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Foreign Exchange Daily Market Update 16/04/18

Mon, April 16, 2018

Pound rises and benefit from Geopolitical.

Sterling rose last week as Donald Trump’s tweets along with the March European Central Bank has weakened the dollar and euro. This week, many analyses are saying the pound could continue to benefit from global geopolitical tensions, although U.K. data may pull it in the opposite direction.

Sterling is looking pretty good, although it does have to get through the U.K. earnings and CPI data in the coming week. These are perhaps the most important numbers in the month right now, given the upcoming Bank of England meeting.

The market could see a drop after manufacturing and industrial production figures last week didn’t meet expectation. This main data to look out for this week will be jobs data, inflation and retail sales

If wage growth is less than expected, it’s unlikely to affect the expectation of a May interest-rate hike but halt a second hike in November, this would cause sterling’s recent strength to wobble.

Brexit is also back on the agenda, with the U.K. and EU meeting for the first time to discuss their future trade relationship. With the transition deal agreed last month Brexit is no longer the top agenda, the Irish border is still an issue, which the two sides are due to discuss Wednesday.

The threat of further military intervention in Syria may help sterling after the U.K. authorized air strikes with the U.S. and France over the weekend. Theresa May will address Parliament today about the strikes

The Pound rose to $1.43 this afternoon, against the dollar. It jumped to 1.1562 against the Euro.


Data to look out today.   

13:30 USD Retail sale.





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Data Releases

Day Time Currency Event
MON 06:00 EUR EUR German Wholesale Price Index (MoM)
MON 06:00 EUR EUR German Wholesale Price Index (YoY)
MON 12:30 USD USD Empire Manufacturing
MON 12:30 USD USD Retail Sales Advance (MoM)
MON 12:30 USD USD Retail Sales Ex Auto (MoM)
MON 12:30 USD USD Retail Sales Ex Auto and Gas
MON 12:30 USD USD Retail Sales Control Group
MON 14:00 USD USD Business Inventories
MON 14:00 USD USD NAHB Housing Market Index
MON 15:30 USD USD U.S. to Sell USD 48Bln 3-Month Bills
MON 15:30 USD USD U.S. to Sell USD 42Bln 6-Month Bills
MON 16:00 USD USD Fed's Kaplan Speaks at International Economic Forum
MON 16:00 USD USD Fed's Kashkari Discusses Too Big to Fail in Washington
MON 17:15 USD USD Fed's Bostic Speaks on the Economy and Rural Market Trends
MON 20:00 USD USD Total Net TIC Flows
MON 20:00 USD USD Net Long-term TIC Flows

Foreign Exchange Rates

GBP / USD 1.4298
GBP / EUR 1.15605
EUR / USD 1.23758
GBP / CAD 1.80356
GBP / AUD 1.84016
GBP / CHF 1.3738
GBP / CZK 29.21436
GBP / DKK 8.614263
GBP / HKD 11.23091
GBP / INR 93.5935
GBP / JPY 153.495
GBP / MUR 47.64
GBP / NOK 11.0937
GBP / NZD 1.94802
GBP / PLN 4.81086
GBP / SEK 12.03010
GBP / SGD 1.875909
GBP / THB 44.2292
GBP / TRY 5.88178
GBP / ZAR 17.2613

*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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