Friday 30 March 2012

Foreign Exchange Daily Market Update 30/03/12

The Pound declined against the US Dollar again yesterday but managed some gains against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.1937 at the morning’s open to trade in a fairly open range from the day low of 1.1928 and the high of 1.1998, before trading up around 1.1993 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5925 to trade down to the day’s low of 1.5858 before trading back towards 1.5909 by the European market close. The Pound also gained against the New Zealand Dollar and the Australian Dollar in the foreign exchange market yesterday. The GBP/NZD exchange rate picked up from 1.9459 at the morning’s open to trade up towards 1.9554 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.5330 and finished the session higher at 1.5404.

Yesterday on the economic data front we had seen some negative data from the UK, with Mortgage Approvals coming in at 49.0k versus 57.2k expected by economists and Net Lending missed expectations at 1.2bln vs. 1.4bln. However Net Consumer Credit increased for the month of (Feb) from 0.2bln to 0.4bln.

Today we have no scheduled economic data release from the UK.

The Euro continued to decline against the US dollar and also declined against the Pound in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3340 and traded in a downtrend towards the day low of 1.3251, before trading back towards 1.3264 by the European market close.

Yesterday from the Euro-zone we had German Unemployment Rate beat expectations with the rate declining from 6.8% to 6.7% and the Unemployment change came in better at -18K versus -10k expected by economists. However Euro-zone Business Climate Indicator came in worse than expected at -0.30 versus -0.16 and Consumer Confidence also declined slightly to 19.1 from -19.

This Morning German Retail Sales came in much better than expected at 1.7% vs. 0.1%, however it was in line with the prior month of 1.7%. French Producer Prices also should improvement increases from 0.7% to 0.8% for the month-on-month figure.

Today we will look out for the Consumer Price Index Estimate (Mar) due at 10:00 GMT, where economists are expecting a decline from 2.7% to 2.5%.

The US Dollar gained against the Pound and the Euro currencies yesterday. On the economic data front we had seen mixed data from the US, with the Gross Domestic Product data coming in line with expectations at 3.0% for the annualised figure. Continuing Claims came in better than expectations at 3340k vs. 3350k, however Initial jobless claims came in slightly higher than expected at 359k vs. 350k and the previous release was revised from 348k to 364k.

Later today we will be looking out for the US Personal Consumption Expenditure Core (Feb) due at 13:00 GMT, where economists are expecting no change at 1.9%. Also we have the Chicago Purchasing Manager (Mar) due at 14:45 GMT, followed by University of Michigan Confidence (Mar) due at 14:55 GMT.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Thursday 29 March 2012

The Pound declined against the US Dollar and against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.1933 at the morning’s open to trade in an open range from the day low of 1.1908 and the high of 1.1943, before trading back around 1.1920 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5942 to trade down to the day’s low of 1.5840 before trading back towards 1.5853 by the European market close. The Pound also declined against the New Zealand Dollar, but managed to gain against the Australian Dollar in the foreign exchange market yesterday. The GBP/NZD exchange rate picked up from 1.9417 at the morning’s open to trade down towards 1.9412 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.5265 and finished the session higher at 1.5290.

Yesterday on the economic data front we had seen a decline in Gross Domestic Product figures from the UK. The year-on-year figure missed expectations coming in at 0.5% vs 0.7% expected by economists. Quarterly figure was also down at -0.3% vs. -0.2% expected by economists. However Total Business Investment year-on-year was up at 1.6% from -2.0% previously.

This morning Nationwide House Prices n.s.a. year-on-year showed a decline coming in at -0.9% vs. 0.9%. At 09:30 GMT today we will look out for UK Mortgage Approvals (Feb) which is expected to decline from 58.7k to 57.2k, followed by Net Consumer Credit and Net Lending.

The Euro declined against the US dollar, but gained slightly against the Pound in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3357 and traded in an open range between 1.3277 and 1.3374, before trading back towards the 1.3299 level by the European market close.

Yesterday from the Euro-zone we had the release of the French GDP figures, with the year-on-year figure just missing expectations at 1.3% vs. 1.4%, Italian Business Confidence (Mar) increased from 91.7 to 92.1. Also German Consumer Price Index (Mar) declined slightly on the year-on-year figure from 2.3% to 2.2%.

This morning German Unemployment Rate beat expectations with the rate declining from 6.8% to 6.7%, also Unemployment change came in better at -18K vs. -10k expected by economists. Today we will look our for the Euro-zone Consumer confidence due at 10:00 GMT, where economists are expecting no change at -19.

The US Dollar gained against the Pound and the Euro currencies yesterday. On the economic data front we had seen mixed data from the US with the Mortgage Applications coming in better than the prior month at -2.7% vs. -7.4%. Durable Goods come in worse than expected at 2.2% vs. 3.0% but was higher than the prior release of -3.6%.

Later today we will be looking out for the US Gross Domestic Product figures due at 13:30 GMT, where economists are expecting no change at 3.0% for the annualised release. Also we will be looking out for Initial and Continuing claims, where economists are expecting an increase from 348k to 35k for Initial Jobless Claims.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Wednesday 28 March 2012

Foreign Exchange Daily Market Update 28/03/12

The Pound gained slightly against the US Dollar yesterday, but declined fractionaly against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.1977 at the morning’s open to trade in an open range from the day low of 1.1942 and the high of 1.1996, before trading back to 1.1975 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5968 to trade down to the day’s high of 1.56001 before trading back towards 1.5971 by the European market close. The Pound also gained against the Australian Dollar and against the New Zealand Dollar in the foreign exchange market yesterday. The GBP/NZD exchange rate picked up from 1.9369 at the morning’s open to trade up towards 1.9440 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.5160 and finished the session higher at 1.5218.

