tag:blogger.com,1999:blog-30153916164148981362024-03-13T08:43:52.148+00:00KBR Foreign Exchange Plc.KBR Foreign Exchange Plc. - Currency Experts. Foreign Exchange, International Payments, Money TransfersKBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.comBlogger193125tag:blogger.com,1999:blog-3015391616414898136.post-45340648732979120412013-04-23T09:49:00.001+01:002013-04-23T09:49:06.033+01:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday in the foreign exchange market we saw the Pound gain ground against the Euro and the US Dollar. The GBPEUR rate opened the day at a daily low of 1.1646 and strengthened until it closed out at a daily high of 1.1703. The GBPUSD rate followed a similar pattern, opening at a daily low of 1.5218 and closing out at a daily high of 1.5269. The Dollar also saw losses against the Euro with the EURUSD rate opening the day at 1.3068 and closing out at 1.3048.<br />
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It was a quiet day for data release yesterday with the main figure being Eurozone consumer confidence. It was expected to come out at -24 but came out slightly better at -22.3. US existing home sales for March came out better than expected, falling by 0.6% compared to the previous month.<br />
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There is expected to be a lot more data coming out today, we have already seen German and French PMI data be released. German PMI for services came out at 49.2 and for manufacturing, 47.9, both figures worse than expected. French PMI for services and manufacturing came out at 44.1 and 44.4 respectively, better than predicted. Eurozone PMI for services and manufacturing has just been released, at 46.6 and 46.5 respectively showing an expected deterioration in business conditions.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
<div style="margin: 0cm 0cm 0pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><br />
</span><a href="http://www.kbrfx.com/"><img border="0" height="60" src="http://www.kbrfx.com/images/banners/kbrfx_468x60.gif" width="468" /></a></span></span></span></div><script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com1tag:blogger.com,1999:blog-3015391616414898136.post-82303758017215862732013-03-20T09:53:00.001+00:002013-03-20T09:53:22.206+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday proved a good day for the Pound in the foreign exchange market as it gained strength against the Euro and the US Dollar. The <a href="http://www.kbrfx.com/terms/definition/buying-euros/" target="_blank">GBP/EUR</a> rate opened the day at a low of 1.1669 and strengthened across the day, hitting a daily high of 1.1757 before closing out at 1.1753. The <a href="http://www.kbrfx.com/terms/definition/buying-dollars/" target="_blank">GBP/USD</a> rate opened the day at 1.5106 but dropped below the 1.51 level just after the open of the markets; it did however strengthen across the morning, hitting a daily high of 1.5144 before closing out at 1.5113. The US Dollar also saw losses against the Euro with the EUR/USD rate opening the day at 1.2945 and closing out at 1.2858.<br />
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Yesterday morning we saw UK CPI (inflation) come out at 2.8%, as expected but higher than the 2.0% target level set by the <a href="http://www.kbrfx.com/terms/definition/bank-of-england/" target="_blank">Bank of England</a>. Regarding the current situation in Cyprus the political leaders are meeting for emergency talks after they rejected the international bailout deal put forward by the <a href="http://www.kbrfx.com/terms/definition/european-central-bank-ecb/" target="_blank">ECB</a>. The plans to charge a one-off tax on savings failed to attract the necessary support and if a bailout deal is not agreed there are fears banks could remain closed as if they are opened there could be a high risk of a bank run.<br />
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The main news for today will be focused around the 2013 Budget which George Osborne will release around midday; before this we will see UK jobless claims change for February and the unemployment rate for the three months leading up to January. The jobless claims are expected to fall by 5K and the <a href="http://www.kbrfx.com/terms/definition/unemployment-rate/" target="_blank">unemployment</a> rate is expected to remain at 7.8%.<br />
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This afternoon will see the release of the <a href="http://www.kbrfx.com/terms/definition/federal-open-market-committee/" target="_blank">FOMC</a>’s decision on whether or not to keep the base interest rate at the current level of 0.25% and no change is expected.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com1tag:blogger.com,1999:blog-3015391616414898136.post-12973938827669999772013-03-19T16:19:00.001+00:002013-03-19T16:19:21.753+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Last week in the foreign exchange market we saw the Pound finally gain some strength against the Euro and the US Dollar. The GBPEUR rate opened the week at 1.1483 and dropped to a weekly low of 1.1371 mid-week before it strengthened over the back end of the week, hitting 1.1624 before closing out the week at 1.1583. The GBPUSD rate opened the week at 1.4936 and like the previous rate it hit a weekly low of 1.4831 mid-week before closing out the week at 1.5131. It was a quiet week for data release from the UK with the main piece of data being industrial and manufacturing production which both fell by 2.9% and 3.0% respectively.<br />
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The US Dollar also weakened against the Euro last week with the EURUSD rate opening at 1.3008 and closing out at 1.3059. The main news from the Eurozone last week was their CPI (inflation) result which increased by 1.8% as expected. US retail sales came out of the US last week better than expected at 1.1%. The US CPI data also was released with the figure coming out slightly higher than expected at 2.0%.<br />
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Over the weekend we had some significant news come out of Cyprus where, due to an EU bailout deal, bank customers have to pay a levy of up to 9.9% on their savings. Savers with up to €100K in their bank will be charged a one-off amount of 9.9% of the amount in their account and those with under €100K will see a 6.7% charge implemented; this deal is expected to raise nearly €6Bn for Cyprus.<br />
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This week is an important week for the UK as the Chancellor, George Osborne will present the 2013 Budget to Parliament on Wednesday. We will also see UK jobless claims change and the unemployment rate be released with the rate for the 3 months up to January expected to remain at 7.8%.<br />
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On Wednesday the FED’s FOMC will also meet and decide whether or not they want to change their base interest rate with no change expected; staying at 0.25%.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
<div style="margin: 0cm 0cm 0pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><br />
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Yesterday was a quiet day for data release with only Rightmove house prices being released which saw an increase of 1.2%.<br />
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Today we have already seen CPI (inflation) for Feb with the figure increasing by 2.8%, more than the Bank of England's target rate of 2.0%. Later today Cyprus' Parliament will vote on the Deposit Levy for the EU bail out.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
<div style="margin: 0cm 0cm 0pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><span style="font-family: Verdana; font-size: 10pt;"><br />
</span><a href="http://www.kbrfx.com/"><img border="0" height="60" src="http://www.kbrfx.com/images/banners/kbrfx_468x60.gif" width="468" /></a></span></span></span></div><script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-88647592888564423252013-01-03T12:29:00.000+00:002013-01-03T12:29:17.775+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday we saw the Pound gain against the Euro but fall in value against the US Dollar. The GBPEUR rate opened the day at 1.2290 and lost ground across the first half of the day, hitting a daily low of 1.2271 at midday; it then gained strength over the latter part of the day to close out at a daily high of 1.2318. The GBPUSD rate opened the day at a daily high of 1.6312 but then fell throughout the day before it closed out at a daily low of 1.6254. Yesterday Manufacturing <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> was released and came out at 51.4, higher than the predicted figure of 49.1 showing a level of expansion in the manufacturing sector. Today the only piece of information set to be released from the UK is the <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> results for the construction sector which is set to come out at 49.5, slightly lower than the previous figure of 49.3 but still below the 50 level.<br />
