Foreign Exchange Daily Market Update 10/04/2017

Mon, April 10, 2017

Pound Has First Weekly Drop This Month

The Pound declined on Friday after worse than expected U.K. economic data was followed by a fall in the U.S. unemployment rate that strengthened the Dollar.

The US unemployment rate fell to 4.5% from a forecasted 4.7%. Non-farm payrolls come in at 98,000 jobs with the forecast up at 180,000.

The U.K. currency dropped as data displayed that in February manufacturing, construction and industrial production were all far from the expectations of economists. The Pound prolonged its fall versus the dollar after US data showed that the jobless rate surprisingly dropped last month to its lowest in almost a decade. 

The Pound fell after this data to a low of 1.2372 before recovering slightly to 1.2397. Sterling was little changed against the Euro at 1.1711.

Data to look out for today.

Not Much Data Out Today

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