Foreign Exchange Daily Market Update 09/01/2018

Tue, January 09, 2018

Sterling slips as weak data and return of U.K. Political Drama.

Sterling slips following weak economic data and uncertainty over Theresa May’s cabinet reshuffle.

The pound weakened after figures showed U.K. consumers curbed spending for the first time in five years in 2017. Other data out showed that house prices in the U.K fell for the first time in six months in December. Simultaneously, the prime minster is said to be considering creating a position for a minister in charge of contingency planning for a no-deal Brexit as part of a cabinet reshuffle.

The reshuffle is itself is unlikely to pull the pound down directly, whereas appointing a minister to plan for a crash EU exit could be regarded as supporting May’s previous claim that no deal on Brexit is better than a bad deal. This could see sterling weaken against the Euro.

Sterling fell 0.3% to $1.3528 against the dollar and was little changed at 1.132 against the Euro.   


Data to look out today.   

Not much data due out today.  




KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex

Data Releases

Day Time Currency Event
Tue 07:00 EUR EUR German Industrial Production s.a. (MoM)
Tue 07:00 EUR EUR German Industrial Production n.s.a. and w.d.a. (YoY)
Tue 07:00 EUR EUR German Trade Balance
Tue 07:00 EUR EUR German Current Account (euros)
Tue 07:00 EUR EUR German Exports s.a. (MoM)
Tue 07:00 EUR EUR German Imports s.a. (MoM)
Tue 10:00 EUR EUR Euro-Zone Unemployment Rate
Tue 11:00 USD USD NFIB Small Business Optimism
Tue 15:00 USD USD JOLTS Job Openings
Tue 15:00 USD USD Fed's Kashkari Speaks on Moderated Panel
Tue 16:30 USD USD U.S. to Sell 4-Week Bills
Tue 18:00 USD USD U.S. to Sell USD24 Bln 3-Year Notes

Foreign Exchange Rates

GBP/ USD 1.35183
GBP/ EUR 1.13277
EUR/ USD 1.19277
GBP/ AUD 1.72900
GBP/ CAD 1.68212
GBP/ CHF 1.32281
GBP/ CZK 28.7854
GBP/ DKK 8.43561
GBP/ HKD 10.57580
GBP/ INR 85.9445
GBP/ JPY 152.671
GBP/ NOK 10.94802
GBP/ NZD 1.88606
GBP/ PLN 4.73148
GBP/ SEK 11.12480
GBP/ SGD 1.80504
GBP/ THB 43.5959
GBP/ TRY 5.10129
GBP/ ZAR 16.82618

*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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