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Foreign Exchange Daily Market Update 14/02/2018

Wed, February 14, 2018

Sterling strengthens as U.K. Inflation Boosts BOE Rate Hike Case.

Sterling rose against the dollar for a second day after data showed better-than-expected inflation, boosting the case for the BOE to increase interest rates again this year.

The pound halted a two-day decline against the euro as annual consumer-price growth held steady at 3% in January, it was predicted to slow down to 2.9%. Mark Carney the Bank of England Governor said last week that the central bank may need to tighten policy sooner and faster than anticipated, prompting a repricing of market interest-rate expectations.

Better -than-expected inflation enhances the view that the BOE may hike rates in May, given the central bank’s concerns about inflation

Officials at the central Bank have backed the view that more rate hikes are coming, saying that borrowing costs will likely rise earlier than previously thought. The U.K. will need a succession of rate increases to stop the economy from overheating. There is a 75% chance of a rate hike in May this year.

Sterling rose as much as 0.5% to $1.3902 against the dollar, while it climbed 0.1% to 1.127 against the Euro.

 

  • Consumer-price growth unexpectedly holds at 3% in January
  • Data supports the case for a BOE rate hike in May: Danske

 

Data to look out today.   

13:30 USD Consumer Price Index (YOY ) (JAN)

13:30 USD Retail Sales (MOM) (JAN)

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 Gross Domestic Product s.a. (QoQ)
WED 07:00 EUR EUR German Gross Domestic Product w.d.a. (YoY)
WED 07:00 EUR EUR German Gross Domestic Product n.s.a. (YoY)
WED 07:00 EUR EUR German Consumer Price Index (MoM)
WED 07:00 EUR EUR German Consumer Price Index (YoY)
WED 09:00 EUR EUR Italian Gross Domestic Product w.d.a. (QoQ)
WED 09:00 EUR EUR Italian Gross Domestic Product w.d.a. (YoY)
WED 10:00 EUR EUR Euro-Zone Industrial Production s.a. (MoM)
WED 10:00 EUR EUR Euro-Zone Industrial Production w.d.a. (YoY)
WED 10:00 EUR EUR Euro-Zone Gross Domestic Product s.a. (QoQ)
WED 10:00 EUR EUR Euro-Zone Gross Domestic Product s.a. (YoY)
WED 10:20 EUR EUR ECB's Mersch Speaks in Frankfurt
WED 11:20 EUR EUR ECB's Mersch SNB's Zurbruegg Participate in Panel Discussion
WED 12:00 USD USD MBA Mortgage Applications
WED 12:45 EUR EUR ECB's Mersch speaks in Frankfurt
WED 13:30 USD USD Consumer Price Index (MoM)
WED 13:30 USD USD Consumer Price Index Ex Food and Energy (MoM)
WED 13:30 USD USD Consumer Price Index (YoY)
WED 13:30 USD USD Consumer Price Index Ex Food and Energy (YoY)
WED 13:30 USD USD Consumer Price Index n.s.a.
WED 13:30 USD USD Consumer Price Index Core Index s.a.
WED 13:30 USD USD Retail Sales Advance (MoM)
WED 13:30 USD USD Retail Sales Ex Auto (MoM)
WED 13:30 USD USD Retail Sales Ex Auto and Gas
WED 13:30 USD USD Retail Sales Control Group
WED 13:30 USD USD Real Avg Weekly Earnings (YoY)
WED 13:30 USD USD Real Avg Hourly Earning (YoY)
WED 15:00 USD USD Business 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. Gasoline Inventories
WED 15:30 USD USD DOE U.S. Distillate Inventory

Foreign Exchange Rates

GBP/ USD 1.38459
GBP/ EUR 1.12101
EUR/ USD 1.23497
GBP/ AUD 1.76475
GBP/ CAD 1.74346
GBP/ CHF 1.29468
GBP/ CZK 28.4619
GBP/ DKK 8.35366
GBP/ HKD 10.87466
GBP/ INR 88.8157
GBP/ JPY 148.890
GBP/ NOK 10.91883
GBP/ NZD 1.89844
GBP/ PLN 4.68568
GBP/ SEK 11.1144
GBP/ SGD 1.83652
GBP/ THB 43.6210
GBP/ TRY 5.27148
GBP/ ZAR 16.41457

*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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