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Foreign Exchange Daily Market Update 17/05/2017

Wed, May 17, 2017

Unemployment Falls To Lowest Level Since 1975

U.K. workers saw their real earnings fall in the first quarter for the first time since late 2014, despite unemployment falling to its lowest in more than 40 years.

Regular pay adjusted for inflation declined 0.2%. Nominal earnings slowed to growth of 2.1%, the lowest since September. The unemployment rate fell to 4.6%, the lowest since 1975.

Employment rose 122,000 to a record 31.9 million after being forecasted at 21,000 and unemployment dropped 53,000 to 1.54 million. Vacancies climbed to a record level and average hours worked remained close to their highest rates since 2002.

The fall in unemployment takes the jobless rate closer to the 4.5% that the BOE expects is the level that can be sustained without generating inflation.

The Pound rose slightly after this Data against both the Euro and the Dollar to 1.1669 & 1.2942.

Data to look out for today.

09:30: GBP Employment Change

09:30: GBP Unemployment Rate

09:30: GBP Average Weekly Earnings

09:30: GBP Jobless Claims Change

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 Claimant Count Rate
WED 08:30 GBP GBP Jobless Claims Change
WED 08:30 GBP GBP Average Weekly Earnings (3M/YoY)
WED 08:30 GBP GBP Weekly Earnings ex Bonus (3M/YoY)
WED 08:30 GBP GBP ILO Unemployment Rate (3M)
WED 08:30 GBP GBP Employment Change (3M/3M)
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 (MoM)
WED 09:00 EUR EUR Euro-Zone Consumer Price Index (YoY)
WED 09:00 EUR EUR Euro-Zone Consumer Price Index - Core (YoY)
WED 11:00 USD USD MBA Mortgage Applications
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 15:00 USD USD New York Fed to Release 1Q Household Debt and Credit Report

Foreign Exchange Rates

GBP/USD 1.2941
GBP/EUR 1.1668
EUR/USD 1.0838
GBP/AUD 1.7486
GBP/CAD 1.7624
GBP/CHF 1.2733
GBP/CZK 30.8687
GBP/DKK 8.6809
GBP/HKD 10.0777
GBP/INR 83.32
GBP/JPY 145.47
GBP/ NOK 10.9555
GBP/ NZD 1.8792
GBP/PLN 4.8923
GBP/ SEK 11.3568
GBP/ SGD 1.8043
GBP/THB 44.66
GBP/TRY 4.6089
GBP/ ZAR 16.9976
GBP/AED 4.7536

*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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