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Yesterday the Euro lost ground against the Pound and the US Dollar in the foreign exchange market with the EURUSD rate opening at 1.3273, hitting a daily high of 1.3291 just after the open and closing out the day at a daily low of 1.3195. German <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> for December was the only figure to come out of the Eurozone yesterday was the <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> figure which was slightly higher than expected, 2.1%. Today there will be no data from the Eurozone.<br />
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The US Dollar gained against both the Pound and the Euro in yesterday’s market session off the back of the news that the Congress agreed a deal to stop the large tax increases and spending cuts that were due to come into effect. Initial jobless claims will be released later today with the figure set to be 356K, higher than last weeks figure of 350K.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-37421245545748840572012-12-10T17:06:00.003+00:002012-12-10T17:06:50.166+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Last week in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market we saw the Pound lose strength against the Euro and the US Dollar. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the week at 1.2305 and lost ground across the first half of the week, hitting a weekly low of 1.2273 on Wednesday morning. It then gain strength over the latter half of the week, hitting a weekly high of 1.2429 on Friday morning before closing the week out at 1.2386. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the week at 1.6037 and peaked on Tuesday afternoon to a weekly high of 1.6131 before it dropped off and hit a weekly low of 1.6002 on Friday afternoon, closing the week out at 1.6030. The main news from the UK last week was that of the Bank of England’s <a href="http://www.kbrfx.com/terms/definition/monetary-policy-committee-mpc/" target="_blank">MPC</a> deciding to keep the base interest rate at 0.5% and the asset purchase programme at £375B. This week there will not be much data coming from the UK with the most significant being that of the jobless claims change, showing the amount of new people who are claiming unemployment benefits but still actively seeking work. The figure is set to fall from 10.1K to 5K, some good news for the UK labour market.<br />
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The Euro gained strength against the Pound but weakened against the US Dollar during last weeks market session. The EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.3032 and moved to a weekly high of 1.3126 Wednesday afternoon before it slipped to a weekly low of 1.2877 Friday afternoon, closing the week out at 1.2941. We saw Euro-zone retail sales come out much lower than expected, at -3.6% compared to the predicted figure of -0.8%, showing a lower amount of confidence from consumers in the economy. Euro-zone third quarter GDP came out in line with predictions at -0.1% and on Thursday the <a href="http://www.kbrfx.com/terms/definition/european-central-bank-ecb/" target="_blank">ECB</a> decided to keep their base interest rate at 0.75%. This week we are set to see the German <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> <a href="http://www.kbrfx.com/terms/definition/inflation/" target="_blank">(inflation)</a> be released which is predicted to remain at 1.9% and later this week the Euro-zone CPI figure will also be released and set to stay at 1.5%. On Thursday the <a href="http://www.kbrfx.com/terms/definition/european-central-bank-ecb/" target="_blank">ECB</a> will release their monthly report discussing various economic topics including information on the latest <a href="http://www.kbrfx.com/terms/definition/european-central-bank-ecb/" target="_blank">ECB</a> meeting.<br />
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Last week we saw the US Dollar gain ground against both the Pound and the Euro in the foreign exchange market. The latter half of last week saw non-farm payrolls and the unemployment rate released, both showing good news for the labour market in the US. Non-farm payrolls increased by 145K compared to the predicted 85K increase and the unemployment rate fell from 7.9% to 7.7%. This week the Federal Open Market Committee <a href="http://www.kbrfx.com/terms/definition/federal-open-market-committee/" target="_blank">(FOMC)</a> decides on whether or not to keep the base rate at 0.25% with analysts predicting no change. On Friday US <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> <a href="http://www.kbrfx.com/terms/definition/inflation/" target="_blank">(inflation)</a> will be released with the figure set to fall from 2.2% to 1.9%.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-54270467184120861762012-12-06T14:41:00.002+00:002012-12-06T14:41:14.388+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday the Pound saw gains against the Euro but losses against the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. The GBPEUR rate opened at a daily low of 1.2280 but hit a daily high of 1.2328 at midday before closing the day out at 1.2312. The GBPUSD rate opened at 1.6107 and hit a daily high of 1.6114 at midday; it then slipped to a daily low an hour after at 1.6082 before closing the day out at 1.6101. Yesterday we saw UK PMI services come out lower than expected at 50.2 compared to the 51 predicted, showing a lower rate of expansion in the services sector. Today we will see the <a href="http://www.kbrfx.com/terms/definition/bank-of-england/" target="_blank">Bank of England</a> Monetary Policy Committee <a href="http://www.kbrfx.com/terms/definition/monetary-policy-committee-mpc/" target="_blank">(MPC)</a> decide on the base interest rate and asset purchase programme amount with both expected to remain at 0.5% and £375B respectively.<br />
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The Euro saw losses against the Pound and the US Dollar during yesterday’s market session with the EURUSD rate opening at a daily high of 1.3117. It weakened across the morning before it hit a daily low of 1.3060 early afternoon before it closed out at 1.3076. Euro-zone <a href="http://www.kbrfx.com/terms/definition/Retail-Sales/" target="_blank">retail sales</a> were released yesterday with the figure for October coming out much lower than expected at -3.6% compared to the predicted figure of -0.8%. The month on month figure also came out lower than expected, at -1.2%, the lowest rate we have seen since June 2010. Today, the main news from the Euro-zone will be the <a href="http://www.kbrfx.com/terms/definition/european-central-bank-ecb/" target="_blank">ECB</a>’s decision on whether or not to change the base interest rate from the current level of 0.75% with analysts predicting no change will come. <br />
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The US Dollar saw gains against the Pound and the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday even though non-farming employment change came out lower than expected at 118K compared to the predicted 129K, the lowest since last October. Today unemployment claims will be released, the number of individuals claiming for unemployment insurance for the first time in the past week, with the figure set to fall from 393K to 382K.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-64553927736893525252012-12-04T12:25:00.002+00:002012-12-04T12:25:44.210+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday the Pound saw gains against both the Euro and the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. The GBPEUR rate opened at a daily low of 1.2305 and peaked mid-morning to 1.2332 before closing out the day lower at 1.2325. The GBPUSD rate opened at 1.6037, the lowest point of the day but gained strength across the day to close out at a daily high of 1.6102. Manufacturing <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> results were released yesterday with the figure coming out slightly higher than expected, at 49.1, but still below the 50 mark showing a contraction in that sector. It has not gone over the 50 mark since May of this year. Today the <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> for construction will be released and is set to come out slightly lower than before, at 50.7, but still showing an expansion in the construction industry.<br />
