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Foreign Exchange Daily Market Update 21/03/2018

Wed, March 21, 2018

Inflation growth slows more than predicted.

Inflation in the UK fell more in February than had been expected as the impact of the pound’s post-Brexit referendum slide decreased.

Consumer prices rose 2.7% from last year, down from 3% in January. Analysis are predicting an increase of 2.8%, the core inflation rate gained 2.4%.

The central bank is expected to raise rates as early as May among signs of strengthening domestically generated price growth. Many economists see a 9-0 vote for unchanged policy on Thursday before the central bank increases rates at their meeting.

Consumers will welcome the news as they have seen rising prices eat into their spending power over the past year. Policy makers will also be keeping an eye on wages, which is expected to have picked up to 2.6% in January.

A small fall in petrol prices alongside food prices rising more slowly than last year helped pull down inflation, said the head of CPI. Upward pressure on prices came from clothing and footwear. Annual input prices gain also eased, increasing 3.4% the lowest since the Brexit referendum in June 2016.

Producer prices rose 2.6% compared to last year, the least since 2016.

House price growth slowed to 4.9%in January.

The pound dropped after the report to $1.4018 yesterday morning against the dollar. Sterling fell to 1.1434 against the euro.

  • Consumer prices increase annual 2.7% vs estimated 2.8%


Data to look out today.  

9:30    GBP Jobless Claims Charge.                   

14:00  USD Existing Homes Sales.         

18:00  USD FOMC Rate Decision.          


Japan: will be closed due national holiday: Vernal Equinox Day





KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex

Data Releases

Day Time Currency Event
WED 09:30 GBP GBP Claimant Count Rate
WED 09:30 GBP GBP Jobless Claims Change
WED 09:30 GBP GBP Average Weekly Earnings (3M/YoY)
WED 09:30 GBP GBP Weekly Earnings ex Bonus (3M/YoY)
WED 09:30 GBP GBP ILO Unemployment Rate 3Mths
WED 09:30 GBP GBP Employment Change 3M/3M
WED 09:30 GBP GBP Public Finances (PSNCR) (Pounds)
WED 09:30 GBP GBP Central Government NCR
WED 09:30 GBP GBP Public Sector Net Borrowing
WED 09:30 GBP GBP PSNB ex Banking Groups
WED 11:00 GBP GBP CBI Trends Total Orders
WED 11:00 GBP GBP CBI Trends Selling Prices
WED 11:00 USD USD MBA Mortgage Applications
WED 12:30 USD USD Current Account Balance
WED 14:00 USD USD Existing Home Sales
WED 14:00 USD USD Existing Home Sales (MoM)
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 18:00 USD USD FOMC Rate Decision (Upper Bound)
WED 18:00 USD USD FOMC Rate Decision (Lower Bound)
WED 18:30 USD USD Fed Chair Jerome Powell News Conference
WED EUR EUR EU Leaders Meet in Brussels

Foreign Exchange Rates

GBP / USD 1.40634
GBP / EUR 1.14518
EUR / USD 1.22722
GBP / AUD 1.82937
GBP/ CAD 1.83424
GBP / CHF 1.34136
GBP / CZK 29.1061
GBP/ DKK 8.52816
GBP/ HKD 11.02791
GBP/ INR 91.6149
GBP/ JPY 149.449
GBP / MUR 45.96
GBP/ NOK 10.88051
GBP/ NZD 1.96002
GBP/ PLN 4.85352
GBP/ SEK 11.53994
GBP/ SGD 1.85313
GBP/ THB 43.9034
GBP/ TRY 5.53279
GBP/ ZAR 16.86991

*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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