On the economic data front we had the UK CBI Reported sales for the month of March come in better than expected at 0 vs. -5 and up from -2 from the prior month.

This morning we will look out for the Gross Domestic Product year-on-year due at 09:30 GMT, where economists are expecting no change at 0.7%.

The Euro declined against the US dollar, but gained fractionally against the Pound in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3346 and traded in an open range between 1.3317 and 1.3385, before trading back towards the 1.3336 level by the European market close.

Yesterday from the Euro-zone we had the German GfK Consumer Confidence Survey (APR) come in slightly off the expected figure of 6.0 at 5.9. German Import Price Index also came in better than expected on the month-on-month figure at 1.0% vs. 0.9%, however overall Import Price Index was down from the prior month of 1.3%. Finally French Consumer Confidence Indicator came in much better than expected increasing from 82 to 87.

This morning we have already seen the release of the French GDP figures, with the year-on-year figure just missing expectations at 1.3% vs. 1.4%. We also had the release of the Italian Business Confidence (Mar) which increased from 91.7 to 92.1 and Euro-Zone M3 s.a. (Feb) which come in much better than expected at 2.8% vs 2.4% on the year-on-year figure.

Later today we will see the release of German Consumer Price Index (Mar) due at 13:00 GMT where economists are expecting a slight decline from 2.3% to 2.2%.

The US Dollar declined against the Pound, but managed to gain against the Euro currencies yesterday. On the economic data front we had seen a slight improvement in the S&P Case Shiller 20 City s.a. (Jan) coming in at -0.04% vs. -0.30% expected by economists. US Consumer Confidence also came in better than expected at 70.2 vs. 70 however the figure was still down from the previous 71.6.

Today from the US we have the release MBA Mortgage Applications (Mar 23) due at 12:00 GMT followed by Durable Goods Orders (FeB) due at 13:30 GMT.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Tuesday 27 March 2012

Foreign Exchange Daily Market Update 27/03/12

The Pound gained against the US Dollar yesterday, but declined slightly against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.1965 at the morning’s open to trade in an open range from the day low of 1.1945 and the high of 1.1995, before trading back to 1.1956 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5842 the high of the day to trade down to the day’s low of 1.5799 before trading up towards 1.5938 by the European market close. The Pound also gained against the Australian Dollar and fractionally against the New Zealand Dollar in the foreign exchange market yesterday. The GBP/NZD exchange rate picked up from 1.9413 at the morning’s open to trade up towards 1.9414 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.5172 and finished the session higher at 1.5158.

We had no significant economic data from the UK yesterday, however today we will look out for the 10:00 GMT CBI Reported Sales, where economists are expecting a decline from -3 to -5

The Euro gained against both the Pound the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3235 and traded in an uptrend towards the high of 1.3339, before trading back towards the 1.3327 level by the European market close.

Yesterday from the Euro-zone we had seen a slight increase in the German IFO Business Climate (Mar), where economists were expecting a decline from 109.7 to 109.6 and instead saw an increase at 109.8. Also Italian Consumer Confidence (Mar) came in much better than expected at 96.8 up from 94.4.

This morning we had the release of the German GfK Consumer Confidence Survey (APR) which came in slightly off the expected figure of 6.0 at 5.9. German Import Price Index also came in better than expected on the month-on-month figure at 1.0% vs. 0.9%, however overall Import Price Index was down from the prior month of 1.3%. Finally French Consumer Confidence Indicator came in much better than expected increasing from 82 to 87.

We have no further economic data from the Euro-zone today.

The US Dollar declined against the Pound and the Euro currencies yesterday. The decline was lead by further weakening of the US dollar, following an announcement by Fed’s Bernanke’s comment of another round of quantitative easing. On the economic data front we had a fairly mixed data releases from the US yesterday, with the release of Chicago Fed Nat Activity Index (Feb) declining from 0.33 to -0.09. Followed by Pending Home Sales increasing from 10.3% to 13.9% and Dallas Fed Manufacturing Activity (Mar) declining from 17.8 to 10.8.

Today from the US we have the release of the S&P Case-Shiller Composite 20 city (Jan) due at 13:00 GMT and Consumer Confidence Index Due at 14:00 GMT where economists expect a decrease from 70.8 to 70. Also we have Fed’s Dudley due to speak in Washington today about the Euro-zone aid which is due at 14:00 GMT.

This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Friday 23 March 2012

Foreign Exchange Daily Market Update 23/03/12

The Pound declined against the US Dollar again yesterday and also against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.2039 at the morning’s open to trade in an downtrend towards the day low of 1.1976, before trading back to 1.1986 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5851 the high of the day to trade down to the day’s low of 1.5770 before trading back towards 1.5812 by the European market close. The Pound also declined against the Australian Dollar and the New Zealand Dollar in the foreign exchange market yesterday. The GBP/NZD exchange rate picked up from 1.9614 at the morning’s open to trade down towards 1.9533 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.5267 and finished the session lower at 1.5219.

Yesterday we had the UK Retail sales came in much lower than expected putting pressure on GBP/USD currency pair. Retail Sales (Feb) year-on-year came in at 1.0% vs. 2.3% expected by economists and was down from prior release of 1.1

Today we will look out for the UK BBA Loans for House Purchase (Feb) due at 09:30 GMT, where economists are expecting a decrease from 38092 to 37250.