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The Euro saw losses against both the Pound and the US Dollar during yesterday’s market session. The EURUSD rate opened at 1.3032 and drifted to a daily low of 1.3026 mid-morning. It then gained some strength and hit a daily high of 1.3076 just before it closed out the day at 1.3066. Yesterday Spanish and Italian Manufacturing <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> were released and both saw a contraction in that industry. This morning we have already seen Spanish <a href="http://www.kbrfx.com/terms/definition/unemployment-rate/" target="_blank">unemployment</a> change be released and coming out much lower than expected at 74.3K, compared to the analysts’ predictions of 90K. Euro-zone Producer Price Index (PPI) will be released later showing the average change in selling prices received by domestic producers for their goods and services.<br />
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The Dollar saw losses against the Pound but gains against the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. Yesterday Manufacturing <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> was released from the US and it came out lower than expected, 49.5 compared to the predictions of 51.5, the first time it has dropped below the 50 level since September. There will be no data released from the US today.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-72220534843934155592012-12-03T12:57:00.002+00:002012-12-03T12:57:18.731+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Last week we saw the Pound lose ground overall against the Euro and the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the week at 1.2355 and peaked Tuesday afternoon to a weekly high of 1.2406 but slipped across the second half of the week, hitting a weekly low of 1.2296 an hour before it closed the week out at 1.2406 on Friday. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> did not see much overall change across the week, opening at 1.6027 and closing it out at 1.6026 however we saw it hit a weekly low of 1.5962 on Wednesday afternoon and peak to 1.6060 when the markets opened Friday morning.<br />
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The main news out of the UK last week was that of the new Governor of the <a href="http://www.kbrfx.com/terms/definition/bank-of-england/" target="_blank">Bank of England</a> being announced as current Bank of Canada Governor, Mark Carney. It came as a surprise to the markets but many analysts believe that it is a safe choice due to the fact that Canada has not faced a banking crisis like the UK has. Earlier in the week the revised <a href="http://www.kbrfx.com/terms/definition/gross-domestic-product-gdp/" target="_blank">GDP</a> figure was released and stayed at 1.0%. On Thursday the Financial Stability Report was released followed by a conference held by Mervyn King who announced that may need more capital to be used as protection against possible future losses.<br />
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This week <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> results are set to be released in the sectors, Manufacturing, Construction and Services. Thursday will see the Bank of England Monetary Policy Committee <a href="http://www.kbrfx.com/terms/definition/monetary-policy-committee-mpc/" target="_blank">(MPC)</a> decide on whether or not to keep the base rate and asset purchase programme the same. Both are set to stay as they are although many believe that the asset purchase programme may be increased soon from £375B.<br />
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The Euro gained against both the Pound and the US Dollar during last week’s market session with the EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opening at 1.2972 and closing the week out at 1.3009. On Wednesday afternoon it hit a weekly low of 1.2880 and peaked at the open of trade on Friday at 1.3020. Last week we saw German <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> <a href="http://www.kbrfx.com/terms/definition/inflation/" target="_blank">(inflation)</a> come out at -0.1%, in line with predictions. Euro-zone unemployment rate was also released on Friday and came out as expected at 11.7%. This week we will see Spanish unemployment change be released on Tuesday. The previous result was the highest since February, 128.2K showing how much the financial crisis across the Euro-zone has affected the labour market. On Thursday the <a href="http://www.kbrfx.com/terms/definition/european-central-bank-ecb/" target="_blank">ECB</a> will meet to decide on the base rate which is expected to remain at 0.75%.<br />
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The US Dollar weakened against both the Pound and the Euro during last week’s <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market session. US preliminary <a href="http://www.kbrfx.com/terms/definition/gross-domestic-product-gdp/" target="_blank">GDP</a> was released last week, coming out higher than last year but lower than expected, at 2.7% showing an expansion in the US economy. Consumer confidence came out on Tuesday at 73.7, higher than the 73.1 predicted. Today manufacturing <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> will be released and is set to fall from 51.7 to 51.5. It is a big week for the labour market as non-farm unemployment change and the <a href="http://www.kbrfx.com/terms/definition/unemployment-rate/" target="_blank">unemployment rate</a> will be released later this week. Non-farm unemployment change is set to fall from 158K to 141K and the <a href="http://www.kbrfx.com/terms/definition/unemployment-rate/" target="_blank">unemployment rate</a> is set to stay at 7.9% on Friday.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-63758631339767033342012-11-29T12:55:00.004+00:002012-11-29T12:55:53.646+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">During yesterday’s <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market session the Pound lost ground against the Euro and the US Dollar. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.2387 and moved to a daily high of 1.2403 early morning before closing the day out at 1.2378. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the day at 1.6008 and quickly hit a daily high of 1.6018 an hour after the open. It then proceeded to fall during the morning before it hit a daily low of 1.5962 just after lunch, closing the day out at 1.5996. Yesterday we saw no data be released from the UK but today the <a href="http://www.kbrfx.com/terms/definition/bank-of-england/" target="_blank">Bank of England</a> will release their Financial Stability Report which assesses the overall stability of the financial sector at the time of publishing. We may see a significant movement in the GBP against other currencies as analysts will be looking for clues as to future monetary policies. Once the report has been published the Governor of the Bank of England, Mervyn King will hold a conference to discuss the topics covered, however we may see the main topic of conversation be about the announcement of Mark Carney as the new Governor, taking over from King next year.<br />
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The Euro saw gains against the GBP but overall it remained unchanged against the US Dollar yesterday. The EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.2923 before shooting up to a daily high of 1.2938 minutes after the open of the European market. It then slipped throughout the rest of the day, hitting a daily low of 1.2880 mid-afternoon before closing the day out again at 1.2923. The main news from the Euro-zone yesterday was that of German <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> <a href="http://www.kbrfx.com/terms/definition/inflation/" target="_blank">(inflation)</a> being released which came out in line with predictions at 1.9%, the same result as what came out for November 2011, showing no change in the price of living in Germany. Today German <a href="http://www.kbrfx.com/terms/definition/unemployment-rate/" target="_blank">unemployment</a> change has already been released which was expected to come out at 16K however it was much lower than predicted, coming out at 5K, some positive news for the German labour market.<br />
