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Foreign Exchange Daily Market Update 10/01/2018

Wed, January 10, 2018

Expectation of the pound’s growth could be sort lived.

Sterling may have already peaked.

The pounds gains against the dollar in 2017 may not progress as last year’s gains largely mirror weakness in the dollar. With U.K. inflation expected to slow and Brexit concerns coming to the forefront, the pound is unlikely to break much higher this year.

Recent data has created doubts about the UK economy.  Data out earlier this week showed U.K. consumers have curbed their spending for the first time in five years in 2017, while other data released showed that UK house prices fell for the first time in six months in December.

The pound had little change this year after gaining almost 10% against the dollar. some are predicting GBP could slip to $1.32 this quarter from its current level of about $1.35, before rebounding to $1.36 by year-end.

The Pound fell to $1.3485 against the dollar this morning. Sterling slipped to 1.1294 against the Euro.

 

Data to look out today.   

Not much data due out today.

 

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 09:30 GBP GBP Industrial Production (MoM)
Wed 09:30 GBP GBP Industrial Production (YoY)
Wed 09:30 GBP GBP Manufacturing Production (MoM)
Wed 09:30 GBP GBP Manufacturing Production (YoY)
Wed 09:30 GBP GBP Construction Output SA (MoM)
Wed 09:30 GBP GBP Construction Output SA (YoY)
Wed 09:30 GBP GBP Visible Trade Balance (Pounds)
Wed 09:30 GBP GBP Trade Balance Non EU GBP/Mn
Wed 09:30 GBP GBP Trade Balance
Wed 12:00 USD USD MBA Mortgage Applications
Wed 13:00 GBP GBP NIESR Gross Domestic Product Estimate
Wed 13:30 USD USD Import Price Index (MoM)
Wed 13:30 USD USD Import Price Index ex Petroleum (MoM)
Wed 13:30 USD USD Import Price Index (YoY)
Wed 13:30 USD USD Export Price Index (MoM)
Wed 13:30 USD USD Export Price Index (YoY)
Wed 14:00 USD USD Fed's Evans Discusses Economy and Policy Outlook
Wed 15:00 USD USD Wholesale Inventories (MoM)
Wed 15:00 USD USD Wholesale Trade Sales (MoM)
Wed 15:30 USD USD DOE U.S. Gasoline Inventories
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. Distillate Inventory
Wed 18:00 USD USD U.S. to Sell USD20 Bln 10-Year Notes Reopening
Wed 18:30 USD USD Fed's Bullard Speaks on U.S. Economic Outlook in St. Louis

Foreign Exchange Rates

GBP/ USD 1.34858
GBP/ EUR 1.12977
EUR/ USD 1.19422
GBP/ AUD 1.72649
GBP/ CAD 1.681892
GBP/ CHF 1.320581
GBP/ CZK 28.78274
GBP/ DKK 8.43561
GBP/ HKD 10.55711
GBP/ INR 85.8705
GBP/ JPY 150.667
GBP/ NOK 10.94802
GBP/ NZD 1.88115
GBP/ PLN 4.726910
GBP/ SEK 11.033568
GBP/ SGD 1.80504
GBP/ THB 43.5959
GBP/ TRY 5.232195
GBP/ ZAR 16.977577

*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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