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Foreign Exchange Daily Market Update 14/03/2018

Wed, March 14, 2018

Hammond tries his best to conceal a gloomy U.K. Outlook.

Philip Hammond tried his best to talk up the U.K. economy.  

The U. K’s Brexit transition should end by 2021, but the government’s budget watchdog lowered its growth forecast. Britain may still be paying money to the EU for decades to come, well into 2060.

The chancellor is likely to anger votes after eight years of austerity, but Hammond lacks the means to be able to ease the pain. Also, the Conservative Party is heavily divided on how to tackle Brexit.

The Chancellor tried to disguise the murky picture in his Spring statement where he repeated his line about seeing light at the end of the tunnel.  

The pound was at $1.3995, up 0.6% on the day, against the dollar. Sterling rose to 12.86 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 07:00 EUR EUR German Consumer Price Index (MoM)
WED 07:00 EUR EUR German Consumer Price Index (YoY)
WED 07:30 EUR EUR ECB's Coeure meets fintech companies in Berlin
WED 08:00 EUR EUR ECB President Draghi speaks in Frankfurt
WED 08:45 EUR EUR ECB's Peter Praet to speak in Frankfurt
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 Employment (QoQ)
WED 10:00 EUR EUR Euro-Zone Employment (YoY)
WED 10:45 EUR EUR ECB Vice President Constancio speaks in Frankfurt
WED 11:00 USD USD MBA Mortgage Applications
WED 12:30 USD USD Retail Sales Advance (MoM)
WED 12:30 USD USD Retail Sales Ex Auto (MoM)
WED 12:30 USD USD Retail Sales Ex Auto and Gas
WED 12:30 USD USD Retail Sales Control Group
WED 12:30 USD USD Producer Price Index Final Demand (MoM)
WED 12:30 USD USD Producer Price Index Ex Food and Energy (MoM)
WED 12:30 USD USD Producer Price Index Ex Food Energy Trade (MoM)
WED 12:30 USD USD Producer Price Index Final Demand (YoY)
WED 12:30 USD USD Producer Price Index Ex Food and Energy (YoY)
WED 12:30 USD USD Producer Price Index Ex Food Energy Trade (YoY)
WED 14:00 USD USD Business Inventories
WED 14:30 USD USD DOE U.S. Crude Oil Inventories
WED 14:30 USD USD DOE Cushing OK Crude Inventory
WED 14:30 USD USD DOE U.S. Gasoline Inventories
WED 14:30 USD USD DOE U.S. Distillate Inventory
WED 16:15 EUR EUR ECB's Coeure speaks in Berlin

Foreign Exchange Rates

GBP / USD 1.39472
GBP / EUR 1.12821
EUR / USD 1.23551
GBP / AUD 1.76997
GBP/ CAD 1.80477
GBP / CHF 1.32017
GBP / CZK 28.9034
GBP/ DKK 8.40122
GBP/ HKD 10.93500
GBP/ INR 90.3858
GBP/ JPY 148.346
GBP / MUR 45.49
GBP/ NOK 10.80881
GBP/ NZD 1.90348
GBP/ PLN 4.73877
GBP/ SEK 11.42991
GBP/ SGD 1.82018
GBP/ THB 43.3674
GBP/ TRY 5.42228
GBP/ ZAR 16.44608

*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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