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Yesterday the US Dollar gained some strength against the Pound and remained unchanged overall against the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. The only significant data coming out of the US yesterday were new homes sales which were lower than expected, 368K compared to the 387K that analysts predicted. Later today US <a href="http://www.kbrfx.com/terms/definition/gross-domestic-product-gdp/" target="_blank">GDP</a> will be released with the figure set to rise from 2.0% to 2.8% the highest result since February. Unemployment claims are also set to be released later with the figure set to fall from 410K to 404K; if both these results are as expected we may see the US Dollar gain strength against the Pound so it could possibly be a good day for selling Dollars.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-19212376319167919282012-11-28T15:22:00.004+00:002012-11-28T15:22:50.806+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">In the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday we saw the Pound strengthen against the Euro but weaken versus the US Dollar. The GBPEUR rate opened the day at 1.2348, a daily high, before peaking early afternoon to 1.2406 and closing the day out at 1.2385. The GBPUSD rate opened the day at 1.6043 and gained strength across the morning, peaking to 1.6057 just after lunch and closing out at a daily low of 1.6026. The only data from the UK yesterday was the revised GDP figure which stayed at 1.0%, as expected. Today there will be no data released from the UK.<br />
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The Euro weakened against the Pound and the US Dollar in yesterday’s market session. The EURUSD rate opened at a daily high of 1.2992 and lost ground across the first half of the day before it hit a daily low of 1.2916, closing the day out at 1.2939. There was no data released from the Euro-zone yesterday but today German <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> data will be released and is set to fall slightly from 2.0% to 1.9% showing a lower rate of <a href="http://www.kbrfx.com/terms/definition/inflation/" target="_blank">inflation</a> in the German economy.<br />
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The US Dollar saw losses against the Pound but strengthened against the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. Durable goods orders were released yesterday and remained unchanged; they were expected to fall by 0.6% showing that there is still quite a relatively high level of confidence in the US economy. This was backed up by the fact <a href="http://www.kbrfx.com/terms/definition/consumer-confidence/" target="_blank">consumer confidence</a> came out a little higher than expected, at 73.7 compared to 73.1. Today will see new homes sales be released which are expected to fall from 389K to 387K.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-81554173194494304232012-11-27T16:12:00.001+00:002012-11-27T16:12:48.202+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">The Pound saw losses against the Euro and the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. The GBPEUR rate opened the day at 1.2355 but moved to a daily high of 1.2362 an hour after the open; it fluctuated throughout the day, dropping to a daily low of 1.2331 before closing the day out at 1.2350. The GBPUSD rate opened at 1.6027, hitting a daily high of 1.6034 mid-morning, before falling to 1.5996 in the afternoon and closing out the day at 1.6013. There was no data released form the UK yesterday but there was some big news as the new Governor of the <a href="http://www.kbrfx.com/terms/definition/bank-of-england/" target="_blank">Bank of England</a> was announced. The Chancellor of the Exchequer, George Osborne, announced that the new Governor will be Canadian, Mark Carney who is currently Governor of the Bank of Canada and Chairman of the Financial Stability Board. Many analysts believe it is a sound choice as he has experience as a central banker and Canada has had no big banking crisis like the UK has. Today has already seen the UK <a href="http://www.kbrfx.com/terms/definition/gross-domestic-product-gdp/" target="_blank">GDP</a> revised figure come out at 1.0%, so no change.<br />
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The Euro saw gains versus the Pound but losses against the US Dollar during yesterday’s market session. The EURUSD rate opened the day at 1.2972 and dropped to a daily low shortly after to reach 1.2947; it then quickly peaked up to 1.2981 before lunch before it closed the day out at 1.2966. The major news from the Euro-zone yesterday was the Euro-group meeting where for the third time this month leaders have tried to clear an aid payment to Greece. There will be no data from the Euro-zone today.<br />
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Yesterday we saw the US Dollar gain against the Pound and the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market even though there was no data released from the US. Today will see durable goods orders for October be released with the figure set to fall by 1.0%. This is much lower than the previous figure of 9.9% for September showing a lower amount of confidence in the US market however <a href="http://www.kbrfx.com/terms/definition/consumer-confidence/" target="_blank">Consumer Confidence</a> will also be released and is set to rise from 72.2 to 73.0.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-89051938924093097942012-11-26T17:21:00.003+00:002012-11-26T17:23:01.085+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Last week we saw the Pound lose ground against the Euro with the GBPEUR rate opening at 1.2459 and closing out at a weekly low of 1.2371; it did hit a weekly high of 1.2467 at the open of trade on Wednesday. The Pound did however see gains against the US Dollar during last week’s market session with the GBPUSD rate opening at a weekly low of 1.5902 and closing at a weekly high of 1.6031. Last week we saw UK public sector net borrowing be released with the figure coming out lower than expected at £6.5B showing a surplus which is good news for the economy. The MPC minutes from their last meeting were released too with the data showing all members voting to keep the base rate at 0.5%. This week will see the revised <a href="http://www.kbrfx.com/terms/definition/gross-domestic-product-gdp/" target="_blank">GDP</a> figure be release which is set to remain at 1.0% and Thursday will see Mervyn King hold a press conference about the financial stability report.<br />
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The Euro gained against the Pound and the US Dollar in the foreign exchange market last week with the EURUSD rate opening at a weekly low of 1.2763 and closing at a weekly high of 1.2958. The main news from the Euro-zone last week was that of Moody’s cutting France’s credit rating from AAA to AA1 and the other credit rating agency, Fitch, giving it a negative outlook for the next year. French, German and Euro-zone <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> results all came out better than expected and the German 3Q GDP figure came out at 0.2%, as expected. Monday will see the Euro-group meeting be held in Brussels to discuss a range of financial issues such as the Euro support mechanism. On Thursday Italy will hold a bond auction on their 10-year bonds.<br />
