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Foreign Exchange Daily Market Update 15/01/19

Tue, January 15, 2019

Sterling could drop off if May loses by more than 100 votes.

Sterling could hold its ground if Theresa May’s Brexit deal is defeated in Parliament by 100 votes or less, as the market would then eye the odds of the prime minister seeking a second vote.

May’s unpopular pact with the EU will be put to the House of Commons tonight, where she will need most lawmakers to vote favourably for the agreement to be approved. A loss by more than 100 votes could raise risks including a leadership challenge by the opposition, that would send sterling plummeting.

  • If May is defeated by more than 220 votes, sterling could fall to $1.225
  • A loss by a margin of 20 to 100 votes, sterling could rally to $1.3350; a loss of just 20 votes could see sterling rally with potential to reach $1.35
  • Call for a second referendum or a leadership challenge by the labour party.

Sterling traded at 1.283 this morning against the dollar, The Pound traded at 1.122 against the Euro.

 

Data to look out today.   

GBP Brexit Vote in UK Parliament (Due Around 19:00-21:00)

15:00 EUR ECB’s Draghi Presents 2017 Annual Report in Strasbourg.

 

CURRENCY PAYMENTS MADE SIMPLE

 

PRESS RELEASE

KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html

Data Releases

Day Time Currency Event
TUE 09:00 EUR EUR German Gross Domestic Product NSA (YoY)
TUE 10:00 EUR EUR Euro-Zone Trade Balance s.a.
TUE 10:00 EUR EUR Euro-Zone Trade Balance (euros)
TUE 13:30 USD USD Empire Manufacturing
TUE 13:30 USD USD Producer Price Index Final Demand (MoM)
TUE 13:30 USD USD Producer Price Index Final Demand (YoY)
TUE 13:30 USD USD Producer Price Index Ex Food and Energy (MoM)
TUE 13:30 USD USD Producer Price Index Ex Food and Energy (YoY)
TUE 13:30 USD USD Producer Price Index Ex Food Energy Trade (MoM)
TUE 13:30 USD USD Producer Price Index Ex Food Energy Trade (YoY)
TUE 15:00 EUR EUR ECB's Draghi Presents 2017 Annual Report in Strasbourg
TUE 16:30 USD USD Fed’s Kashkari Speaks on Regional Economy in Minnesota
TUE 18:00 USD USD Fed’s George Speaks on Economy and Monetary Policy Outlook
TUE 18:00 USD USD Fed’s Kaplan Speaks in Plano Texas
TUE USD USD Advance Goods Trade Balance
TUE USD USD Wholesale Inventories (MoM)
TUE USD USD Retail Inventories (MoM)
TUE USD USD New Home Sales
TUE USD USD New Home Sales (MoM)
TUE USD USD Construction Spending (MoM)
TUE USD USD Factory Orders
TUE USD USD Factory Orders Ex Trans
TUE USD USD Durable Goods Orders
TUE USD USD Durables Ex Transportation
TUE USD USD Cap Goods Orders Nondef Ex Air
TUE USD USD Cap Goods Ship Nondef Ex Air
TUE USD USD Monthly Budget Statement
TUE USD USD Trade Balance
TUE USD USD Wholesale Inventories (MoM)
TUE USD USD Wholesale Trade Sales (MoM)

Foreign Exchange Rates

GBP / USD 1.28389
GBP / EUR 1.12288
EUR / USD 1.14290
GBP / AUD 1.79150
GBP / CAD 1.70922
GBP / CHF 1.25763
GBP / CZK 28.7779
GBP / DKK 8.33026
GBP / HKD 10.10433
GBP / INR 91.1506
GBP / JPY 139.361
GBP / MUR 43.45
GBP / NOK 10.97109
GBP / NZD 1.89536
GBP / PLN 4.83389
GBP / SEK 11.44266
GBP / SGD 1.74492
GBP / THB 41.0692
GBP / TRY 7.607312
GBP / ZAR 18.18938

*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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