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Foreign Exchange Daily Market Update 28/03/18

Wed, March 28, 2018

There’s a Year Until Brexit.

Britain’s retailers have been particularly exposed to the slump in sterling, which pushed up sourcing costs for an industry that heavily dependent on imports. The noticeable rise in food prices also hit consumer spending power. That came at a challenging time as wages increased and the sales shifted from stores to online.

But the U.K. has a plan set for when to leave the customs union that could have the greatest implications, with high risks to disrupt the importing of £22 billion worth of fish, meat, dairy products, fruit and vegetables. 

A big event coming up this week, U.S. personal income and spending data for February are due to be released on Thursday, $89 billion of U.S. bill sales for Thursday.

The euro fell 0.5%to $1.2376, the biggest fall in a week. The British pound rose 0.1% to $1.4167.  The Japanese Yen has also decreased by 0.3% to $105.63. However, the South Korean Won increased 1%, the strongest in a week on the largest climb in three weeks.

 

Data to look out today.  

13:15  USD ADP Employment Change

15:00 USD ISM Non-Manufacturing Composite

 

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 EUR 06:00 EUR German GfK Consumer Confidence
WED GBP 08:30 GBP BOE Agents Summary of Business Conditions.
WED GBP 10:00 GBP CBI Reported Sales
WED GBP 10:00 GBP CBI Total Dist. Reported Sales
WED USD 11:00 USD MBA Mortgage Applications
WED USD 12:30 USD Advance Goods Trade Balance
WED USD 12:30 USD Wholesale Inventories (MoM)
WED USD 12:30 USD Gross Domestic Product Annualized (QoQ)
WED USD 12:30 USD Personal Consumption
WED USD 12:30 USD Gross Domestic Product Price Index
WED USD 12:30 USD Retail Inventories (MoM)
WED USD 12:30 USD Core PCE (QoQ)
WED USD 14:00 USD Pending Home Sales (MoM)
WED USD 14:00 USD Pending Home Sales (YoY)
WED USD 14:30 USD DOE U.S. Crude Oil Inventories
WED USD 14:30 USD DOE Cushing OK Crude Inventory
WED USD 14:30 USD DOE U.S. Gasoline Inventories
WED USD 14:30 USD DOE U.S. Distillate Inventory
WED USD 15:30 USD U.S. to Sell USD15 Bln 2-Year Floating Rate Notes Reopening
WED USD 16:00 USD Fed's Bostic Speaks to Finance Professionals in Atlanta
WED USD 17:00 USD U.S. to USD29 Bln Sell 7-Year Notes
WED GBP 23:01 GBP GfK Consumer Confidence
WED GBP 23:01 GBP Lloyds Business Barometer

Foreign Exchange Rates

GBP / USD 1.41720
GBP / EUR 1.14250
EUR / USD 1.24038
GBP / CAD 1.82869
GBP / AUD 1.84947
GBP / CHF 1.34529
GBP / CZK 29.1037
GBP / DKK 8.51265
GBP / HKD 11.1205
GBP / INR 92.1187
GBP / JPY 149.549
GBP / MUR 46.8384
GBP / NOK 10.9939
GBP / NZD 1.95379
GBP / PLN 4.81064
GBP / SEK 11.7387
GBP / SGD 1.85422
GBP / THB 44.2396
GBP / TRY 5.66470
GBP / ZAR 16.5670

*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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