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The US Dollar lost ground against both the Pound and the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market last week. It was a relatively quiet week for data release due to Thanksgiving but unemployment claims came out better than expected, 410K compared to the 415K predicted. This week the main data release will be durable goods orders which are set to fall by 0.6%. This shows a lower amount of consumer confidence as durable goods are those that last for at least three years so the initial investment must be worth it. Thursday will see the preliminary quarter-on-quarter GDP figure be released which is set to rise from 2.0% to 2.8%.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-40129319909449390142012-11-23T10:10:00.003+00:002012-11-23T10:10:24.148+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">The Pound saw itself weaken against the Euro and the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.2422, a daily high, and lost strength across the day before closing out at a daily low of 1.2374. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.5964 and quickly gained strength, hitting a daily high of 1.5979 early morning. Throughout the rest of the day it weakened before closing out at a daily low of 1.5930. There was no data released from the UK yesterday and none will come out today.<br /><br />The Euro gained strength against both the Euro and the US Dollar during yesterday’s market session. The EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the day at a daily low of 1.2851 before hitting a daily high of 1.2899 at midday, closing the day out at 1.2874. Yesterday we saw German, French and Euro-zone <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> all come out better than expected, some good news for once. Today German <a href="http://www.kbrfx.com/terms/definition/gross-domestic-product-gdp/" target="_blank">GDP</a> figures have been released with the year-on-year and quarter-on-quarter figures coming out in line with predictions, 0.4% and 0.2% respectively. Today there is also a Euro-zone economic summit where heads of state will meet and discuss future plans for Spain and Greece.<br /><br />The US Dollar saw some gains against the Pound but weakened against the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. There was no data from the US yesterday as it was Thanksgiving and none will be released today<br /><br /><span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p></span></span><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-20650709953241635282012-11-22T10:37:00.001+00:002012-11-22T10:37:22.979+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">In the <a href="http://www.kbrfx.com/" target="_blank">foreign exchang</a>e market yesterday we saw the Pound lose ground against the Euro but gain against the US Dollar. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at a daily high of 1.2456 and lose momentum throughout the day before it hit a daily low of 1.2421 in the afternoon, closing out the day at 1.2433. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the day at a daily low of 1.59 and gained strength throughout the day to close out at a daily high of 1.5935. The main news coming from the UK yesterday were the results of the public sector net borrowing, the amount of new debt held by the government. The figure came out much lower than before, 6.5B compared to the 9.9B last month. There will be no data coming from the UK today.<br />
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The Euro gained against the Pound but saw losses against the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. The EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at a daily low of 1.2765 and gained throughout the day to close out at a daily high of 1.2816. There was no data released from the Euro-zone yesterday but today has already seen German <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> be released, up to 46.8 from 46 last month. Euro-zone <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> has also been released, up slightly from 45.7 to 45.8.<br />
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The US Dollar weakened against both the Euro and the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. This came off the back of jobless claims which came out higher than expected, down from 451K to 410K. Today is Thanksgiving in the US, a public holiday, so no data will be released.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-12984996975870375942012-11-20T11:41:00.004+00:002012-11-20T11:41:55.014+00:00Daily Foriegn Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">During yesterday’s market session we saw the Pound lose ground against the Euro but gain a slight amount versus the US Dollar. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at a daily high of 1.2459 and slipped throughout the day to close out at a daily low of 1.2419. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the day at 1.5902 but fell to a daily low of 1.5887 just after lunch. It regained some momentum in the afternoon, peaking at 1.5919 mid-afternoon, closing the day at 1.5907. There was no significant data released from the UK yesterday and none will come out today.<br />
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The Euro gained against the Pound and the US Dollar in the foreign exchange market yesterday with the EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opening at a daily low of 1.2763. It then moved up to a daily high of 1.2820 an hour before it closed out at 1.2805. No data was released from the Euro-zone yesterday but today has already seen German Producer Price Index (PPI) be released; showing the change in prices paid by domestic producers, also known as the factory gate prices and the figure came out lower than expected at 1.5%. Today will also see the Euro Area finance ministers meet and discuss the goings on in the Euro-zone, focusing mainly on the Greek dilemma.<br />
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The Dollar weakened against both the Pound and the Euro in yesterday’s <a href="http://www.kbrfx.com/">foreign exchange</a> market session. The main data from the US yesterday was, existing home sales which saw a decrease from 4.79M to 4.69M. Today will see building permits be released, the number of new residential building permits issues during the previous month. It was 0.89M and is expected to fall slightly to 0.87M.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-53521845630153542042012-11-19T10:30:00.000+00:002012-11-19T10:24:59.550+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">During last week’s foreign exchange market session the Pound lost strength against the Euro and the US Dollar. The GBPEUR rate opened the week at 1.2507 and moved to a weekly high of 1.2546 on Tuesday morning before dropping to a weekly low of 1.2399 on Thursday afternoon, closing the week out at 1.2475. The GBPUSD rate opened at 1.5897 and moved to a weekly high of 1.5916 on Tuesday morning before dropping to a weekly low of 1.5825 on Thursday afternoon, closing the week out at 1.5867. It was a bad week for data release out of the UK as the majority of results came out worse than expected. Tuesday saw <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> <a href="http://www.kbrfx.com/terms/definition/inflation/" target="_blank">(inflation)</a> higher at 2.7% compared to the 2.3% predicted. The result was mainly blamed on higher tuition fees and food and non-alcoholic beverages which were the second largest contributor. The claimant count change showed an increase of 10.1K even though it was expected to fall by 0.5K, showing there was a much higher amount of people claiming unemployment benefits in the previous month. The final bit of significant data that came out was retail sales which fell by 0.8%. This week will not see much data be released, the most important piece being the release of the <a href="http://www.kbrfx.com/terms/definition/monetary-policy-committee-mpc/" target="_blank">MPC</a> meeting minutes which shows how many <a href="http://www.kbrfx.com/terms/definition/monetary-policy-committee-mpc/" target="_blank">MPC</a> committee members voted for a rate increase, decrease or hold.<br />
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The Euro gained strength against the Pound but lost ground against the US Dollar last week. The EURUSD rate opened the week at 1.2753 and hit a weekly low of 1.2660 on Tuesday morning before gaining strength and peaking at 1.2802 on Thursday afternoon before closing the week out at 1.2717. German economic sentiment came out worse than expected, -15.7 compared to the predicted level of -9.9 showing a low level of confidence in Germany. French and German GDP figures came out last week and both saw an increase of 0.2%, better than expected. French and German <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> are expected to come out this week; the French result is set to come out slightly higher than before at 44.1 and the German slightly lower at 45.9.<br />
