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Foreign Exchange Daily Market Update 08/01/2018

Mon, January 08, 2018

Pound could strengthen this week as positive vibes on Brexit. 

After a quiet start to January, this week we could see the pound strengthen.

As Parliament returns after the Christmas break this week. Many expect to see new levels in sterling positions.  Even though there is ever present uncertainty still over Brexit and a mixed economic picture.  

Brexit talks in December which lead to a breakthrough helped the pound to end 2017 up almost 10% against the euro.  The dollar continuing to weaken in 2018. Still, as the market faces a crucial 10 months of Brexit talks before an October target to reach a trade agreement with the EU, domestic factors will also be key. 

Many seem confident of progress by March, even as it takes in the EU summit. The next couple of months are likely to be the calm before the storm.

On the data front, manufacturing and industrial production growth are expected to slow year-on-year, which could weigh on the currency. 

Sterling was unchanged against the dollar trading at 1.352 this morning.  The Pound rose against the Euro to 1.1280.

 

Data to look out today.   

10:00 Eur Euro – zone 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
MON 07:00 EUR EUR German Factory Orders (MoM)
MON 07:00 EUR EUR German Factory Orders n.s.a. (YoY)
MON 08:30 GBP GBP Halifax House Prices (MoM)
MON 08:30 GBP GBP Halifax House Price 3Mths/Year
MON 09:30 EUR EUR Euro-Zone Sentix Investor Confidence
MON 10:00 EUR EUR Euro-Zone Consumer Confidence
MON 10:00 EUR EUR Euro-Zone Retail Sales (MoM)
MON 10:00 EUR EUR Euro-Zone Retail Sales (YoY)
MON 10:00 EUR EUR Euro-Zone Economic Confidence
MON 10:00 EUR EUR Euro-Zone Business Climate Indicator
MON 10:00 EUR EUR Euro-Zone Industrial Confidence
MON 10:00 EUR EUR Euro-Zone Services Confidence
MON 16:30 USD USD U.S. to Sell USD48 Bln 3-Month Bills
MON 16:30 USD USD U.S. to Sell USD42 Bln 6-Month Bills
MON 17:40 USD USD Fed's Bostic Speaks on Economic Outlook in Atlanta
MON 18:35 USD USD Fed's Williams Speaks at Inflation Targeting Conference
MON 20:00 USD USD Consumer Credit
MON 21:00 USD USD Fed's Rosengren Speaks at Inflation Targeting Conference

Foreign Exchange Rates

GBP/ USD 1.35223
GBP/ EUR 1.12814
EUR/ USD 1.19822
GBP/ AUD 1.72335
GBP/ CAD 1.67860
GBP/ CHF 1.32281
GBP/ CZK 28.7854
GBP/ DKK 8.39587
GBP/ HKD 10.57580
GBP/ INR 85.6809
GBP/ JPY 153.003
GBP/ NOK 10.89144
GBP/ NZD 1.88607
GBP/ PLN 4.69731
GBP/ SEK 11.05719
GBP/ SGD 1.80033
GBP/ THB 43.5720
GBP/ TRY 5.07614
GBP/ ZAR 16.74235

*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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