Sterling is up this morning after a surprise jump in the RICS house price balance overnight. Consensus was for a flat reading but the survey actually surged by 10.7%, a sign of an improving housing sector that will be very welcome to all those who have seen the value of their own bricks and mortar tumble in recent months.
Price action was fairly muted yesterday as a lack of data and low volume on equity markets kept large moves in check. GBP was lower against both the euro and dollar in the session as profit takers swooped on a pound at the top of its trading range.
It is a large of day of data today as well with tier 1 news from the US, UK and Europe. UK CPI has surprised to the upside for the past 14 of 16 months and continued stickiness would give sterling a shot in the arm in the belief that the Bank of England will be moved to raise interest rates sooner than originally thought.
German ZEW may counter any GBP strength however as a strong expectation of further improvements in the German economy will likely bolster the euro during trade. Alongside this we have retail sales from the US which should, if improved, give risky assets a nice boost.
You can also follow us live on Twitter at http://twitter.com/World_First
|
Latest Exchange Rates At Time Of Writing
|
|
Indicative Rates
|
Sell
|
Buy
|
|
GBP/EUR
|
1.1357
|
1.1383
|
|
GBP/USD
|
1.6601
|
1.6626
|
|
EUR/USD
|
1.4601
|
1.4621
|
|
GBP/JPY
|
151.21
|
151.54
|
|
GBP/AUD
|
1.9273
|
1.9317
|
|
GBP/NZD
|
2.3623
|
2.3657
|
|
GBP/CAD
|
1.7960
|
1.8018
|
|
NZD/USD
|
0.7016
|
0.7036
|
|
GBP/ZAR
|
12.39
|
12.44
|
|
USD/ZAR
|
7.45
|
7.49
|
|
GBP/PLN
|
4.7238
|
4.7528
|
|
EUR/JPY
|
133.00
|
133.26
|
|
Rates are dependent on amount transacted. Please call 0207 801 9080 for a live rate quote.
|
|
|
|
|
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.
To view any past or present currency blogs please click on the following link www.worldfirst.com/blog.
|
|
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.
Please click here if you would like to stop receiving the World First Morning Update.
|
|
Leave a Reply