Foreign Exchange Daily Market Update 21/03/19

Thu, March 21, 2019

Pound slides to one-week low as Theresa May looks for Brexit delay.

Sterling slipped to a one-week low after Theresa May confirmed she would only ask for a three-month delay to the Brexit deadline and reports suggested the EU may not back her request.

The Prime Minster told Parliament that she was sticking to her plan to avoid a long delay to the Britain’s departure from the EU. Jean-Claude Juncker the European Commission President is reportedly warning May against including a date for the extension that is after the May 23-26 EU elections.  It is not a given the EU will grant the extension.

With just nine days to go, The Prime Minster has been blocked from bringing her Brexit plan before lawmakers again without substantial changes.

The potential outcomes from here range from a delay to an approval of May’s plan. A delay would keep the sterling as it is between $1.30 and $1.35.  A vote in favour of her proposal could send the pound rallying more than 10% to $1.45., he said.

The Pound fell to $1.3162 this morning from 1.323 against the dollar. Sterling slipped to 1.1532 against the Euro.


Data to look out today.   

09:30 GBP Retail sales.

12:00 GBP Bank of England Bank rate  





KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex

Data Releases

Day Time Currency Event
THURS 09:00 EUR EUR ECB Publishes Economic Bulletin
THURS 09:30 GBP GBP Public Finances (PSNCR) (Pounds)
THURS 09:30 GBP GBP Central Government NCR
THURS 09:30 GBP GBP Public Sector Net Borrowing
THURS 09:30 GBP GBP PSNB ex Banking Groups
THURS 09:30 GBP GBP Retail Sales Ex Auto Fuel (MoM)
THURS 09:30 GBP GBP Retail Sales Ex Auto Fuel (YoY)
THURS 09:30 GBP GBP Retail Sales Inc Auto Fuel (MoM)
THURS 09:30 GBP GBP Retail Sales Inc Auto Fuel (YoY)
THURS 12:00 GBP GBP Bank of England Bank Rate
THURS 12:00 GBP GBP BOE Corporate Bond Target
THURS 12:00 GBP GBP BOE Asset Purchase Target
THURS 12:30 USD USD Philadelphia Fed Business Outlook
THURS 12:30 USD USD Initial Jobless Claims
THURS 12:30 USD USD Continuing Claims
THURS 14:00 USD USD Leading Index
THURS 14:30 USD USD EIA Working Natural Gas Implied Flow
THURS 15:00 EUR EUR Euro-Zone Consumer Confidence
THURS 15:30 USD USD U.S. to Sell 4-Week Bills
THURS 15:30 USD USD U.S. to Sell 8-Week Bills
THURS 17:00 USD USD U.S. to Sell USD11 Bln 10-Year TIPS Reopening

Foreign Exchange Rates

GBP / USD 1.31514
GBP / EUR 1.15474
EUR / USD 1.13969
GBP / AUD 1.84250
GBP / CAD 1.75092
GBP / CHF 1.3077
GBP / CZK 29.5781
GBP / DKK 8.61326
GBP / HKD 10.35863
GBP / INR 90.2264
GBP / JPY 145.358
GBP / MUR 42.11
GBP / NOK 11.08409
GBP / NZD 1.90306
GBP / PLN 4.94789
GBP / SEK 12.02366
GBP / SGD 1.77498
GBP / THB 41.6629
GBP / TRY 7.17512
GBP / ZAR 18.65538

*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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