The Euro gained against both the Pound the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3164 and traded in a open range of the day low at 1.3135 to the high of 1.3202, before trading back towards the 1.3190 level by the European market close.

Yesterday morning we had seen a decline in French Purchasing Manager Index coming in at 47.6 vs. 50 and German Purchasing Manager Index for Manufacturing (Mar) coming in at 48.1 vs. 51. Also we saw a slight decrease in the Euro-zone PMI Composite where economists were expecting increase from 49.3 to 49.6, but the figure came in 48.7. However the Euro-zone Consumer Confidence (Mar) showed a slight improvement coming in at -19.0 vs. -19.8 and up from -20.3 from the prior month.

This morning we had the release of the French Business Confidence Indicator (Mar) beating expectations of 93 coming in at 96. Also beating expectations was the Italian Retail Sales release for both month-on-month and year-on-year, with the monthly figure coming in at 0.7 vs. -0.1% up from the prior month of -0.8% and the yearly figure coming in at -0.8% vs. -3.4% up from -3.7% previously.

We have no further economic data from the Euro-zone today.

The US Dollar managed to gain against the Pound and but declined against the Euro currencies yesterday. Yesterday we had some fairly positive data from the US yesterday, with Initial and Continuing Claims coming in better than expected. Initial claims came in at 348k down from 353k from the prior week and Continuing Claims came in at 3352k down from 3361k. Also Leading Indicators (Feb) showed an improvement coming in at 0.7% from 0.2% previously.

Today from the US we have New home Sales Due at 14:00 GMT where economists expect an increase from 321k to 325k.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Thursday 22 March 2012

Foreign Exchange Daily Market Update 22/03/12

The Pound had its first down day declining against the US Dollar yesterday, but managed to gain against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.1983 at the morning’s open to trade in an open range between the day low of 1.1941, and high of 1.2015 before trading back to 1.2004 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5913 the high of the day to trade down to the day’s low of 1.5817 before trading back towards 1.5851 by the European market close. On a further not the Pound continued its gains against both the Australian Dollar and the New Zealand Dollar in the foreign exchange market yesterday. The GBP/NZD exchange rate picked up from 1.9380 at the morning’s open to trade up towards 1.9453 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.5129 and finished the session slightly higher at 1.5173.

Yesterday we had the UK Budget presented to the Houses of Parliament; going over the main points briefly businesses will see corporation tax fall from 26% to 24% in April and the government wants to double its exports to £1 trillion this decade. As for personal taxes the income tax threshold will rise in April 2013 from £8,105 to £9,205 and the top tax rate of 50% will be cut to 45%. However we so no changes in the fuel duty in this year’s budget.

Today we will look out for the UK Retail Sales year-on-year (Feb) due at 09:30 GMT, where economists are expecting an increase from 1.9% to 2.3%.

The Euro declined against both the Pound the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3279 which was the days high to trader down to the low of the day at 1.3179, before trading back towards the 1.3203 level by the European market close.

Yesterday morning we had no significant data from the Euro-zone. This morning we have seen a decline in French Purchasing Manager Index from 50.0 to 47.6 and German Purchasing Manager Index for Manufacturing (Mar) from 50.2 to 48.1. Also we have just seen the release of the Euro-zone PMI Composite where economists were expecting a increase from 49.3 to 49.6, however the main figure came in at 48.7 missing expectations and lower from the prior month.

Later this morning we will look out for the 10:00 GMT Euro-zone Industrial New Orders year-on-year, where economists are expecting a further decrease from -1.7% to -3.1%.

The US Dollar managed to gain against the Pound and against the Euro currencies yesterday. Yesterday we had fairly negative data from the US yesterday, with MBA Mortgage Applications (Mar) declining further from -2.4% to -7.4% and US Existing Home Sales declining from $4.6mln to $4.59mln for the month of February.

Today we have some economic data from the US, firstly with the release of Initial and Continuing Jobless Claims at 12:30 GMT today, followed by Leading Indicators (Feb) due at 14:00 GMT.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Wednesday 21 March 2012

The Pound gained slightly against the US Dollar yesterday and declined fractionally against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.1989 at the morning’s open to trade in an open range between the day low of 1.1966, and high of 1.2025 before trading back to 1.1987 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5861 to trade up to the day’s low of 1.5829 before trading back towards 1.5866 by the European market close. But the Pound managed to gain against both the Australian Dollar and the New Zealand Dollar in the foreign exchange market yesterday. The GBP/NZD exchange rate picked up from 1.313 at the morning’s open to trade up towards 1.9415 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.5054 and finished the session slightly higher at 1.5122.

Yesterday Consumer Price Index from the UK came in slightly higher than expected at 3.4% vs. 3.3%, however the data was lower from 3.6% previously, showing a slight easing on inflation. Retail Price index was also down from 3.9% to 3.7% for the year-on-year (Feb) figure.

Today we will look out for the Bank of England Minutes due at 09:30 GMT, followed by the UK Budget to be presented to Parliament at 12:30 GMT.

The Euro gained slightly against the Pound and against the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3229 to trade up the high of the day at 1.3252, before trading back towards the 1.3234 level by the European market close.

Yesterday morning we had the German Producer Prices (Feb) year-on-year data come in line with expectations at 3.2%, down from the previous 3.4%. Today we have no further economic data from the Euro-zone.

The US Dollar declined against the Pound and against the Euro currencies yesterday. We had fairly mixed data from the US yesterday, with Building permits increasing from 682k to 717k for the month on February, however Home Starts (Feb) declined from 706k to 698k.

