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Foreign Exchange Daily Market Update 30/08/18

Thu, August 30, 2018

Pound rises to a 3-week high as EU chief negotiator says a unique deal on Brexit.

Sterling rallied above $1.30 as analysis became more optimistic on the chances of a Brexit deal before the U.K. exits the EU in March.

Sterling rose to its strongest level in three weeks as the chief negotiator Michel Barnier, said the EU was prepared to offer Britain an unprecedented partnership, different from that with any third country.

This could be the best, even though it’s early days.  It could still easily go further as the market was very much becoming used to a no-deal Brexit. Hence anything positive or anything that dampens such fears triggers position squaring.

The market had been increasingly price in, of the risk that Britain could leave the EU without a deal, leaving sterling headed for its fifth monthly loss. It seems more positive after British politicians have increasingly been talking of the prospects of no deal

The pound gained as much as 1.1% to $1.3008, the strongest level since Aug. 6.  Sterling strengthened to 1.112 against the Euro.  

 

Data to look out today.   

13:30 USD initial Jobless claims.

 

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
THURS 06:00 EUR EUR German Import Price Index (MoM)
THURS 06:00 EUR EUR German Import Price Index (YoY)
THURS 07:55 EUR EUR German Unemployment Change (000's)
THURS 07:55 EUR EUR German Unemployment Claims Rate s.a.
THURS 08:30 GBP GBP Net Consumer Credit
THURS 08:30 GBP GBP Net Lending Sec. on Dwellings
THURS 08:30 GBP GBP Mortgage Approvals
THURS 08:30 GBP GBP Money Supply M4 (MoM)
THURS 08:30 GBP GBP M4 Money Supply (YoY)
THURS 08:30 GBP GBP M4 Ex IOFCs 3M Annualised
THURS 09:00 EUR EUR Euro-Zone Economic Confidence
THURS 09:00 EUR EUR Euro-Zone Business Climate Indicator
THURS 09:00 EUR EUR Euro-Zone Industrial Confidence
THURS 09:00 EUR EUR Euro-Zone Services Confidence
THURS 09:00 EUR EUR Euro-Zone Consumer Confidence
THURS 12:00 EUR EUR German Consumer Price Index (MoM)
THURS 12:00 EUR EUR German Consumer Price Index (YoY)
THURS 12:30 USD USD Personal Consumption Expenditure Core (YoY)
THURS 12:30 USD USD Personal Income
THURS 12:30 USD USD Personal Spending
THURS 12:30 USD USD Initial Jobless Claims
THURS 12:30 USD USD Continuing Claims
THURS 12:30 USD USD Real Personal Spending
THURS 12:30 USD USD Personal Consumption Expenditure Deflator (MoM)
THURS 12:30 USD USD Personal Consumption Expenditure Deflator (YoY)
THURS 12:30 USD USD Personal Consumption Expenditure Core (MoM)
THURS 14:30 USD USD EIA Working Natural Gas Implied Flow
THURS 14:30 USD USD EIA Natural Gas Storage Change
THURS 23:01 GBP GBP GfK Consumer Confidence
THURS 23:01 GBP GBP Lloyds Business Baromete

Foreign Exchange Rates

GBP / USD 1.29970
GBP / EUR 1.11191
EUR / USD 1.16823
GBP / AUD 1.78225
GBP / CAD 1.68057
GBP / CHF 1.26027
GBP / CZK 28.6140
GBP / DKK 8.29167
GBP / HKD 10.20057
GBP / INR 91.9382
GBP / JPY 144.961
GBP / MUR 44.12
GBP / NOK 10.81304
GBP / NZD 1.95142
GBP / PLN 4.77106
GBP / SEK 11.85181
GBP / SGD 1.77573
GBP / THB 42.49666
GBP / TRY 8.31959
GBP / ZAR 18.98715

*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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