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Foreign Exchange Daily Market Update 05/01/2018

Fri, January 05, 2018

U.K. car sales fall the most since June’s Brexit referendum.

U.K. car sales fell by its biggest annual slide since the global recession, truncated by Brexit’s impact on buyer’s confidence and persistent scepticism over the emissions performance of diesel cars.

Preliminary figures indicate 2017 sales fell 5.6% from the previous year to 2.54 million vehicles, the steepest drop since 2009. Demand for diesel cars tumbled 17%, with a swing back to petrol models prompting the first yearly increase in carbon emissions since records began in 1997.

The fall in sales from record levels in the past two years comes as confusion over the outcome of Brexit negotiations weighs on consumer, and the fall in the pound crimps the British consumer spending power. The slide is set to continue next year, with expected sales to dip between 5% to 7%.

There is still apprehension over the rigged emissions-testing of diesel cars from Volkswagen and other car-makers is also discouraging consumers from purchasing new cars, while many have switched back to petrol, a trend that has reversed a 19-year run.

Sterling was little unchanged trading at 1.352 against the dollar this morning. It slipped slightly against the Euro to 1.122.

 

Data to look out today.   

10:00 EUR Euro- zone PMI

13:30 USD Non-Farm Payroll

13:30 USD Unemployment rate for December

15:00 USD Non-Manufacturing   

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
FRI 07:00 EUR EUR German Retail Sales (MoM)
FRI 07:00 EUR EUR German Retail Sales (YoY)
FRI 08:30 EUR EUR Markit Germany Construction PMI
FRI 09:00 GBP GBP New Car Registrations (YoY)
FRI 09:10 EUR EUR Markit Italy Retail PMI
FRI 09:10 EUR EUR Markit France Retail PMI
FRI 09:10 EUR EUR Markit Germany Retail PMI
FRI 09:10 EUR EUR Markit Eurozone Retail PMI
FRI 09:30 GBP GBP Unit Labor Costs (YoY)
FRI 10:00 EUR EUR Euro-Zone Producer Price Index (MoM)
FRI 10:00 EUR EUR Euro-Zone Producer Price Index (YoY)
FRI 10:00 EUR EUR Euro-Zone Consumer Price Index Core (YoY)
FRI 10:00 EUR EUR Euro-Zone Consumer Price Index Estimate (YoY)
FRI 13:30 USD USD Change in Non-farm Payrolls
FRI 13:30 USD USD Two-Month Payroll Net Revision
FRI 13:30 USD USD Change in Private Payrolls
FRI 13:30 USD USD Change in Manufact. Payrolls
FRI 13:30 USD USD Unemployment Rate
FRI 13:30 USD USD Average Hourly Earnings (MoM)
FRI 13:30 USD USD Average Hourly Earnings (YoY)
FRI 13:30 USD USD Average Weekly Hours All Employees
FRI 13:30 USD USD Labor Force Participation Rate
FRI 13:30 USD USD Underemployment Rate
FRI 13:30 USD USD Trade Balance
FRI 13:30 USD USD Revisions: Seasonally Adjusted Household Survey data
FRI 15:00 USD USD ISM Non-Manufacturing/Services Composite
FRI 15:00 USD USD Factory Orders
FRI 15:00 USD USD Factory Orders Ex Trans
FRI 15:00 USD USD Durable Goods Orders
FRI 15:00 USD USD Durables Ex Transportation
FRI 15:00 USD USD Cap Goods Orders Nondef Ex Air
FRI 15:00 USD USD Cap Goods Ship Nondef Ex Air
FRI 15:15 USD USD Fed's Harker Speaks on the Economic Outlook at AEA
FRI 17:30 USD USD Fed's Mester Speaks on Panel on Monetary Policy Coordination
FRI 18:00 USD USD Baker Hughes U.S. Rig Count

Foreign Exchange Rates

GBP/ USD 1.35223
GBP/ EUR 1.12263
EUR/ USD 1.20383
GBP/ AUD 1.72335
GBP/ CAD 1.69086
GBP/ CHF 1.32110
GBP/ CZK 28.6424
GBP/ DKK 8.36245
GBP/ HKD 10.58750
GBP/ INR 85.7243
GBP/ JPY 153.146
GBP/ NOK 10.94133
GBP/ NZD 1.88944
GBP/ PLN 4.66712
GBP/ SEK 11.02685
GBP/ SGD 1.79538
GBP/ THB 43.6401
GBP/ TRY 5.06319
GBP/ ZAR 16.68419

*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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