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Foreign Exchange Daily Market Update 20/12/2017

Wed, December 20, 2017

EU are looking for Post-Brexit trade deal to be in place by Jan 2021. 

The EU expects the U.K.’s post-Brexit transition period to last until the end of 2020 and are looking for any trade deal to kick in immediately after that. 

The U.K. wants a transition period after it leaves the EU in March 2019 to give ascertained to businesses about what rules they’ll be operating under. It would also give more time for the two sides to negotiate a full-blown trade agreement. 

UK government will argue that any trade agreement can be negotiated before the transition phase even starts.

Talks between the two sides over the transition phase won’t start until January and securing such an arrangement “isn’t a given, even if the UK and EU agree on the transition terms early next year, it won’t be confirmed until the full Brexit deal is clarified.  

Sterling fell to $1.337 this morning against the dollar.  The Pound fell to 1.128 against the Euro.

 

Data to look out today.   

13:15  GBP Carney speaks at parliament hearing in London.

 

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
WED 07:00 EUR EUR German Producer Price Index (MoM)
WED 07:00 EUR EUR German Producer Price Index (YoY)
WED 09:00 EUR EUR Euro-Zone Current Account s.a. (euros)
WED 09:00 EUR EUR Euro-Zone Current Account n.s.a. (euros)
WED 11:00 GBP GBP CBI Reported Sales
WED 11:00 GBP GBP CBI Total Dist. Reported Sales
WED 12:00 USD USD MBA Mortgage Applications
WED 13:15 GBP GBP Carney Speaks at Parliament Hearing in London
WED 15:00 USD USD Existing Home Sales
WED 15:00 USD USD Existing Home Sales (MoM)
WED 15:30 USD USD DOE U.S. Crude Oil Inventories
WED 15:30 USD USD DOE Cushing OK Crude Inventory
WED 15:30 USD USD DOE U.S. Gasoline Inventories
WED 15:30 USD USD DOE U.S. Distillate Inventory
WED 00:01 GBP GBP GfK Consumer Confidence

Foreign Exchange Rates

GBP/ USD 1.3382
GBP/ EUR 1.13073
EUR/ USD 1.18319
GBP/ AUD 1.74752
GBP/ CAD 1.72286
GBP/ CHF 1.32229
GBP/ CZK 29.1696
GBP/ DKK 8.41662
GBP/ HKD 10.47456
GBP/ INR 85.7358
GBP/ JPY 151.442
GBP/ NOK 11.15097
GBP/ NZD 1.91953
GBP/ PLN 4.74553
GBP/ SEK 11.18520
GBP/ SGD 1.80122
GBP/ THB 43.8081
GBP/ TRY 5.13753
GBP/ ZAR 17.03754

*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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