Mon, October 16, 2017
The Pound continued to extend its good run versus the Dollar. Last week the Pound started at 1.3083 against the Dollar and ended the week at 1.3259. It is currently trading at 1.3288.
Brexit was the main influencer on the currency last week. On Thursday it was believed that the process had hit a deadlock which see the pound fall from 1.3241 to 1.3137. This later took a U turn after it was announced that there will be a breakthrough in the next 2 months.
There are many UK figures being released this week including UK Inflation and UK wage growth. Inflation is forecasted to rise to 3% which is 1% above the BOE’s target. However, UK wage growth has been a problem over the past few months and the Pound could take a hit if the data released on Wednesday continues to show this.
The Pound is currently trading at 1.3294 against the Dollar and 1.1271 versus the Euro.
Data to look out today.
Not Much Data Out Today
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| Day | Time | Currency | Event |
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| MON | 06:00 | EUR | EUR German Wholesale Price Index (MoM) | MON | 06:00 | EUR | EUR German Wholesale Price Index (YoY) | MON | 09:00 | EUR | EUR Euro-Zone Trade Balance s.a. (euros) | MON | 09:00 | EUR | EUR Euro-Zone Trade Balance (euros) | MON | 12:30 | USD | USD Empire Manufacturing | MON | 15:30 | USD | USD U.S. to Sell USD42 Bln 3-Month Bills | MON | 15:30 | USD | USD U.S. to Sell USD36 Bln 6-Month Bills |
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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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