Foreign Exchange Business Foreign Exchange Personal Foreign Exchange Partners

Foreign Exchange Daily Market Update 19/02/2018

Mon, February 19, 2018

This week may be make or break for the pound as speculation that the BOE will raise rates in May.  

Pound’s strength may be driven this week by economic data that could determine whether the BOE will raises interest rates by May.

As U.K. employment figures are scheduled for Wednesday, it is expected that wages have increased and is likely to push the pound higher as it pushes inflation beyond the post-Brexit level. GDP figures due on Thursday are expected to an increase of 0.5% in the fourth quarter. Analysis are saying that there is a 78% chance that the BOE will raise rates by May.

Sterling posted a weekly gain against the dollar for the first time this month. It rose back above $1.40 after the Monetary Policy Committee’s decision on Feb. 8 increased speculation of higher borrowing costs in the first half of this year. Inflation is also steady at 3%, well above the central bank’s target.

The pound rose 1.6% last week to $1.4042 on Friday evening against the dollar, after falling 2.4% in the two weeks prior. GBP had little change against the Euros at 1.124, after a two-week drop.  

 

Data to look out today.   

Not much data due out today.

 

  • Employment data mark cornerstone for wage-led inflation
  • Money markets suggest 78 percent chance of rate hike by May

 

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 EUR EUR Euro-Zone Current Account s.a. (euros) 09:00
Mon EUR EUR Euro-Zone Current Account n.s.a. (euros) 09:00
Mon EUR EUR Euro-Zone Construction Output s.a. (MoM) 10:00
Mon EUR EUR Euro-Zone Construction Output w.d.a. (YoY) 10:00
Mon GBP GBP BOE's Carney Speaks at Event in London 17:45

Foreign Exchange Rates

GBP/ USD 1.40187
GBP/ EUR 1.12825
EUR/ USD 1.24178
GBP/ AUD 1.76675
GBP/ CAD 1.75598
GBP/ CHF 1.29468
GBP/ CZK 28.5419
GBP/ DKK 8.40330
GBP/ HKD 10.96515
GBP/ INR 90.3374
GBP/ JPY 149.247
GBP/ NOK 10.90298
GBP/ NZD 1.89844
GBP/ PLN 4.67258
GBP/ SEK 11.1854
GBP/ SGD 1.83652
GBP/ THB 43.9774
GBP/ TRY 5.26438
GBP/ ZAR 16.32657

*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team

February 2018
S M T W T F S
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 1 2 3
RSS Feed

Please subscribe to our FREE foreign exchange market update feed.

Cookies On The KBRFX Website

We use cookies on our website. They help us to know a little bit about you & how you use our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on our website. However, if you would like to, you can change your cookie settings at any time.

Continue Find out more