Today we have some economic data from the US, firstly with the MBA Mortgage Applications (Mar 16) due at 11:00 GMT and then followed by Existing Home Sales (Feb) at 14:00 GMT, where economists are expecting an increase from 4.57m to 4.60m.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Tuesday 20 March 2012

Foreign Exchange Daily Market Update 20/03/2012

The Pound continued to gain against the US Dollar yesterday, but declined against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.2044 at the morning’s open to trade in a open range between the day low of 1.1981, and high of 1.2071 before trading back to 1.2001 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5833 to trade up to the day’s high of 1.5904 before trading back towards 1.5897 by the European market close. The Pound also gained slightly against the Australian Dollar and declined against the New Zealand Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9224 at the morning’s open to trade down towards 1.9212 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4960 and finished the session slightly higher at 1.4978.

There was no scheduled data release from the UK yesterday. However today we have the Consumer Price Index (Feb) year-on-year figure due at 09:30 GMT, where economists are expecting a decline from 3.6% to 3.3%. Also today we will see the release of the Retail Price Index, which is expected to decline from 3.9% to 3.5% for the year-on-year figure.

The Euro gained against the Pound and against the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3145 to trade up the high of the day at 1.3265, before trading back towards the 1.3245 level by the European market close.

Italian Industrial Orders (Jan) declined yesterday with the month-on-month figure declining from 5.2% to -7.4%, along with Industrial Sales (Jan) month-on-month also declining from 3.2% to -4.9%.

This Morning we had the release of German Producer Price index, which came in line with expectations at 3.2% and lower from 3.4% for the year-on-year figure and the month-on-month figure slightly missed expectations coming in at 0.4% vs. 0.5%. We have no further scheduled from the Euro-Zone today.

The US Dollar declined against the Pound and against the Euro currencies yesterday. We had a no significant data from the US yesterday; however we had NAHB Housing Market Index come in line with the previous month at 28, which were lower then the expected figure of 30.

We have some significant data out from the US today, firstly with the release of Building Permits (Feb) due at 12:30 GMT along with Housing starts. The Building permit is expected to increase slightly from 682k to 686k, as for the Housing Starts we are looking at an increase from 699k to 700k. Also later today US Fed Bernanke gives a lecture at George Washington University at 16:45 GMT.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Monday 19 March 2012

Foreign Exchange Daily Market Update 19/03/12

The Pound closed out last week having made gains against the US Dollar and against the Euro in the foreign exchange market. The GBP/EUR exchange rate moved up from Monday’s open at 1.1954, to close the week at 1.2011. The GBP/USD exchange rate gained across the course of the week, starting from Monday’s open at 1.5677 the pair traded to a week low of 1.5601 before finishing the week around the 1.5830 level. The Pound also gained against the Australian dollar and against the New Zealand Dollar in the foreign exchange market last week. The GBP/NZD exchange rate picked up from 1.9172, to trade higher at 1.9183 by the close of the week. The GBP/AUD exchange rate opened up from 1.4893 and finished the week higher at 1.4947.

The week ahead will see some key economic data released from the UK. The first significant data to look out for will be released Tuesday with the Consumer Price Index year-on-year (Feb) due at 09:30 GMT, where economists are expecting a decline from 3.6% to 3.3%. During the week on Wednesday we have The Bank of England Minutes due at 09:30 GMT followed by the UK Budget being presented to the Parliament at 12:30 GMT. Finally we will look out for the Retail Sales data on Thursday due at 09:30 GMT, where economists are expecting an increase from 1.9% to 2.3% for the February year-on-year figure. There is no data from the UK today.

The Euro gained against the US Dollar, but declined against the Pound throughout last week in the currency exchange market. The EUR/USD rate picked up from 1.3116 at Monday’s open, to trade down to a week low of 1.3005 before coming back to 1.3171 by the close of the European trading session on Friday.

The main market focus for the week ahead in Europe will begin on Tuesday, with the release of German Producer Prices (Feb) year-on-year due at 07:00 GMT. Economists are expecting a decline from 3.4% to 3.2% for the year-on-year figure and a decline from 0.6% to 0.5% for the month-on-month figure. Later in the week on Thursday we will have a fair amount of data releasing. Firstly with the release of German Purchasing Manager index due at 08:30 GMT, then at 09:00 GMT we will see the release of the Euro-zone Purchasing Manager Index, followed by Euro-zone Industrial New Orders at 10:00 GMT and Euro-zone Consumer Confidence (Mar) due at 15:00 GMT.

This morning we have seen Euro-zone Current Account n.s.a. come in at €-12.3Bln for the month of January compared to the previous figure of €18.3bln and have seen a drop in Italian Industrial Orders month-on-month (Jan) from 5.2% to -7.4%.

Later this morning we will see the release of the Euro-zone Construction Output due at 10:00 GMT.

The US Dollar declined across the board especially against the Euro and the Pound last week in the currency markets. This week’s key events to look out for will be Tuesday’s US Building Permits due at 12:30 GMT where economists are expecting a gain from 682k to 686k. On Wednesday we have the Mortgage applications due at 11:00 GMT and Existing Home Sales due at 14:00 GMT. Later in the week on Thursday we will look out for Initial and Continuing Jobless Claims due at 12:30 GMT, followed by US Leading Indicators (Feb) and House Price Index both due at 14:00 GMT. Finally Friday will see the release of New Home Sales due at 14:00 GMT and Fed’s Lockhart is due to speak in Washington after hours at 18:30 GMT.

