 26 | 27 | 28 | 29 | 1 | 2 | 3 |
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