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Foreign Exchange Daily Market Update 21/11/18

Wed, November 21, 2018

BOE Governor Mark Carney says sterling’s volatility will continue throughout Brexit struggles.

Mark Carney the Bank of England Governor said fluctuations in the value of the pound are here to stay if there’s uncertainty about the direction of Brexit.

Speaking for the first time Since Theresa May published her proposed EU withdrawal agreement Carney was addressing U.K. lawmakers. He also said the outlook for monetary policy and interest rates will depend on how Brexit affects supply and demand -- and the currency -- in the coming months.

There will be events that move sterling up and events that move sterling down,” he said. “That will likely continue for the next little while.

The BOE Governor echoed his view that a disorderly Brexit could produce a supply side shock that is relatively rare for advanced economies, pushing prices higher and forcing the central bank to raise interest rates instead of cut them.

The Pound fell to $1.277 this morning against the dollar.  Sterling remained unchanged against the Euro at 1.122.

 

 

Data to look out today.   

10:00 EUR OECD Economic Outlook.

13:30 USD Durables Goods Orders  

 

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 09:00 EUR EUR Istat Releases Economic Forecast for 2018 and 2019
WED 09:30 GBP GBP PSNB ex Banking Groups (OCT)
WED 09:30 GBP GBP Public Sector Net Borrowing (OCT)
WED 09:30 GBR GBP Central Government NCR (OCT)
WED 09:30 GBP GBP Public Finances (PSNCR) (Pounds) (OCT)
WED 10:00 EUR EUR OECD Economic Outlook)
WED 12:00 USD USD MBA Mortgage Applications (NOV 16)
WED 13:30 USD USD Durable Goods Orders (OCT P)
WED 13:30 USD USD Durables Ex Transportation (OCT P)
WED 13:30 USD USD Cap Goods Orders Nondef Ex Air (OCT P)
WED 13:30 USD USD Cap Goods Ship Nondef Ex Air (OCT P)
WED 13:30 USD USD Initial Jobless Claims (NOV 17)
WED 13:30 USD USD Continuing Claims (NOV 10)
WED 15:00 USD USD Leading Index (OCT)
WED 15:00 USD USD Existing Home Sales (OCT)
WED 15:00 USD USD Existing Home Sales (MoM) (OCT)
WED 15:00 USD USD U. of Mich. Sentiment (NOV F)
WED 15:00 USD USD U. of Mich. Current Conditions (NOV F)
WED 15:00 USD USD U. of Mich. Expectations (NOV F)
WED 15:00 USD USD U. of Mich. 1 Yr Inflation (NOV F)
WED 15:00 USD USD U. of Mich. 5-10 Yr Inflation (NOV F)
WED 15:30 USD USD DOE U.S. Crude Oil Inventories (NOV 16)
WED 15:30 USD USD DOE Cushing OK Crude Inventory (NOV 16)
WED 15:30 USD USD DOE U.S. Gasoline Inventories (NOV 16)
WED 15:30 USD USD DOE U.S. Distillate Inventory (NOV 16)
WED 16:30 USD USD U.S. to Sell USD11 Bln 10-Year TIPS Reopening
WED 17:00 USD USD EIA Working Natural Gas Implied Flow (NOV 16)
WED 17:00 USD USD EIA Natural Gas Storage Change (NOV 16)
WED 18:00 USD USD Baker Hughes U.S. Rig Count (NOV 23)

Foreign Exchange Rates

GBP / USD 1.27728
GBP / EUR 1.12170
EUR / USD 1.13860
GBP / AUD 1.76419
GBP / CAD 1.69778
GBP / CHF 1.27083
GBP / CZK 29.1745
GBP / DKK 8.37726
GBP / HKD 10.01133
GBP / INR 90.9906
GBP / JPY 144.439
GBP / MUR 43.52
GBP / NOK 10.91309
GBP / NZD 1.87382
GBP / PLN 4.83089
GBP / SEK 11.57966
GBP / SGD 1.75592
GBP / THB 42.1492
GBP / TRY 6.83842
GBP / ZAR 17.88838

*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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