Today we have the release of NAHB Housing Market (Mar) due at 14:00 GMT where economists are expecting an increase from 29 to 30.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Friday 16 March 2012

Foreign Exchange Daily Market Update 16/03/12

The Pound gained against the US Dollar and gained fractionally against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.2004 at the morning’s open to trade in a open range between the day low of 1.1971, and high of 1.2013 before trading back to 1.2005 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5666 to trade down to the day’s low of 1.5632 before trading higher towards 1.5718 by the European market close. The Pound declined against the Australian Dollar and against the New Zealand Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9257 at the morning’s open to trade down towards 1.9166 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4932 and finished the session lower at 1.4896.

There was no scheduled data release from the UK yesterday and there is also no expected economic data today.

The Euro declined fractionally against the Pound, but managed to gain against the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3050 to trade down to the low of the day of 1.3038, before trading up towards the 1.3090 level by the European market close.

Yesterday we had seen the Euro-zone Employment quarter-on-quarter come in line with the previous figure of -0.2% and Euro-zone Labour costs increased from 2.6% to 2.8% across the year.

Data from the Euro-zone is fairly light today with the release of Euro-zone Trade Balance due at 10:00 GMT; however German Chancellor Merkel is to hold a news conference to speak on the German Industry due at 11:30 GMT.

The US Dollar declined against the Pound and against the Euro currencies yesterday. We had a good amount of data scheduled from the US yesterday, with the release of US Producer Price Index which declined from 4.1% to 3.3%, followed by Empire Manufacturing coming better than expected at 20.21 versus 17.5 and up from the prior release of 19.53. Initial and continuing jobless also showed improvement, with the Initial claims declining from 365k to 351k and Continuing Claims declining from the 3424k to 3343k.

We have important data out from the US today, firstly with the release of Consumer Price Index year-on-year (Feb) due at 12:30 GMT, which is expected to decline from 2.3% to 2.2%. At 13:15 GMT we have the release of the US Industrial Production, followed by University of Michigan Confidence due at 13:55 GMT.

This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Thursday 15 March 2012

Foreign Exchange Daily Market Update 15/03/12

The Pound closed yesterday’s session having made a slight loss against the US Dollar and gained fractionally against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.2035 at the morning’s open to trade in a tight range between the day low of 1.2005, and high of 1.2054 before trading back to 1.2040 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5720 to trade down to the day’s low of 1.5656 before trading higher towards 1.5699 by the European market close. The Pound also gained against the Australian Dollar and against the New Zealand Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9253 at the morning’s open to trade up towards 1.9378 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4976 and finished the session higher at 1.5000.

Yesterday we saw an increase in Jobless Claims Change in the UK, with the figure coming in worse than expected at 7.2k versus 5.0k expected by economists. Also the Unemployment Rate remained flat at 8.4% as expected for the month of January.

We have no scheduled data release from the UK today.

The Euro declined against both the Pound and the US Dollar in the currency exchange market again yesterday. The EUR/USD exchange opened up at 1.3060 to trade in a fairly open range from the day low of 1.3011, and the high of 1.3091 before closing out at 1.3038 by the European market close.

Yesterday we had seen the Euro-zone Consumer Price Index y/y (Feb) come in slightly lower than expectations at 1.5% versus 1.6% and in line with the previous release of 1.5%. This morning we will keep an eye on Italian General Government Debt (Jan) due at 09:30 GMT, followed by 10:00 GMT Euro-zone Employment.

The US Dollar declined against the Pound, but managed a slight gain against the Euro currencies yesterday. We had a fair amount of data scheduled from the US yesterday, with the release of MBA Mortgage Applications (Mar 9) which came in at -2.4% which declined further from the prior release of -1.2%. Also the US Current Account Balance came in worse than expected at -$124.1bln versus -$115.0bln.

We have a fair amount of data from the US today, firstly with the release of US Producer Price Index due at 12:30 GMT; which is expected to decline from 4.1% to 3.1%. Also we have the release of Empire Manufacturing (march) expected at 17.4 down from 19.53, followed by Initial and Continuing Jobless Claims.

This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Wednesday 14 March 2012

Foreign Exchange Daily Market Update 14/03/12

Yesterday the pound gained against the US Dollar and against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.1918 at the morning’s open to trade in a uptrend towards the high of 1.2010 before trading back to 1.1992 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5648 to trade up to the day’s low of 1.5619 before trading higher towards 1.5724 by the European market close. The Pound also gained against the Australian Dollar and against the New Zealand Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9060 at the morning’s open to trade up towards 1.9134 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4871 and finished the session higher at 1.4922.

Yesterday we had the Visible Trade Balance from the UK, which came in better than expected at -£7532 vs. -£79000, however was worse than the previous figure of -£7184.

This morning we have some key data from the UK today with the Jobless Claims Change and Unemployment Rate both due at 09:30 GMT. The Jobless Claims Change figure is expected to decline from 6.9k to 5.0k and Unemployment Rate is expected to be unchanged at 8.4% by economists.

The Euro declined against both the Pound and the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3130 to trade down to the day low of 1.3052 before closing out at 1.3111 by the European market close. Yesterday morning we had seen the release of the French Consumer Price Index (Feb) year-on-year which came in line with expectations at 2.3% and the month-on-month figure came in at -0.4%, both unchanged from the prior month. German Zew Survey for the month of March came in much better than expected at 22.3 vs. 5.4 from the prior month.

Today we will look out for the Euro-zone Consumer Price Index due at 10:00 GMT, we are expected an increase from 2.6% to 2.7% for the year-on-year.

