Foreign Exchange Daily Market Update 25/10/18

Thu, October 25, 2018

Pound slides to six-week low as Theresa May addresses lawmakers.

Sterling weakened to a six-week low yesterday just Theresa May was due to meet Tory lawmakers, some of whom have discussed ousting her in anger at her Brexit negotiations.

The PM is seeking to win over lawmakers in her own party who oppose her approach to Brexit negotiations, with just over five months before the UK leaves the European Union.

The possibility of a leadership challenge and politics scuppering an agreement with the EU has weakened the pound this week.

A clash on the fall-back plan for the border between Northern Ireland and Ireland is the main sticking point.

The pound fell to on Wednesday to $1.2882 against the dollar, its lowest since Sept. 10, and traded down half a percent. against a weaker euro, the pound fell to €1.1292 from €1.1339.



Data to look out today.   

12:45 EUR Bank Rate Decision.

13:30 USD Durable good, and Initial Jobless claims.






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

Data Releases

Day Time Currency Event
THURS 06:00 EUR EUR German GfK Consumer Confidence
THURS 08:00 EUR EUR German IFO Business Climate
THURS 08:00 EUR EUR German IFO Expectations
THURS 08:00 EUR EUR German IFO Current Assessment
THURS 11:45 EUR EUR European Central Bank Rate Decision
THURS 11:45 EUR EUR ECB Marginal Lending Facility
THURS 11:45 EUR EUR ECB Deposit Facility Rate
THURS 12:30 USD USD Advance Goods Trade Balance
THURS 12:30 USD USD Durable Goods Orders
THURS 12:30 USD USD Durables Ex Transportation
THURS 12:30 USD USD Cap Goods Orders Nondef Ex Air
THURS 12:30 USD USD Cap Goods Ship Nondef Ex Air
THURS 12:30 USD USD Wholesale Inventories (MoM)
THURS 12:30 USD USD Retail Inventories (MoM)
THURS 12:30 USD USD Initial Jobless Claims
THURS 12:30 USD USD Continuing Claims
THURS 14:00 USD USD Pending Home Sales (MoM)
THURS 14:00 USD USD Pending Home Sales (YoY)
THURS 14:30 USD USD EIA Working Natural Gas Implied Flow
THURS 14:30 USD USD EIA Natural Gas Storage Change
THURS 15:00 USD USD Kansas City Fed Manf Activity
THURS 17:00 USD USD U.S. to Sell 7-Year Notes

Foreign Exchange Rates

GBP / USD 1.28960
GBP / EUR 1.13027
EUR / USD 1.14046
GBP / AUD 1.82370
GBP / CAD 1.67433
GBP / CHF 1.28663
GBP / CZK 29.2002
GBP / DKK 8.43391
GBP / HKD 10.11136
GBP / INR 94.4086
GBP / JPY 144.832
GBP / MUR 44.30
GBP / NOK 10.74189
GBP / NZD 1.97702
GBP / PLN 4.87289
GBP / SEK 11.74704
GBP / SGD 1.77692
GBP / THB 42.4592
GBP / TRY 7.35342
GBP / ZAR 18.78238

*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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