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Foreign Exchange Daily Market Update 16/03/2018

Fri, March 16, 2018

Pound could be in for big moves.

Sterling’s next big move could just around the corner as Brexit negotiations come up, but which way it will sway depends entirely on the result.

The biggest challenge faced is the possibility of the U.K. and the EU failing to secure a Brexit transition deal and decisions at next week’s EU summit could be vital.  Sterling has been steady at levels near $1.40 since early February and hasn’t changed much against the euro over the past six months. The pound’s recent stability suggests that the market isn’t fully pricing in a negative outcome.

The Irish border seems to be the main hurdle preventing a transitional Brexit deal to be put in place for when Britain leaves the EU.  Theresa May has ruled out the possibility of entering a customs union with the Euro zone. Northern Ireland in the customs union and parts of the single market.

Sterling traded at around $1.3970 yesterday afternoon.  The pound broke 1.13 trading at 1.132 against the euro.

 

Data to look out today.   

10:00 EUR Euro- zone CPI.

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 10:00 EUR EUR Euro-Zone Consumer Price Index Core (YoY)
Fri 10:00 EUR EUR Euro-Zone Consumer Price Index (YoY)
Fri 10:00 EUR EUR Euro-Zone Consumer Price Index (MoM)
Fri 10:00 EUR EUR Euro-Zone Labour Costs (YoY)
Fri 12:30 USD USD Housing Starts
Fri 12:30 USD USD Housing Starts (MoM)
Fri 12:30 USD USD Building Permits
Fri 12:30 USD USD Building Permits (MoM)
Fri 13:15 USD USD Industrial Production (MoM)
Fri 13:15 USD USD Manufacturing (SIC) Production
Fri 13:15 USD USD Capacity Utilization
Fri 14:00 USD USD JOLTS Job Openings
Fri 14:00 USD USD Revisions: JOLTS
Fri 14:00 USD USD U. of Mich. Sentiment
Fri 14:00 USD USD U. of Mich. Current Conditions
Fri 14:00 USD USD U. of Mich. Expectations
Fri 14:00 USD USD U. of Mich. 1 Yr Inflation
Fri 14:00 USD USD U. of Mich. 5-10 Yr Inflation
Fri 17:00 USD USD Baker Hughes U.S. Rig Count

Foreign Exchange Rates

GBP / USD 1.39631
GBP / EUR 1.13221
EUR / USD 1.23254
GBP / AUD 1.79121
GBP/ CAD 1.82332
GBP / CHF 1.32538
GBP / CZK 28.7958
GBP/ DKK 8.43523
GBP/ HKD 10.94957
GBP/ INR 90.5979
GBP/ JPY 147.564
GBP / MUR 45.79
GBP/ NOK 10.75297
GBP/ NZD 1.92430
GBP/ PLN 4.77461
GBP/ SEK 11.42044
GBP/ SGD 1.83251
GBP/ THB 43.5433
GBP/ TRY 5.46670
GBP/ ZAR 16.64960

*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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