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Foreign Exchange Daily Market Update 14/12/2017

Thu, December 14, 2017

Sterling strengthens on a possible Brexit-Bill deal in Parliament. 

Sterling strengthened after the U. K’s government indicated that lawmakers will get a vote on a Brexit deal in a concession to get legislation through parliament.

Sterling three-day loss was halted after David Davis the U.K. Brexit Secretary guaranteed lawmakers that the U.K. won’t ratify any deal without the agreement of parliament, as a Brexit bill faces its first vote where the government might lose.

The pound reduced gains after employment data showed that the U.K. had lost jobs at the fastest rate in more than two years. The data comes just one day before the Bank of England announces interest rates.

Sterling fell from the day’s highs after the number of people in work fell by 56,000 since October, despite a moderate pick-up in wages.

Sterling is still up 8% this year, even with the BoE having raised interest-rates at its last meeting as Brexit’s impact on the economy hasn’t been as bad as 1st feared. While it isn’t expected to move on interest rates on Thursday, many will be watching if it acknowledges the Brexit progress to remove any downside.

Sterling gained 0.3% to $1.3362 yesterday morning, halting three days of losses. It gained as much as 0.4 % earlier.  The Pound gained on the euro to €1.137 

 

Data to look out today.   

12:00 UK BOE bank rate.

12:45 ECB bank rate.

13:30 USD Retail sales.

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

Day Time Currency Event
WTHUR 07:00 EUR EUR EU 25 New Car Registrations
THUR 08:00 EUR EUR Markit France Manufacturing PMI
THUR 08:00 EUR EUR Markit France Services PMI
THUR 08:00 EUR EUR Markit France Composite PMI
THUR 08:30 EUR EUR Markit/BME Germany Manufacturing PMI
THUR 08:30 EUR EUR Markit Germany Services PMI
THUR 08:30 EUR EUR Markit/BME Germany Composite PMI
THUR 09:00 EUR EUR Markit Eurozone Manufacturing PMI
THUR 09:00 EUR EUR Markit Eurozone Services PMI
THUR 09:00 EUR EUR Markit Eurozone Composite PMI
THUR 09:30 GBP GBP Retail Sales Ex Auto Fuel (MoM)
THUR 09:30 GBP GBP Retail Sales Ex Auto Fuel (YoY)
THUR 09:30 GBP GBP Retail Sales Inc Auto Fuel (MoM)
THUR 09:30 GBP GBP Retail Sales Inc Auto Fuel (YoY)
THUR 12:00 GBP GBP Bank of England Bank Rate
THUR 12:00 GBP GBP BOE Asset Purchase Target
THUR 12:00 GBP GBP BOE Corporate Bond Target
THUR 12:45 EUR EUR European Central Bank Rate Decision
THUR 12:45 EUR EUR ECB Marginal Lending Facility
THUR 12:45 EUR EUR ECB Deposit Facility Rate
THUR 13:30 EUR EUR ECB President Draghi holds news conference in Frankfurt
THUR 13:30 USD USD Initial Jobless Claims
THUR 13:30 USD USD Continuing Claims
THUR 13:30 USD USD Retail Sales Advance (MoM)
THUR 13:30 USD USD Retail Sales Ex Auto (MoM)
THUR 13:30 USD USD Retail Sales Ex Auto and Gas
THUR 13:30 USD USD Retail Sales Control Group
THUR 13:30 USD USD Import Price Index (MoM)
THUR 13:30 USD USD Import Price Index ex Petroleum (MoM)
THUR 13:30 USD USD Import Price Index (YoY)
THUR 13:30 USD USD Export Price Index (MoM)
THUR 13:30 USD USD Export Price Index (YoY)
THUR 14:45 USD USD Markit US Manufacturing PMI
THUR 14:45 USD USD Markit US Services PMI
THUR 14:45 USD USD Markit US Composite PMI
THUR 15:00 USD USD Business Inventories
THUR 15:30 USD USD EIA Natural Gas Storage Change
THUR 15:30 USD USD EIA Working Natural Gas Implied Flow

Foreign Exchange Rates

GBP/USD 1.34448
GBP/EUR 1.13603
EUR/USD 1.18218
GBP/AUD 1.7516
GBP/CAD 1.72673
GBP/CHF 1.32296
GBP/CZK 29.1858
GBP/DKK 8.46041
GBP/HKD 10.50320
GBP/INR 86.4063
GBP/JPY 151.638
GBP/ NOK 11.06855
GBP/ NZD 1.92143
GBP/PLN 4.77348
GBP/ SEK 11.23750
GBP/ SGD 1.81182
GBP/THB 43.6306
GBP/TRY 5.12841
GBP/ ZAR 18.14816
GBP/AED 4.93851

*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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