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Foreign Exchange Daily Market Update 16/02/2018

Fri, February 16, 2018

Pound strengthens as the EU are said to be softening on Brexit transition.

Sterling rose on the back of dollar weakness and a report that the EU is considering its stance on the UK during the Brexit transition period.

GBP strengthen against the dollar for a fourth day in a row, touching a 10-day high.  Sterling rose after European Council’s Brexit working party was diluting the mechanism to sanction the U.K. if it breaks EU rules during the Brexit transition phase. No decision has yet been taken.

March EU summit and the BOE rate decision in May, increased by almost 80% chance that the central bank will raise interest rates at the meeting after the BOE said last week it may raise borrowing costs sooner and faster than previously expected.

Sterling increased by as much as 0.6% to $1.4077, taking its gains this week to 1.7%. It rose 0.2% against the euro to 1.125.

 

Data to look out today.   

9:30 GBP Retail sales (YOY) (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
FRI 07:00 EUR EUR German Wholesale Price Index (MoM)
FRI 07:00 EUR EUR German Wholesale Price Index (YoY)
FRI 08:20 EUR EUR ECB's Coeure Speaks in Skopje Macedonia
FRI 09:30 GBP GBP Retail Sales Ex Auto Fuel (MoM)
FRI 09:30 GBP GBP Retail Sales Ex Auto Fuel (YoY)
FRI 09:30 GBP GBP Retail Sales Inc Auto Fuel (MoM)
FRI 09:30 GBP GBP Retail Sales Inc Auto Fuel (YoY)
FRI 13:30 USD USD Import Price Index (MoM)
FRI 13:30 USD USD Import Price Index ex Petroleum (MoM)
FRI 13:30 USD USD Import Price Index (YoY)
FRI 13:30 USD USD Export Price Index (MoM)
FRI 13:30 USD USD Export Price Index (YoY)
FRI 13:30 USD USD Housing Starts
FRI 13:30 USD USD Housing Starts (MoM)
FRI 13:30 USD USD Building Permits
FRI 13:30 USD USD Building Permits (MoM)
FRI 15:00 USD USD U. of Mich Sentiment
FRI 15:00 USD USD U. of Mich Current Conditions
FRI 15:00 USD USD U. of Mich Expectations
FRI 15:00 USD USD U. of Mich 1 Yr Inflation
FRI 15:00 USD USD U. of Mich 5-10 Yr Inflation
FRI 18:00 USD USD Baker Hughes U.S. Rig Count

Foreign Exchange Rates

GBP/ USD 1.40971
GBP/ EUR 1.12507
EUR/ USD 1.25345
GBP/ AUD 1.76675
GBP/ CAD 1.75598
GBP/ CHF 1.29468
GBP/ CZK 28.4619
GBP/ DKK 8.38047
GBP/ HKD 11.02287
GBP/ INR 90.2828
GBP/ JPY 149.374
GBP/ NOK 10.88883
GBP/ NZD 1.89844
GBP/ PLN 4.67258
GBP/ SEK 11.1144
GBP/ SGD 1.83652
GBP/ THB 4.0410
GBP/ TRY 5.28248
GBP/ ZAR 16.34157

*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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