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The US Dollar saw gains against both the Pound and the Euro in the foreign exchange market. US <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> was higher than expected coming out at 0.2% compared to the 0.1% predicted. <a href="http://www.kbrfx.com/terms/definition/Retail-Sales/" target="_blank">Retail sales</a> also fell by 0.3%. This week will see unemployment claims come out and are set to fall from 439K to 397K. The chairman of the <a href="http://www.kbrfx.com/terms/definition/federal-reserve/" target="_blank">Fed</a>, Ben Bernanke is set to make a speech on Tuesday entitled ‘The Economic Recovery and Economic Policy’ at the Economic Club in New York. Existing home sales are also set to be released and are predicted to rise slightly from the previous month to 4.76M.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-80583865738294826532012-11-14T10:00:00.000+00:002012-11-15T12:23:06.707+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday the Pound weakened against the Euro but strengthened against the US Dollar in the foreign exchange market. The GBPEUR rate opened at 1.2509, peaking early morning to a daily high of 1.2546 before slipping across the rest of the day to close out at a daily low of 1.2492 showing overall it was a good day to be buying Euros. The GBPUSD rate opened at a daily high of 1.5873 and also gained strength in the morning to reach a daily high of 1.5916 before closing the day slightly lower at 1.5884. Yesterday UK CPI (inflation) data was released and came out higher then expected, 2.7% compared to the 2.3% predicted. Food prices, especially produce, were one of the main reasons for the increase and they went up due to the record wet weather we had earlier in the year. The Bank of England want to keep inflation low at 2% and the normal way of doing so is by rising interest rates which it will not do during a period of weak economic activity. This month’s results were a lot different to September’s release where CPI was 2.2%, the lowest for nearly three years.<br />
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This morning we have already seen UK jobless claims be released, showing the change in the number of people claiming unemployment benefits during the previous month and came out at 10.1K even though there was predicted to be no change from last month where it fell by 4K. Later today the Bank of England will release their inflation report which will show a projection for inflation and growth over the next two years. Mervyn King is also set to hold a conference along with other MPC members to discuss the report’s content.<br />
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The Euro gained ground against both the Pound and the US Dollar during yesterday’s market session. The EURUSD rate opened at 1.2688 but quickly dropped to a daily low of 1.2660; it then gained strength during lunch and hit a daily high of 1.2728 before closing the day out at 1.2718. Yesterday the German ZEW consumer confidence survey was released showing whether analysts and investors have an optimistic or pessimistic view on the German economy. The Figure came out significantly lower than expected, -11.5 compared to -9.9 showing that even in Germany patience is wearing thin. Today will see French CPI (inflation) be released with the figure not set to move much, from 2.2% to 2.1%.<br />
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The US Dollar saw gains against the Pound but losses against the Euro in the foreign exchange market yesterday. No data came out of the US yesterday but today will see a few significant pieces be released, the first being retail sales showing the change in total value of sales at retail level giving us an insight into consumer demand and confidence. Last month retail sales rose by 1.1% but they are set to fall by 0.2% this month showing a decrease in consumer confidence. PPI will also be released later today revealing the change in the prices of finished goods and service sold by producers and is set to rise by 0.2%, lower then the previous result of 1.1%. The Fed will also release the minutes from the October meeting later today.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-47443777785481296822012-11-13T09:30:00.000+00:002012-11-13T09:30:06.947+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market the Pound weakened against both the Euro and the US Dollar. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the day at 1.2507, a daily high before dropping to a daily low of 1.2468 just after lunch; it finally closed out at 1.2483. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.5897 and hit a daily high of 1.5909 mid-morning, it then weakened throughout the rest of the day to close out at a daily low of 1.5869. There was no data released from the UK yesterday but today will see <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> <a href="http://www.kbrfx.com/terms/definition/inflation/" target="_blank">(inflation)</a> come out showing the change in prices of goods and services purchased by consumers. The previous month’s figure was 2.2% and today the figure is set to come out only slightly higher at 2.3%, further away from the headline inflation figure of 2%, set by the Bank of England.<br />
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The Euro gained some ground against the Pound and the US Dollar during yesterday’s market session. The EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the day at 1.2709, falling quickly to reach a daily low of 1.2703; over the next two hours it gained strength to hit a daily high of 1.2726 before closing out the day slightly lower at 1.2712. Yesterday, Euro-Area ministers met in Brussels to discuss the situation in Greece and decided that they would give Greece two more years to meet its fiscal goals but are not expected to authorise more money. Today, German ZEW economic sentiment will be released showing the level of diffusion in the economy, a leading indicator of economic health. It surveys 275 German institutional investors and analysts and a total result of above 0 shows optimism, below 0 showing a pessimistic view on the economy. The result is expected to be -10.1, slightly better then last month’s result of -11.5 but still showing overall pessimism in the market.<br />
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The US Dollar gained against the Pound yesterday but weakened against the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. Yesterday was a public holiday in the US so no data was released and today is a very quiet day on that front with no data being set to be released again.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-87937000851259496582012-11-12T10:39:00.001+00:002012-11-12T10:39:22.024+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Last week saw the Pound lose ground against the Euro and the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the week at 1.2519, falling throughout the first half of the week before hitting a weekly low of 1.2453 on Wednesday morning. It then quickly gained ground to reach a weekly high on Thursday afternoon at 1.2561 before closing the week out slightly lower at 1.2514. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at a weekly high of 1.6013 before losing strength throughout the week and closing at a weekly low of 1.5906. Last week there were several pieces of data coming out of the UK, the most important being the Bank of England’s decision to keep the base rate and asset purchase target the same at 0.5% and £375B respectively. As well as this <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> for services was released which shows the level of business conditions in the services sector, it was worse than expected, coming out at 50.6 compared to the 52.0 predicted.<br />
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This week will see <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> (inflation) be released, showing the change in prices for retail goods, the Bank of England’s key measure on inflation and is expected to come out slightly higher than before at 2.4% Jobless claims will also be released showing the change in the number of people claiming unemployment-related benefits; the previous month’s figure was -4K and this month it is set to come out at -5.1K, a better result.<br />