The US Dollar declined against the Pound, but gained against the Euro currencies yesterday. We had a fair amount of data scheduled from the US yesterday, with the release of Advance Retail Sales (FEB), which came in line with expectations at 1.1% and up from 0.6% from the prior month. Then we were followed by better than expected Business Inventories, which came in at 0.7% vs. 0.5% expected by economists.

Today from the US we will be looking out for the MBA Mortgage Applications (Mar 9) due at 11:00 GMT and the US Current Account Balance (Q4) due at 12:30 GMT.

This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.


Tuesday 13 March 2012

Foreign Exchange Daily Market Update 13/03/12

Yesterday the pound declined against the US Dollar and against the Euro in the foreign exchange market. The GBP/EUR exchange rate picked up from 1.1954 at the morning’s open to trade in a downtrend towards the low of 1.877 before trading back to 1.1877 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.57677 to trade up to the day’s high of 1.5696 before trading back to 1.5623 by the European market close. The Pound also declined against the New Zealand Dollar and but gained against the Australian Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9173 at the morning’s open to trade down towards 1.9120 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4893 and finished the session higher at 1.4907.

Yesterday we had no significant economic data from the UK. However today we will look out for the 09:30GMT Visible Trade Balance, which is expected to decline further from -£7111 to -£7900.

The Euro gained against the Pound and against the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3115 to trade up to the day high of 1.3156 before closing out at 1.3148 by the European market close. Yesterday morning we had seen German Wholesale Price Index for month-on-month and year-on-year come in line with expectations at 1.0% and 2.6% respectively. Italian GDP also showed slight on the year-on-year figure increasing from -0.5 to -0.4.

This morning we have seen the release of the French Consumer Price Index (Feb) year-on-year come in line with expectations at 2.3% and the month-on-month figure came in at -0.4%, both unchanged from the prior month.

Today our key focus on the Euro-zone will be the 10:00 GMT German Zew Survey for the month of March which is expected to increase from 5.4 to 10.

The US Dollar gained against the Pound, but declined against the Euro currencies yesterday. We had no economic data scheduled from the US yesterday; however we had the release of the Monthly Budget Statement which declined further from -$222.5bln to -$231.7bln.

Today we have an important day in regards to economic data from the US, firstly with the release of Advance Retail Sales (FEB) due at 12:30 GMT; which is expected to increase from 0.4% to 1.1%. Followed by Business Inventories due at 14:00 GMT, where economists are expecting an increase from 0.4% to 0.5%. Finally after the European trading session we have the FOMC Rate Decision due at 18:15GMT, where economists are expecting no change to current interest rates.

This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Monday 12 March 2012

Foreign Exchange Daily Market Update 12/03/12

The Pound closed out last week having made a loss against the US Dollar and against the Euro in the foreign exchange market. The GBP/EUR exchange rate moved down from Monday’s open at 1.1980, to close the week at 1.1957. The GBP/USD exchange rate declined slightly across the course of the week, starting from Monday’s open at 1.5807 the pair traded to a week high of 1.5882 before finishing the week around the 1.5673 level. The Pound also declined against the Australian dollar and against the New Zealand Dollar in the foreign exchange market last week. The GBP/NZD exchange rate picked up from 1.9182, to trade lower at 1.9067 by the close of the week. The GBP/AUD exchange rate opened up from 1.4805 and finished the week lower at 1.4795.

The week ahead will see some key economic data released from the UK. The first significant data to look out for will be released Tuesday with the Visible Trade Balance due at 09:30 GMT, where economists are expecting a further decline from -£7111 to -£7900. Then on Wednesday we have Jobless Claims Change due at 09:30 GMT, where economists are expecting a decline from 6.9k to 5.0k. There is no data from the UK today.

The Euro declined against the US Dollar, but gained against the Pound throughout last week in the currency exchange market. The EUR/USD rate picked up from 1.3189 at Monday’s open, to trade down to a week low of 1.3096 before coming back to 1.3108 by the close of the European trading session on Friday.

The main market focus for the week ahead in Europe will be at 10:00 GMT on Tuesday with the release of German ZEW Survey, which is expected to increase from 5.4 to 10. On Wednesday we have the release of the Euro-Zone Consumer Price Index also due at 10:00 GMT, followed by the ECB monthly report due at 09:00 GMT on Thursday.

This morning we have seen German Wholesale Price Index for month-on-month and year-on-year come in line with expectations at 1.0% and 2.6% respectively. Italian GDP showed a slight on the year-on-year figure increasing from -0.5 to -0.4.

There is no further economic data from the Euro-zone today; however EU finance ministers are to hold a meeting in Brussels today at 16:00 GMT.

The US Dollar gained against the Euro and against Pound last week in the currency markets. This week’s key events to look out for will be Tuesday’s Advance Retail Sales due at 12:30 GMT where economists are expecting a gain from 0.4% to 1.1% and we have the FOMC Rate Decision at 18:15 GMT. Wednesday we have the Mortgage applications due at 11:00 GMT, followed by Thursday’s Initial and Continuing Jobless Claims. To end the week we have the Consumer Price Index due at 12:30 GMT on Friday and University of Michigan Confidence due at 13:55 GMT.

There is no economic data from the US today.

This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Friday 9 March 2012

Foreign Exchange Daily Market Update 09/03/12

The Pound gained against the US Dollar but declined against the Euro in the foreign exchange market yesterday. The GBP/EUR exchange rate picked up from 1.1971 at the morning’s open to trade in a range of 1.1903 and 1.1984, before trading back to 1.1932 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5772 to trade up to the day’s high of 1.5832 before trading back to 1.5819 by the European market close. The Pound gained against the New Zealand Dollar and against the Australian Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9166 at the morning’s open to trade down towards 1.9191 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4837 and finished the session higher at 1.4896.

