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Foreign Exchange Daily Market Update 17/04/18

Tue, April 17, 2018

British Businesses do not want a second Brexit Vote.

Many UK businesses have been opposed to the split from the EU, as they have more to lose from the divorce. But as a group of lawmakers tries to engineer a second referendum, business leaders are hesitating. As it prolongs the uncertainty.

A vote on the final divorce deal that the Prime Minister brings back from Brussels later this year is gaining traction. In two recent polls have shown that there may be popular support for a vote on the terms of Brexit. We still do not know if there is a majority in Parliament to send voters back to the ballot box, or if the result would be different the second time around

The agreement last month for a 21 months transition period that’s comes into effect on Brexit Day next March, has encouraged many businesses as them more time to prepare. Corporate uncertainty has fallen to a two-year low and concerns about the effects of leaving the EU on hiring and spending has diminished.

The Pound rose to a post Brexit high of 1.436 against the dollar.  Sterling increased to 1.156 against the Euro.

 

  • U.K. businesses want certainty rather than reversing course
  • Anti-Brexit campaigners want a vote on the final divorce deal

 

Data to look out today.   

09:30 GBP Jobless claims and average weekly earnings.

 

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
TUE 08:30 GBP GBP Claimant Count Rate
TUE 08:30 GBP GBP Jobless Claims Change
TUE 08:30 GBP GBP Average Weekly Earnings (3M/YoY)
TUE 08:30 GBP GBP Weekly Earnings ex Bonus (3M/YoY)
TUE 08:30 GBP GBP ILO Unemployment Rate 3Mths
TUE 08:30 GBP GBP Employment Change 3M/3M
TUE 09:00 EUR EUR German ZEW Survey Current Situation
TUE 09:00 EUR EUR German ZEW Survey Expectations
TUE 09:00 EUR EUR Euro-Zone ZEW Survey (Economic Sentiment)
TUE 12:30 USD USD Housing Starts
TUE 12:30 USD USD Housing Starts (MoM)
TUE 12:30 USD USD Building Permits
TUE 12:30 USD USD Building Permits (MoM)
TUE 13:15 USD USD Fed's Williams Speaks on Economic Outlook at Event in Madrid
TUE 13:15 USD USD Industrial Production (MoM)
TUE 13:15 USD USD Manufacturing (SIC) Production
TUE 13:15 USD USD Capacity Utilization
TUE 14:00 USD USD Fed's Quarles to Testify Before House Financial Services panel
TUE 15:00 USD USD Fed's Harker Speaks on the Economics of Equitable Education
TUE 15:30 USD USD U.S. to Sell 4-Week Bills
TUE 17:10 USD USD Fed's Evans Discusses Economic Outlook

Foreign Exchange Rates

GBP / USD 1.43226
GBP / EUR 1.15658
EUR / USD 1.23893
GBP / CAD 1.79942
GBP / AUD 1.84027
GBP / CHF 1.37729
GBP / CZK 29.2060
GBP / DKK 8.61200
GBP / HKD 11.23091
GBP / INR 93.9427
GBP / JPY 153.274
GBP / MUR 47.64
GBP / NOK 11.13638
GBP / NZD 1.94802
GBP / PLN 4.80891
GBP / SEK 12.04451
GBP / SGD 1.87430
GBP / THB 44.6843
GBP / TRY 5.88178
GBP / ZAR 17.21347

*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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