Foreign Exchange - UK Daily Update - Written by jeremy on Friday, March 20, 2009 8:13 - 0 Comments
All this and more is available on our video blog at http://uk.youtube.com/user/WorldFirstJC
What a day. The market continued to mark down the US dollar against most of its trading partners as the huge amount of US quantative easing really sunk in. EUR/USD found itself in the 1.37s for the first time since the beginning of the January with GBP/USD pushing to a 7 week high
The data that posed a risk to this bullish sterling move was brushed aside fairly unequivocally in afternoon trade. Initial Jobless Claims fell slightly althouth continuing claims rose by 150k while Philly Fed Manufacturing moved to -35 from -41.3 in Feb.
Risk lovers enjoyed the Fed’s QE announcement and pushed equity markets higher. Bank shares did particularly well with Lloyds, Barclays and RBS all surging higher by more than 10%.
The only real piece of tier 1 data today is European Industrial Production which is set to fall to -4.0% from -2.6% in Jan
All this and more is available on our video blog at http://uk.youtube.com/user/WorldFirstJC
|
Indicative Rates |
||
|
|
Sell |
Buy |
|
GBPEUR |
1.0615 |
1.0641 |
|
GBPUSD |
1.4547 |
1.4573 |
|
EURUSD |
1.3687 |
1.3711 |
|
GBPJPY |
137.14 |
137.47 |
|
GBPAUD |
2.1028 |
2.1085 |
|
GBPNZD |
2.5871 |
2.5950 |
|
GBPCAD |
1.7955 |
1.8028 |
|
NZDUSD |
0.5602 |
0.5628 |
|
GBPZAR |
14.06 |
14.12 |
|
USDZAR |
9.66 |
9.71 |
|
GBPPLN |
4.9513 |
4.9866 |
|
EURJPY |
129.09 |
129.38 |
|
Rates are dependent on amount transacted |
||
Please feel free to contact me (jeremy.cook@worldfirst.com) if you have any questions or thoughts regarding these updates or if you are interested in a particular event in the calendar. If you would like to discuss your foreign exchange requirements, please contact our: Corporate Foreign Exchange Team on 020 7801 9050 or our Private Client Currency Exchange Team on 020 7801 9080. Disclaimer: The above comments are only our views and should not be construed as advice. You should act using your own information and judgement. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Any rates given are “interbank” i.e. for amounts of £5million and thus are not indicative of rates offered by World First for smaller amounts. E&OE. Definitions of jargon/market terms can be found in our Glossary of Foreign Exchange Terms.
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