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Foreign Exchange Daily Market Update 06/08/18

Mon, August 06, 2018

Sterling will look to U.K. data in hope to revive it.

The decreasing pound may need a bolt of positive U.K. data to help it recover from its losing run against the dollar.

Analysis will hope that data due out this week will give evidence of a strong economy and will help boost the pound. Sterling fell below $1.30 for the first time in seven weeks.  Many see Mark Carney’s comment that a chance of a no-deal Brexit was “uncomfortably high.

Analysis will turn their attention to gross domestic product, industrial production and trade data due Friday. The U.K. economy grew 0.4% in the second quarter. However, developments surrounding Brexit and possible escalation in the trade war between the U.S. and China could weigh down any sterling gains.

Sterling hovered close to $1.30 on Friday after falling to $1.2976, the lowest since July 19. It posted its fourth straight weekly decline against the dollar, its longest losing streak since January 2015. The pound fell to 1.1195 against the euro.

  • Focus turns to growth and industrial production figures.
  • Brexit and escalating trade war may hamper gains in sterling.

 

 Australia, Canada, Spain and India are all closed today due to national bank holidays

 

Data to look out today.   

Not much data due out today.

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
MON 06:00 EUR EUR German Factory Orders (MoM)
MON 06:00 EUR EUR German Factory Orders n.s.a. (YoY)
MON 07:30 EUR EUR Markit Germany Construction PMI
MON 08:00 GBP GBP New Car Registrations (YoY)
MON 08:30 EUR EUR Euro-Zone Sentix Investor Confidence
MON 15:30 USD USD U.S. to Sell 3-Month Bills
MON 15:30 USD USD U.S. to Sell 6-Month Bills
MON 23:01 GBP GBP BRC Sales Like-For-Like (YoY)

Foreign Exchange Rates

GBP / USD 1.29270
GBP / EUR 1.12106
EUR / USD 1.15255
GBP / AUD 1.75297
GBP / CAD 1.68526
GBP / CHF 1.28998
GBP / CZK 28.7346
GBP / DKK 8.35396
GBP / HKD 10.14683
GBP / INR 88.9295
GBP / JPY 144.104
GBP / MUR 44.21
GBP / NOK 10.6786
GBP / NZD 1.92016
GBP / PLN 4.76177
GBP / SEK 11.54738
GBP / SGD 1.77913
GBP / THB 43.1212
GBP / TRY 6.68440
GBP / ZAR 17.36729

*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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