Wed, February 03, 2016
Sterling fell from a three-week high against the Dollar before the BOE releases its latest interest rate decision and economic outlook tomorrow.
With the majority of people predicting the BOE will hold its key rate at a record-low 0.5% on Thursday; the economic projections in the central bank’s Inflation Report will be of more interest to investors.
The Pound has fallen more than 2% against the dollar this year, extending its 5.4% drop in 2015, and weakened almost 3% against the Euro. Speculation the BOE will refrain from raising rates and concern the U.K. will leave the EU have weighed on the currency.
Sterling fell 0.3% to 1.4395 against the Dollar at 5:05 p.m., having declined as much as 0.7% before the EU announcement. Sterling rose 1.3% on Monday, its biggest climb this year, as an expansion in manufacturing made investors more optimistic about the BOE’s quarterly forecasts later this week. The pound fell 0.5% to 1.3193 against the Euro, after falling as much as 1% yesterday.
Data to look out for today.
09:30: GBP UK Services PMI
09:30: GBP UK Composite PMI
15:00: USD ISM Non-Manufacturing Composite
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
| Day | Time | Currency | Event |
|---|---|---|---|
| WED | 08:45 | EUR | EUR Markit/ADACI Italy Composite PMI | WED | 08:45 | EUR | EUR Markit/ADACI Italy Services PMI | WED | 08:50 | EUR | EUR Markit France Services PMI | WED | 08:50 | EUR | EUR Markit France Composite PMI | WED | 08:55 | EUR | EUR Markit Germany Services PMI | WED | 08:55 | EUR | EUR Markit/BME Germany Composite PMI | WED | 09:00 | EUR | EUR Markit Eurozone Services PMI | WED | 09:00 | EUR | EUR Markit Eurozone Composite PMI | WED | 09:30 | GBP | GBP Markit/CIPS UK Services PMI | WED | 09:30 | GBP | GBP Official Reserves (Changes) | WED | 09:30 | GBP | GBP Markit/CIPS UK Composite PMI | WED | 10:00 | EUR | EUR Euro-Zone Retail Sales (MoM) | WED | 10:00 | EUR | EUR Euro-Zone Retail Sales (YoY) | WED | 12:00 | USD | USD MBA Mortgage Applications | WED | 13:15 | USD | USD ADP Employment Change | WED | 14:45 | USD | USD Markit US Services PMI | WED | 14:45 | USD | USD Markit US Composite PMI | WED | 15:00 | USD | USD ISM Non-Manufacutring Composite | WED | 15:30 | USD | USD DOE Cushing OK Crude Inventory | WED | 15:30 | USD | USD DOE U.S. Gasoline Inventories | WED | 15:30 | USD | USD DOE U.S. Crude Oil Inventories | WED | 15:30 | USD | USD DOE U.S. Distillate Inventory |
| {currency-pair} | {exchange-rate} |
|---|
*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 |
| 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 | 4 | 5 |
Please subscribe to our FREE foreign exchange market update feed.