Bank of England kept its Asset Purchasing Target for the month of March unchanged at £325bln yesterday and also left the Interest Rates unchanged at 0.5%. However today we have a fair bit of economic data from the UK, with Industrial Production, Manufacturing Production, Visible Trade Balance and Producer Price Index Output Core all due at 09:30 GMT.

The Euro gained against the Pound and against the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3173 to trade up to the day high of 1.3278 before closing out at 1.3256 by the European market close. Yesterday we had the French Trade Balance (Jan) which came in worse than expected at €-5324m vs. €-5150m, along with French Bank of France Business Sentiment (Feb) also coming in worse than expected at 95 vs. 96. The European Central Bank also kept its Interest Rates at 1.00%.

This morning we have seen the release of the German Consumer Price Index (Feb) year-on-year, which came in line with expectations at 2.3% and the month-on-month figure came in at 0.9% unchanged from the prior month. Also German Trade Balance increased slightly from the month of January to €13.1bln vs. €12.9bln previously.

There is no further economic data from the Euro-zone today.

The US Dollar declined against the Pound and against the Euro currencies yesterday. We had seen some mixed data from the US yesterday with the RBC Consumer Outlook Index increased from 45.1 to 47.5 for the month of March. However Initial Jobless Claims and Continuing Claims came in slightly worse than expected, with the Initial Claims increasing from 354k to 362k and the Continuing Claims increasing from 3406k to 3416k.

Today from the US we will keep a close eye on Non-farm payrolls and the Unemployment Rate at 13:30 GMT today, where economists are expecting 210k for Non-Farm payrolls and Unemployment Rate to be unchanged at 8.3%. We will also look out for the US Trade Balance and Wholesale Inventories due at 15:00 GMT.

This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.


Thursday 8 March 2012

Foreign Exchange Daily Market Update 07/03/12

The Pound gained against the US Dollar but declined against the Euro in the foreign exchange market yesterday. The GBP/EUR exchange rate picked up from 1.1981 at the morning’s open to trade in a range of 1.1955 and 1.1990, before trading back to 1.1973 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5733 to trade down to the day’s low of 1.5696 before trading back to 1.5744 by the European market close. The Pound also finished lower against the New Zealand Dollar and against the Australian Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9257 at the morning’s open to trade down towards 1.9204 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4902 and finished the session lower at 1.4876.

There was no significant data from the UK yesterday, however today at 12:00 GMT we will be keeping a close eye on the BOE Asset Purchase Target for the month of March and BOE Rate decision, which is expected to be unchanged at 0.50% by economists.

The Euro gained against the Pound and against the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3129 to trade down to the day low of 1.3096 before closing out at 1.3148 by the European market close. Yesterday we had the German Factory Orders n.s.a. (Jan) year-on-year, come in worse than expected at -4.9% vs. -1.7%.

This morning we have seen the release of the French Trade Balance (Jan) which has come in worse than expected at €-5324m vs. €-5150m, along with French Bank of France Business Sentiment (Feb) also coming in worse than expected at 95 vs. 96.

Today we will look out for the 11:00 GMT German Industrial Production n.s.a. expected to increase from 0.90% to 1.1% for the year-on-year figure and a increase from -2.9% to 1.1% for the month-on-month figure.

The US Dollar declined against the Pound and against the Euro currencies yesterday. Overall their was positive data released from the US yesterday, with ADP Employment Change increasing from 173k to 216k this month, slightly higher than the expected 215k. However MBA Mortgage Applications (Mar 2) came in lower compared to the prior month falling from -0.3% to -1.2%, But had positive US Consumer Credit after trading session hours, with Consumer Credit increasing from $16.268bln to $17.776bln for the month of January.

Today from the US we will keep a close eye on the RBC Consumer Outlook, Intial Jobless Claims and Continuing Claims. Although the main focus will be tomorrow’s US Non Farm Payrolls Data.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Wednesday 7 March 2012

Foreign Exchange Daily Market Update 07/03/12

The Pound declined against the US Dollar and against the Euro in the foreign exchange market yesterday. The GBP/EUR exchange rate picked up from 1.1994 at the morning’s open to trade in a range of 1.1973 and 1.2019, before trading back to 1.1981 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5824 to trade down to the day’s low of 1.5710 before trading back to 1.5720 by the European market close. The Pound also finished lower against the New Zealand Dollar, but however finished higher against the Australian Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9382 at the morning’s open to trade down towards 1.9375 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4899 and finished the session slightly higher at 1.4904.

Yesterday from the UK we had the Halifax House Price month –on-month for February came in worse than expected at -0.5% vs. 0.3% expected by economists and down from 0.6% from the prior month. We have no further data from the UK today.

The Euro gained against the Pound, but declined against the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3191 to trade down to the day low of 1.3110 before closing out at 1.3119 by the European market close. Yesterday we had the Euro-zone Gross Domestic Product figures come out in line with expectations, with the year-on-year number unchanged at 0.7% and quarter-on-quarter at -0.3%.

This morning we will look out for the 11:00 GMT German Factory Orders n.s.a. (Jan) year-on-year, which is expected to decline from 0.0% to -1.7% and the month-on-month figure expected to decline from 1.7% to 0.6%.

The US Dollar gained against the Pound and against the Euro currencies yesterday. The dollar strength was led by worries over global growth and delays in the Greek debt deal. There was no significant data released from the US yesterday, however US Redbook month-on-month data came in better than expected posting a +0.1% gain in retail sales from the prior month.

