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Foreign Exchange Daily Market Update 21/04/2017

Fri, April 21, 2017

Retail Sales Have Biggest Decline Since 2010

The Pound declined versus the Dollar, paring its biggest weekly rise this year, after data showed retail sales recorded its biggest fall since 2010 in the first quarter.

Sterling fell as the data showed sales fell 1.8% in March alone, far exceeding the 0.5% decline expected. The losses tried to put a stop to a second weekly gain against the Dollar, after the U.K. currency had been boosted by PM Theresa May’s surprise announcement of a snap election on June 8. May’s move was perceived by markets to reduce the prospects of a chaotic exit from the EU.

GBP/USD fell 0.2% to 1.2786, on course for a weekly gain of 2.1%, the biggest since November. GBP/USD reached a more than six-month high on Tuesday.

Data to look out for today.

09:30: GBP Retail Sales

13:45: USD Manufacturing/Services/Composite PMI

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
FRI 07:00 EUR EUR Markit France Composite PMI
FRI 07:00 EUR EUR Markit France Manufacturing PMI
FRI 07:00 EUR EUR Markit France Services PMI
FRI 07:30 EUR EUR Markit Germany Services PMI
FRI 07:30 EUR EUR Markit/BME Germany Manufacturing PMI
FRI 07:30 EUR EUR Markit/BME Germany Composite PMI
FRI 08:00 EUR EUR Euro-Zone Current Account s.a. (euros)
FRI 08:00 EUR EUR Markit Eurozone Manufacturing PMI
FRI 08:00 EUR EUR Markit Eurozone Services PMI
FRI 08:00 EUR EUR Markit Eurozone Composite PMI
FRI 08:00 EUR EUR Euro-Zone Current Account n.s.a. (euros)
FRI 08:30 GBP GBP Retail Sales Inc Auto Fuel (MoM)
FRI 08:30 GBP GBP Retail Sales (YoY)
FRI 08:30 GBP GBP Retail Sales Inc Auto Fuel (YoY)
FRI 08:30 GBP GBP Retail Sales (MoM)
FRI 11:45 GBP GBP BOE's Michael Saunders Speaks at Event in London
FRI 12:30 CAD CAD CPI Core- Median (YoY)%
FRI 13:30 USD USD Fed's Kashkari Participates in Q&A in St. Paul MN
FRI 13:45 USD USD Markit US Services PMI
FRI 13:45 USD USD Markit US Composite PMI
FRI 13:45 USD USD Markit US Manufacturing PMI
FRI 14:00 USD USD Existing Home Sales (MoM)
FRI 14:00 USD USD Existing Home Sales
FRI 17:00 USD USD Baker Hughes U.S. Rig Count

Foreign Exchange Rates

GBP/USD 1.2873
GBP/EUR 1.1947
EUR/USD 1.0686
GBP/AUD 1.7001
GBP/CAD 1.7223
GBP/CHF 1.2771
GBP/CZK 32.2272
GBP/DKK 8.8903
GBP/HKD 9.9432
GBP/INR 82.99
GBP/JPY 139.45
GBP/ NOK 11.0544
GBP/ NZD 1.8255
GBP/PLN 5.1099
GBP/ SEK 11.5119
GBP/ SGD 1.7871
GBP/THB 43.97
GBP/TRY 4.6627
GBP/ ZAR 16.8210
GBP/AED 4.6971

*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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