Wed, August 31, 2016
With UK Consumer Confidence advancing by more than predicted, the Pound Euro exchange rate recovery continued on this morning, increasing to a high of 1.1801. This was the strongest level since the beginning of August and close to its post-Brexit high of 1.20.
UK data has surprised to the upside since the U.K. chose to exit the EU in late June. Recent employment and retail sales numbers were particularly notable. While there are concerns that the situation could rapidly and dramatically take a U-turn in the near future, for the time being investors are being moderately cheered by the results.
Yesterday’s weak UK data was incapable of keeping Sterling on the rise against the Euro. Sterling also fell against both the Euro and the Dollar Monday during quiet UK bank holiday trade, but continued its rebound on Tuesday due to disappointing Euro zone news.
U.K. house prices advanced the most in five months in August as a shortage of supply supported values even among weaker demand.
Prices rose 0.6% from July and were up 5.6% compared with a year earlier, Nationwide Building Society said in London on Wednesday. In the past three months, values have risen 1.1%, taking the average to £206,145 ($270,000).
The Pound rose to 1.3131 against the Dollar as of 11:42am. Sterling also rose against the Euro to a high of 1.1801.
Data to look out for today.
08:55: EUR: German Unemployment Rate
10:00: EUR Euro-zone Consumer Price Index
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 | 06:00 | GBP | GBP Nationwide House Prices n.s.a. (YoY) | WED | 06:00 | GBP | GBP Nationwide House Prices s.a. (MoM) | WED | 06:00 | EUR | EUR German Retail Sales (MoM) | WED | 06:00 | EUR | EUR German Retail Sales (YoY) | WED | 06:00 | EUR | EUR ECB's Villeroy speaks at Frankfurt event | WED | 07:15 | EUR | EUR ECB's Praet speaks on panel in Beijing | WED | 07:15 | USD | USD Fed's Rosengren to Address Financial Conference in Beijing | WED | 07:15 | USD | USD Fed's Evans Speaks on Economy and Policy in Beijing | WED | 07:55 | EUR | EUR German Unemployment Change | WED | 07:55 | EUR | EUR German Unemployment Rate s.a. | WED | 09:00 | EUR | EUR Euro-Zone Unemployment Rate | WED | 09:00 | EUR | EUR Euro-Zone Consumer Price Index Estimate (YoY) | WED | 09:00 | EUR | EUR Euro-Zone Consumer Price Index - Core (YoY) | WED | 11:00 | USD | USD MBA Mortgage Applications | WED | 12:00 | USD | USD Fed's Kashkari Speaks on Fed Structure in St. Paul | WED | 12:15 | USD | USD ADP Employment Change | WED | 13:45 | USD | USD Chicago Purchasing Manager | WED | 13:50 | GBP | GBP Bank of England Bond-Buying Operation Results | WED | 14:00 | USD | USD Pending Home Sales (MoM) | WED | 14:00 | USD | USD Pending Home Sales (YoY) | WED | 14:30 | USD | USD DOE U.S. Crude Oil Inventories | WED | 14:30 | USD | USD DOE Cushing OK Crude Inventory | WED | 14:30 | USD | USD DOE U.S. Gasoline Inventories | WED | 14:30 | USD | USD DOE U.S. Distillate Inventory |
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*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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