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Foreign Exchange Daily Market Update 10/04/18

Tue, April 10, 2018

U.S.-China talks halted over tech industry.

Trade talks between the US and China broke down last week after the Trump administration demanded that China take steps to cut back support for high-tech industries, a person familiar with the situation said.

China vice premier Liu He who is overseeing economics and finance, told a group of officials that Beijing had rejected a U.S. request to stop subsidizing industries related to its “Made in China 2025” initiative. The U.S. claim China of using the policy to force companies into transferring technology in areas like robotics, aerospace and artificial intelligence.

The U.S. demands came after Beijing offered to tighten the trade deficit by $50 billion, including by importing more liquefied natural gas, agricultural products, semiconductors and luxury goods. The plans also included opening the financial sector at a faster rate and giving U.S. companies more access to China’s booming e-commerce market.

China’s President said they were ready to fight back hard if U.S. counterpart Donald Trump wanted a trade war. China was open to talks with the U.S. but wouldn’t initiate them under the current conditions.

Trump was optimistic about a deal with China, saying his administration are hopeful the dispute would be resolved as fear of a major economic conflict between the world’s biggest economies.

The Pound rose to 1.415 this morning against the dollar. Sterling jumped to 1.148 against the euro


Data to look out today.   

Not much data due out today.




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

Data Releases

Day Time Currency Event
TUE 08:30 USD USD Fed's Kaplan Speaks in Beijing
TUE 09:30 GBP GBP BOE's Haldane speaks in Melbourne.
TUE 10:00 USD USD NFIB Small Business Optimism
TUE 12:30 USD USD Producer Price Index Final Demand (MoM)
TUE 12:30 USD USD Producer Price Index Ex Food and Energy (MoM)
TUE 12:30 USD USD Producer Price Index Ex Food Energy Trade (MoM)
TUE 12:30 USD USD Producer Price Index Final Demand (YoY)
TUE 12:30 USD USD Producer Price Index Ex Food and Energy (YoY)
TUE 12:30 USD USD Producer Price Index Ex Food Energy Trade (YoY)
TUE 14:00 USD USD Wholesale Trade Sales (MoM)
TUE 14:00 USD USD Wholesale Inventories (MoM)
TUE 15:30 USD USD U.S. to Sell 4-Week Bills
TUE 17:00 USD USD U.S. to Sell USD30 Bln 3-Year Notes

Foreign Exchange Rates

GBP / USD 1.41545
GBP / EUR 1.14887
EUR / USD 1.23153
GBP / CAD 1.79425
GBP / AUD 1.83073
GBP / CHF 1.3533
GBP / CZK 29.094
GBP / DKK 8.55347
GBP / HKD 11.1113
GBP / INR 91.9697
GBP / JPY 151.569
GBP / MUR 47.24
GBP / NOK 11.0627
GBP / NZD 1.92511
GBP / PLN 4.80285
GBP / SEK 11.8181
GBP / SGD 1.85570
GBP / THB 44.1792
GBP / TRY 5.79778
GBP / ZAR 17.0958

*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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