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Foreign Exchange Daily Market Update 18/07/18

Wed, July 18, 2018

Pound falls to a 10-Month Low.

Sterling fell to its weakest level in 10 months as U.K. inflation unexpectedly held steady, making many analyses cautious on the case for an imminent rate hike.

Consumer prices rose 2.4% in June from the previous year, less than the 2.6% expected. This has increases the feeling that the BOE will increase the benchmark rate.

Sterling is caught in a battle between expectations that the central bank will tighten and political turmoil that has surrounded Theresa May’s government.

There could be further political risk as May faces the weekly questions in the Commons. This will be followed by the resignation speech of former Foreign Secretary Boris Johnson, who quit last week over May’s Brexit strategy.

Sterling fell as much as 0.9% to $1.3024 against the dollar, the lowest since September 2017. It weakened 0.3% to 1.1205 against the Euro.

 

  • Consumer prices rose 2.4%

 

Data to look out today.   

14:00 USD Fed Chairman Powell appears before House panel.  

 

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 08:30 GBP GBP CPIH (YoY)
WED 08:30 GBP GBP Consumer Price Index (MoM)
WED 08:30 GBP GBP Consumer Price Index (YoY)
WED 08:30 GBP GBP Core Consumer Price Index (YoY)
WED 08:30 GBP GBP Retail Price Index
WED 08:30 GBP GBP Retail Price Index (MoM)
WED 08:30 GBP GBP Retail Price Index (YoY)
WED 08:30 GBP GBP Retail Price Index Ex Mort Int.Payments (YoY)
WED 08:30 GBP GBP Producer Price Index Input n.s.a. (MoM)
WED 08:30 GBP GBP Producer Price Index Input n.s.a. (YoY)
WED 08:30 GBP GBP Producer Price Index Output n.s.a. (MoM)
WED 08:30 GBP GBP Producer Price Index Output n.s.a. (YoY)
WED 08:30 GBP GBP Producer Price Index Output Core n.s.a. (MoM)
WED 08:30 GBP GBP Producer Price Index Output Core n.s.a. (YoY)
WED 08:30 GBP GBP House Price Index (YoY)
WED 09:00 EUR EUR Euro-Zone Construction Output s.a. (MoM)
WED 09:00 EUR EUR Euro-Zone Construction Output w.d.a. (YoY)
WED 09:00 EUR EUR Euro-Zone Consumer Price Index Core (YoY)
WED 09:00 EUR EUR Euro-Zone Consumer Price Index (YoY)
WED 09:00 EUR EUR Euro-Zone Consumer Price Index (MoM)
WED 11:00 USD USD MBA Mortgage Applications
WED 12:30 USD USD Housing Starts
WED 12:30 USD USD Housing Starts (MoM)
WED 12:30 USD USD Building Permits
WED 12:30 USD USD Building Permits (MoM)
WED 14:00 USD USD Fed Chairman Powell Appears Before House Panel
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 U.S. Federal Reserve Releases Beige Book

Foreign Exchange Rates

GBP / USD 1.3023
GBP / EUR 1.12119
EUR / USD 1.17359
GBP / AUD 1.77058
GBP / CAD 1.725204
GBP / CHF 1.3232
GBP / CZK 28.9646
GBP / DKK 8.35596
GBP / HKD 10.22029
GBP / INR 89.2495
GBP / JPY 147.174
GBP / MUR 44.40
GBP / NOK 10.64377
GBP / NZD 1.92566
GBP / PLN 4.83077
GBP / SEK 11.54291
GBP / SGD 1.78513
GBP / THB 43.4481
GBP / TRY 6.24167
GBP / ZAR 17.35129

*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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