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The Euro gained against the Pound but lost strength against the US Dollar during last week’s market session. The EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the week at 1.2792 before moving to a weekly high of 1.2868 on Wednesday morning. It then weakened throughout the latter half of the week, dropping to a weekly low of 1.2689 on Friday afternoon, closing the week out slightly higher at 1.2715. Last week saw Spanish unemployment change be released, coming out at 128.2K, much higher then the 90.3K predicted, the highest since February, bad news for the Spanish job market. Mario Draghi spoke in a conference regarding the state of the Euro-zone economy. He stated that he expected inflation to fall below 2% in the next year even though unemployment is high and economic activity is week. He also said that the actions of the <a href="http://www.kbrfx.com/terms/definition/european-central-bank-ecb/" target="_blank">ECB</a> should build confidence in the short term but only actions of the Government can build confidence in the long term. On Thursday it was announced that the <a href="http://www.kbrfx.com/terms/definition/european-central-bank-ecb/" target="_blank">ECB</a> would keep their base interest rate at 0.75%.<br />
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This week will see most of the economic data come from Germany, with the German ZEW survey on economic sentiment, a good medium term forecast of the German economy being released on Tuesday, the result set to be -10, better then the previous result of -11.5. Thursday will see Germany release their third quarter <a href="http://www.kbrfx.com/terms/definition/gross-domestic-product-gdp/" target="_blank">GDP</a> results, the figure set to be 0.1%, lower then the second quarter result of 0.3%. The Euro-zone third quarter <a href="http://www.kbrfx.com/terms/definition/gross-domestic-product-gdp/" target="_blank">GDP</a> figure will also be released with the economy set to be seen to contract by 0.1% this quarter, slightly better then the second quarter where it contracted by 0.2%.<br />
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The US Dollar gained against both the Pound and the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market last week. Unemployment claims came out a lot better then expected, 355K compared to the 367K predicted, some good news for the US jobs market. The University of Michigan consumer confidence figure also came out higher then expected, 84.9 compared to 82.9, the highest figure we have seen since July 2007, very good news for the economy. The most significant figure coming out of the US this week is year on year <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> (inflation) which is set to fall slightly from 2.1% to 2%, not a great deal of change for inflation.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-86112905269328709432012-11-09T10:35:00.000+00:002012-11-09T10:35:22.702+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday in the foreign <a href="http://www.kbrfx.com/" target="_blank">exchange market</a> the Pound saw some gains against the Euro but a slight loss in strength against the US Dollar. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.2519 before quickly dropping to a daily low of 1.2508 soon after the opening bell. It then gained some strength across the rest of the day and peaked just after lunch to 1.2561, closing the day out slightly lower at 1.2540. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened the day at 1.5984, dropping mid-morning to a daily low of 1.5929 before gaining strength in the first hour of the afternoon, peaking to a daily high of 1.6005, closing the day out slightly lower at 1.5977. Yesterday the main news was that the Bank of England will keep the base rate at 0.5% and the asset purchase target at £375B, as expected by analysts as last month third quarter GDP came out at 1%. Today will be a quiet day with no data being released from the UK.<br />
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The Euro weakened against the US Dollar and the Pound during yesterday’s market session. The EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.2767, a daily high and lost ground during the first few hours of trading, dropping to 1.2719, closing slightly high at 1.2740. Like the UK the main data from the Euro-zone yesterday was the fact that the ECB decided to keep the main interest rate at 0.75%. Today will see various pieces of information being released, the main being German <a href="http://www.kbrfx.com/terms/definition/consumer-price-index/" target="_blank">CPI</a> (inflation) which is expected to remain at 2.0%, in line with previous results showing a steady rate of inflation in Germany.<br />
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The US Dollar gained some ground against the Pound and the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. The most significant piece of data from the US yesterday were the unemployment claims which were better than expected, 355K compared to the predicted 367K showing a lower rate of people claiming unemployment insurance. Today will see the University of Michigan release their consumer sentiment results which assesses the confidence of consumers within the economy based on personal finance, business conditions and purchasing power. The figure is calculated by subtracting the percentage of unfavourable replies from the favourable ones and this month it is set to come out at 82.9, slightly higher then last months result of 82.6.<br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-63224510970761876492012-11-07T10:09:00.001+00:002012-11-07T10:09:18.818+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">During yesterday’s market session the Pound weakened against the Euro and the US Dollar with the GBPEUR r<a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">ate</a> opening at 1.2504, a daily high and fell throughout the day before closing at a daily low of 1.2469. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.5985, dropping early morning to a daily low of 1.5964, peaking around lunch time to a daily high of 1.5989 before closing slightly higher at 1.5983. Yesterday was a quiet day for data release in the UK with the most significant piece being the month on month Halifax house price index which shows the change in prices of homes financed by HBOS. The previous figure was -0.4% and the actually figure missed the 0.5% forecast, coming out at -0.7%, showing lower activity in the housing market. There will be no data coming out of the UK.<br />
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The Euro gained strength against both the Pound and the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday with the EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opening at a daily low of 1.2784 and closing out at a daily high of 1.2818. Yesterday the Bundesbank released the results for German factory orders which shows the change in total value of new purchase orders placed with manufacturers. The result came out much lower then expected, -3.3% compared to -0.3% showing that there is less activity in the manufacturing sector. Today the Greek government will meet to discuss austerity plans. They will vote and decide on whether the measures in the ‘medium term financial strategy 2013-2016’ will be implemented. There are expected to be a wave of 48 hour public sector strikes against wage and pension cuts but Prime Minister Antonis Samaras is expected to marginally win support for these austerity cuts.<br />
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The US Dollar gained some strength against the Pound but lost some against the Euro during yesterday’s market session. However this morning the Dollar quite a bit of ground against the Pound and the Euro due to the announcement of Barack Obama holding Presidency for the next four years. <br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-35681343088846279832012-11-06T10:23:00.001+00:002012-11-06T10:23:24.362+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">The Pound lost ground against both the Euro and the US Dollar during yesterday’s <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market session. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened at 1.2519, a daily high, falling for the first few hours before hitting a daily low of 1.2480 an hour before midday, closing the day slightly higher at 1.2489. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> also opened at a daily high of 1.6013, falling throughout the day to reach a daily low of 1.5957 an hour before the close of trade, closing out the day at 1.5975. Yesterday saw UK Purchasing Manager Index for services be released with the result of 50.6 being slightly lower then the predicted level of 52.0 showing there is a very small expansion within the services sector. Today will see industrial and manufacturing production showing the change in total inflation-adjusted value of output produced by manufacturers. Industrial production came out worse then expected at -2.6% and manufacturing production also came out worse but it was a positive figure of 0.1%.<br />
