Foreign Exchange Daily Market Update 10/03/2016

Thu, March 10, 2016

Pound Rises As Manufacturing Grows

The Pound rose against the Euro after manufacturing production in the U.K. grew a lot more than expected in January and a rally in commodities and stocks boosted investor sentiment.

Manufacturing production grew 0.7% against the 0.2% forecast. However industrial production expanded by 0.3%, lower than forecast 0.4% but beating the 1.1% contraction in December.

The pound rose 0.4% to 1.2955 against the Euro as of 2:54 p.m. Sterling fell 0.2% to 1.4191 against the Dollar, adding to Tuesday’s drop that ended a six-day run of gains, its longest since the period ended June 19.

Data to look out for today.

12:45: EUR ECB Rate Decision

12:45: EUR ECB Deposit Facility Rate

12:45: EUR ECB Marginal Lending Facility

13:30: EUR ECB Press Conference

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

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