Today we have a fair bit of data from the US with MBA Mortgage Applications (Mar 2) due at 12:00 GMT, followed by 13:15 GMT ADP Employment Change which is expected to rise from170k to 210k. Later after the UK trading session we will look out for the US Consumer Credit (Jan) due at 20:00 GMT, were economists are expecting a decline from $19,308bln to $12,000bln.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Tuesday 6 March 2012

Foreign Exchange Daily Market Update 06/03/12

The Pound gained against the US Dollar and against the Euro in the foreign exchange market yesterday. The GBP/EUR exchange rate picked up from 1.1980 at the morning’s open to trade in a range of 1.1974 and 1.2009, before trading back to 1.1995 by the close of the UK business day. The GBP/USD exchange rate picked up from 1.5808 to trade up to the day’s high of 1.5876 before trading back to 1.5868 by the European market close. The Pound also finished higher against the New Zealand Dollar and the Australian Dollar in the foreign exchange market. The GBP/NZD exchange rate picked up from 1.9181 at the morning’s open to trade up towards 1.9306 by the close of the UK business day. The GBP/AUD exchange rate opened up from 1.4805 and finished the session higher at 1.4870.

Yesterday from the UK we had the Purchasing Manager Index Services for the month of February, which come in lower than expected at 53.8 compared to 54.9 expected by economists and 56 from the prior month. We have no further data from the UK today.

The Euro declined against the Pound, but gained against the US Dollar in the currency exchange market yesterday. The EUR/USD exchange opened up at 1.3190 to trade up to the day low of 1.3160 before closing out at 1.3226 by the European market close.

Yesterday from the Euro-zone we had seen French Purchasing Manager Index come in slightly lower than expected at 50.0 vs. 50.3, whereas the German Purchasing Manager Index beat expectations slightly at 52.8 vs. 52.6. Later in the morning we saw Euro-Zone Retail Sales year-on-year come in better than expected at 0.0% vs. -1.5% expected by economists.

This morning we will look out the 10:00 GMT Euro-zone Gross Domestic Product, which is expected to be unchanged at 0.7% for the year-on-year figure and -0.3% for the quarter.

The US Dollar declined against the Pound and against the Euro currencies yesterday. We had some mixed economic data from the US yesterday; with Factory Orders (Jan) coming in at -1.0% better than the -1.5% expected by economists, but overall Factory Orders were down from 1.4% in the prior month. However ISM Non-Manufacturing Composite for the month of February came in much better than expected at 57.3 vs 56.0, the highest since February 2011.

Today we have no scheduled data release from the US.


This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.

Monday 5 March 2012

Foreign Exchange Daily Market Update 05/03/12

The Pound closed out last week having made a slight loss against the US Dollar and gained against the Euro in the foreign exchange market. The GBP/EUR exchange rate moved up from Monday’s open at 1.1894, to close the week up at 1.2004. The GBP/USD exchange rate declined slightly across the course of the week, starting from Monday’s open at 1.5858 the pair traded to a week high of 1.5993 before finishing the week back around the 1.5850 level. The Pound also declined against the Australian dollar and gained slightly against the New Zealand Dollar in the foreign exchange market last week. The GBP/NZD exchange rate picked up from 1.9036, to trade higher around 1.9060 by the close of the week. The GBP/AUD exchange rate opened up from 1.4879 and finished the week lower at 1.4745.

The week ahead will see some key economic data released from the UK. The first significant data to look out for will be released today with the Purchasing Manager Index Services due at 09:30 GMT, followed by BOE Rate Decision and Asset Purchase Target due at 12:00 GMT on Thursday. Finally to the end of the week we will keep an eye out for the Industrial Production, Manufacturing Production and Producer Price Index all due at 09:30 GMT on Friday.

The Euro declined across the board throughout last week in the currency exchange market. The EUR/USD rate picked up from 1.3427 at Monday’s open, to trade down to a week low of 1.3187 before coming back to 1.3201 by the close of the European trading session on Friday.

The main market focus for the week ahead in Europe will be at 10:00 GMT today with the release of Euro-Zone Retail Sales, followed by the Euro-Zone Gross Domestic Product due at 10:00 GMT on Tuesday. During the week on Wednesday we will look out for the German Factory Orders due at 11:00 GMT and ECB Rate Decision on Thursday at 12:45 GMT. To end the week we will look out for German Consumer Price Index data due at 07:00 GMT on Friday.

This morning we have seen French Purchasing Manager Index come in slightly lower than expected at 50.0 vs. 50.3, whereas the German Purchasing Manager Index beat expectations slightly at 52.8 vs. 52.6. Later at 10:00 GMT we will keep an eye out for the Euro-Zone Retail Sales year-on-year, expected to decline -1.3% to -1.5%.

The US Dollar gained against the Euro, but managed to gain slightly against pound last week in the currency markets. This week’s key events to look out for will be today’s Factory Orders for the month of January and ISM Non-Manufacturing due at 15:00 GMT. Further in the week on Wednesday we will keep a close eye on ADP Employment change, which is expected to increase from 170k to 210k. To finish the week we will look out for the Change in Non-Farm Payrolls and the Unemployment Rate for the month of February due at 13:00 GMT.

Later today at 15:00 GMT, we will look out for the US Factory Orders for the month of January expected to decline from 1.1% to -1.6% and ISM Non-Manufacturing expected to decline slightly from 56.8 to 56.2.

This Daily Market Update is brought to you by The Market Team @ KBRFXExchange Rate, Currency Conversion & Foreign Currency Transfer specialists.