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The Euro gained strength against the Pound but weakened against the US Dollar yesterday with the EURUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opening at 1.2792, peaking early to 1.2807 before dropping to a daily low around lunch time to 1.2767 before closing out the day at 1.2791. Yesterday saw Spanish <a href="http://www.kbrfx.com/terms/definition/unemployment-rate/" target="_blank">unemployment</a> change being released with the result being much higher than expected, 128.2K compared to 90.3K, bad news for the labour market in Spain as this is the highest change since February this year. Today will see French, German and Italian <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> be released with the possibility of the Euro strengthening if the results surpass the predicted levels.<br />
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Yesterday saw the US Dollar gain against both the Pound and the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. The only piece of significant data coming out of the US yesterday was the ISM non-manufacturing <a href="http://www.kbrfx.com/terms/definition/purchasing-managers-index-pmi/" target="_blank">PMI</a> which came out slightly lower then expected, 54.2, but still above the 50 level showing an expansion in the sector. Today is a quiet day for economic data release but will see Americans going to the polls to vote on who will be their President for the next four years. The outcome will be very important for the economy as a whole and in the next few days we could see the Dollar swing either way depending on who wins.<br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-89914720231275680992012-11-05T10:05:00.001+00:002012-11-05T10:05:13.080+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Last week in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market the Pound strengthened against the Euro but weakened against the US Dollar. The GBPEUR rate opened at 1.2449, falling during the first half of the week to a weekly low of 1.2382 on Wednesday morning before gaining strength across the latter half, peaking Friday morning to a weekly high of 1.2505, closing out slightly lower at 1.2477. The GBPUSD rate opened up at 1.6066 gaining strength throughout most of the week, peaking on Thursday morning to 1.6175 but then slipping down and closing out at a weekly low of 1.6027 on Friday afternoon. Last week the main piece of economic information released from the UK was PMI for manufacturing which is a gauge of manufacturing activity and future outlook. It was expected to fall slightly to 48.0 but actually came out a little lower than expected at 47.5. This week will see the Bank of England meet and decide on whether to change the asset purchasing programme and base rate or keep it the same at £375B and 0.5% respectively and analysts are expecting both to remain the same.<br />
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The Euro lost ground against both the Pound and the US Dollar during last week’s market session with the EURUSD rate opening at 1.2904, peaking Wednesday morning to 1.3021 but then closing out the week at a weekly low of 1.2845. Last week there were several pieces of significant data coming out of the Euro-zone including German CPI (inflation) which was higher than expected but the same as last month, 2.0%. German unemployment was also released and came stayed at 6.9%. The Spanish government released their budget last week which saw some improvement on the previous result but still a large deficit of -€46.11. This week will see the ECB meet and discuss the base rate decision which analysts predict to remain at 0.5%. Euro-zone PPI for September will be released early this week with the data set to come out slightly lower at 2.6% compared to the previous result of 2.7% showing a decreasing rate in the change in selling prices of goods.<br />
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The US Dollar gained strength against the Pound and the Euro last week in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. The main data coming out was the unemployment rate which increased slightly from 7.8% to 7.9% and the change in non-farm payrolls which came out better then expected, increasing to 171K from 148K. This week is a very important week in US economics with Tuesday seeing Americans going to the polls to decide on who will be the next US President which will have some affect on the US Dollar.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p><br />
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<script type="text/javascript"></script>KBR Foreign Exchange PLChttp://www.blogger.com/profile/12403873484117404082noreply@blogger.com0tag:blogger.com,1999:blog-3015391616414898136.post-35712632934833376482012-11-02T10:34:00.002+00:002012-11-02T10:34:22.131+00:00Daily Foreign Exchange Market Update<span style="font-family: Verdana; font-size: 10pt;">Yesterday the Pound strengthened against the Euro and the US Dollar in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market. The GBPEUR <a href="http://www.kbrfx.com/terms/definition/exchange-rate" target="_blank">rate</a> opened the day at 1.2466, gaining strength over the first few hours of trading, peaking to a daily high of 1.2494 mid-morning. Throughout the rest of the day it then lost strength, dropping to a daily low of 1.2441 early afternoon, closing slightly higher at 1.2474. The GBPUSD <a href="http://www.kbrfx.com/terms/definition/exchange-rate/" target="_blank">rate</a> opened down at a daily low of 1.6131, it then gained ground and peaked at midday to a rate of 1.6175 but then slipped across the rest of the day to close out at 1.6136. It was a quiet day for data release in the UK with the most significant piece being Nationwide house prices year on year for October showing the change in selling price of homes with mortgages backed by Nationwide and is the leading indicator of the housing industry’s growth because rising house prices attract investors and spur industry activity. Today will see Construction PMI being released, a leading indicator of economic health as it reacts quickly to market conditions. It came out this morning at 50.9, above the level of 50 which shows an expansion in the construction industry.<br />
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The Euro lost ground against the Pound but strengthened against the US Dollar in yesterday’s market session. The EURUSD r<a href="http://www.kbrfx.com/terms/definition/exchange-rate" target="_blank">ate</a> opened the day at 1.2939, falling sharply to a daily low of 1.2924 early morning, before quickly gaining back the strength and peaking to 1.2983 at midday, closing the day lower at 1.2935. The main piece of information coming from the Euro-zone yesterday was Ireland’s unemployment rate for October which stayed at 14.8%, a much higher result then the rate of 4.5% seen pre-banking crisis in June 2007. Today has seen Euro-zone PMI for manufacturing come out with the result only slightly better then the previous result, 45.4 compared to 45.3 last month, still below the headline figure of 50.<br />
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The US Dollar weakened against the Pound and the Euro in the <a href="http://www.kbrfx.com/" target="_blank">foreign exchange</a> market yesterday. This came off the back of consumer confidence and ISM Manufacturing results that were better than expected. Today will be a big day for the US economy with jobs reports coming out later today. The <a href="http://www.kbrfx.com/terms/definition/unemployment-rate/" target="_blank">unemployment</a> rate is set to slightly increase from 7.8% to 7.9% and the change in non-farm payrolls which is actually set to rise from 114K to 125K.<br />
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<span style="font-family: Verdana; font-size: 10pt;">This <a href="http://www.kbrfx.com/daily-market-update" target="_blank">Daily Market Update</a> is brought to you by The Market Team @ <a href="http://www.kbrfx.com/" target="_blank">KBRFX</a> – <a href="http://www.kbrfx.com/personal" target="_blank">Exchange Rate</a>, <a href="http://www.kbrfx.com/personal" target="_blank">Currency Conversion</a> & <a href="http://www.kbrfx.com/business" target="_blank">Foreign Currency Transfer</a> specialists.<o:p></o:p><br />
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