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Foreign Exchange Daily Market Update 14/07/2017

Fri, July 14, 2017

Pound Battles Back From 8 Month Low

This week we have seen the GBP/EUR exchange rate plummet through a significant support level at 1.13, hit an 8-month low of 1.1182, and then recover those losses.

BOE deputy governor Broadbent helped push sterling down to 1.1180 earlier this week when he stated he is not ready to raise interest rates. The Pound recovered following better than expected labour market data. The pound reached a high of 1.1369.

The Pound's slow increase versus the Dollar this morning has regained momentum in the last few hours with sterling pushing towards the 1.2970 mark. US inflation data this afternoon could help send the Pound above $1.30 if the result proves disappointing for the US.

The pound rose to 1.1363 against the Euro and 1.2967 against the Dollar.

Data to look out for today.

13:30: USD Consumer Price Index

13:30: USD Advanced Retail Sale

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 06:00 EUR EUR EU 25 New Car Registrations
FRI 09:00 EUR EUR Euro-Zone Trade Balance s.a. (euros)
FRI 09:00 EUR EUR Euro-Zone Trade Balance (euros)
FRI 12:30 USD USD Consumer Price Index (MoM)
FRI 12:30 USD USD Consumer Price Index Ex Food & Energy (MoM)
FRI 12:30 USD USD Consumer Price Index (YoY)
FRI 12:30 USD USD Consumer Price Index Ex Food & Energy (YoY)
FRI 12:30 USD USD Consumer Price Index Core Index s.a.
FRI 12:30 USD USD Consumer Price Index n.s.a.
FRI 12:30 USD USD Real Avg Weekly Earnings (YoY)
FRI 12:30 USD USD Real Avg Hourly Earning (YoY)
FRI 12:30 USD USD Advance Retail Sales (MoM)
FRI 12:30 USD USD Retail Sales Less Autos (MoM)
FRI 12:30 USD USD Retail Sales Ex Auto and Gas
FRI 12:30 USD USD Retail Sales Control Group
FRI 13:15 USD USD Industrial Production
FRI 13:15 USD USD Capacity Utilization
FRI 13:15 USD USD Manufacturing (SIC) Production
FRI 13:30 USD USD Fed's Kaplan Speaks in Mexico City
FRI 14:00 USD USD U. of Michigan Confidence
FRI 14:00 USD USD U. of Mich. Current Conditions
FRI 14:00 USD USD U. of Mich. Expectations
FRI 14:00 USD USD U. of Mich. 1 Yr Inflation
FRI 14:00 USD USD U. of Mich. 5-10 Yr Inflation
FRI 14:00 USD USD Business Inventories
FRI 17:00 USD USD Baker Hughes U.S. Rig Count

Foreign Exchange Rates

GBP/USD 1.2968
GBP/EUR 1.1360
EUR/USD 1.1407
GBP/AUD 1.6718
GBP/CAD 1.6515
GBP/CHF 1.2564
GBP/CZK 29.6621
GBP/DKK 8.4510
GBP/HKD 10.1313
GBP/INR 83.92
GBP/JPY 146.81
GBP/ NOK 10.6741
GBP/ NZD 1.7766
GBP/PLN 4.7966
GBP/ SEK 10.8336
GBP/ SGD 1.7830
GBP/THB 43.94
GBP/TRY 4.6282
GBP/ ZAR 17.1038
GBP/AED 4.7655

*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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