tag:blogger.com,1999:blog-16726359809515289522011-11-24T14:31:50.788-08:00Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.comBlogger1211100tag:blogger.com,1999:blog-1672635980951528952.post-22642761767545697562011-02-23T02:02:00.000-08:002011-02-23T02:23:25.890-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Wednesday 23rd February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6239</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1853</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6196</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3700</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8436</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3664</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The comments from Posen last night were predictably dovish, but the focus today will be on the BoE minutes and whether there were any more votes for a rate hike in February, as has been widely rumoured in the market.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Yesterday's positive UK public sector finance data was all but a temporary distraction ahead of the key UK event this week - February's MPC minutes. Although following the release of the Quarterly Inflation report, the BoE Governor appeared to go out of his way to play down market expectations that the MPC is getting ready to raise interest rates, the consensus is for another MPC member to have joined the tightening camp, leaving the voting split at 6-3 </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Some economists expect the first BoE rate rise in Q4 this year. Currently this is considerably less aggressive than forecast by the markets. According to the Sonia Curve markets continue to price in a rate hike in May. However, sentiment could turn swiftly with the second estimate of Q4 GDP, released on Thursday, also likely to be watched closely by markets.</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro was one of the strongest performers yesterday, helped partly by the less extended positioning relative to many other currencies, but mostly by the comments from Mersch and Wellink indicating the risk of higher rates and/or removal of special liquidity measures from the ECB.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German consumer confidence is rising as workers expect wages to increase in 2011, according to a survey by market research group GfK. The data came after a survey on Monday showed an increase in business confidence.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Despite some positive UK borrowing figures the single currency was on top again yesterday amid heightened expectations of an EU rate rise. However, sterling soon turned lower following hawkish comments from European Central Bank policymaker Mersch. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD finished net stronger on the day in Europe yesterday, with weakening equities late in the day restoring a bid after a modest rally in the European morning, but has fallen back again in Asia overnight.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Following a strong lift in US existing home sales in December we look for a modest 0.6% fall in January. While an improving US economic outlook may entice some households back into the market, the expiration of the home buyer's tax credit stimulus measures is expected to weigh on the short-term outlook for sales.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The crisis in Libya was very much in focus yesterday with sterling losing ground to a broadly stronger US dollar. Sterling's losses were exaggerated as the market has been positioning for a UK rate rise in the coming months, which has been the primary factor underlying recent sterling strength. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-2264276176754569756?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-32547921104904295022011-02-22T01:51:00.000-08:002011-02-22T01:54:15.417-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Tuesday 22nd February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6171</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1916</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6138</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3684</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8391</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3543</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Focus in the UK turns to the latest public sector finance figures. Due to a rise in VAT receipts and corporate tax revenues, it is expected public sector net borrowing to post a surplus of £1.1bn for January. This should provide a temporary distraction ahead of tomorrow's key MPC minutes, where the markets are braced for another MPC member to have joined the tightening camp.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">We have had Sentance and Weale putting forward the hawkish case in the last couple of days, and we have Posen to put forward the dovish case tonight, but none of this changes anything substantive. The minutes tomorrow are the next major focus, and market gossip is assuming the vote shifted 1-5-3.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling has found itself in a stronger position against the euro this morning following Weale's comments on Monday saying that a small rate rise could reduce the need for a bigger rise later. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The German IFO business climate index and the Eurozone manufacturing PMI both topped expectations in February, with the latter hitting a new two-year high on surging exports and rising consumer spending. The recovery in Europe is being led by manufacturing which is, of course, something of a global theme. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro continues to show tremendous resilience to bad news. Merkel's election defeat in Hamburg and the widening of yield spreads between southern Europe and the core have had little perceptible impact, with the Euro still reasonably firm across the board.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Of course, the strength of the Euro-zone data is helping, with the PMIs and the IFO data yesterday both indicating that the core continues to boom, and in the service sector as well as in manufacturing. But the upside for the Euro is limited as long as the problems of the periphery are not addressed with a comprehensive package. The effectiveness of this package could be compromised by a more reluctant Germany in the face of the election results, so risks are increasing. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Although US markets were closed yesterday for the Presidents' Day holiday, there was more than enough to preoccupy markets in Europe. Ongoing tensions in the Middle East and surging gold and oil prices kept investors on the defensive.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today we have the US consumer confidence report and house price figures which are expected to be mixed. While US sentiment is predicted to have posted a further improvement, the housing market remains the Achilles heel of the US recovery, with house prices forecast to have dropped again in December.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD is starting to benefit from the increase in tension in the Middle East, and there is potential for substantial USD gains, given the positioning numbers suggest the market is significantly short USD. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-3254792110490429502?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-54107721456466594562011-02-21T03:35:00.000-08:002011-02-21T03:41:36.854-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Monday 21st February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6216</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1850</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6044</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3684</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8438</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3538</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">It's all about the MPC minutes on Wednesday and with talk swirling of a hawkish shift in MPC voting and a number of bodies calling for an imminent hike in rates, the stakes for GBP continue to remain unusually high. The not so great underlying message from January retail sales on Friday is unlikely to have dampened conviction of the Bank's rate hawks. Focus now turns the minutes on Wednesday and the Feb PMIs next week for indications whether the promising start to 2011 stayed intact in February</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling markets have been whipsawed over the past week by rising speculation of a near-term rise in UK interest rates. Although there was some relief that annual CPI inflation rose to 'just' 4% in January, that relief was quickly dispelled by comments for the BoE Governor in his open letter to the Chancellor. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Traders seized on those comments as an implicit acknowledgement that the MPC was getting ready to raise interest rates. Although the Governor appeared to go out of his way to play down this interpretation when he presented last week's Inflation Report, the profile of the Bank's revised inflation forecast suggests the risks of a near-term rate rise have clearly shifted. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Against this backdrop, markets will watch domestic developments closely this week, including second estimates of Q4 GDP. But given the intensity of the UK rate debate, the minutes to February's MPC meeting will be key focus. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The key focus today is the release of the February eurozone PMI and German IFO business surveys. Both provide an indication of economic trends in the current quarter and are probably the most closely watched of all business surveys by economists and policymakers alike. Scheduled ECB speakers today are Draghi, Stark and Weber.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">French PMI services for February comes in at 60.8 beating expectations of 58.0 and the PMI manufacturing comes in as expected at 55.3. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German PMI services for February comes in at 59.5 missing expectations of 60.2 whilst manufacturing PMI comes in at 62.6 smashing expectations of 60.3.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone PMI services for February has come in at 57.2 beating expectations of 55.9 &amp; PMI has also beat expectations helping the Euro gain some momentum this morning.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The German IFO has come in as expected showing an improvement for February. Significantly, notwithstanding prospects of German government spending cuts and a modest slowdown in Chinese growth, the expectations component is holding up very well, thanks to a pick-up in domestic demand led by a relatively resilient labour market. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The short-term continues to look ominous for the dollar index and even as we move into a 5th straight day of selling and violence escalates in North Africa/Middle East, technically the picture does not yet look oversold. US markets are close today so liquidity could be poor, a reason perhaps for investors to test support in the 77.643 area. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound rose to a two-week high against the dollar on Friday following strong UK retail sales data. The pound/dollar has moved away from its high but is continuing to hold above $1.62.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tomorrow for the US we have S&amp;P Case-Schiller House Price, Consumer Confidence and Richmond Fed Manufacturing Index. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5410772145646659456?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-62486689576632164402011-02-18T02:51:00.000-08:002011-02-18T02:58:31.538-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Friday 18th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6198</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1946</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6031</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3558</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8370</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3419</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Bank of England monetary policy committee member Andrew Sentance has put further pressure on colleagues over high UK inflation in a speech. He questioned claims that unemployment and spare capacity in the UK economy would slow down price rises, which he instead blamed on strong global demand. Mr Sentance has been voting for an interest rate rise since June.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK retail sales rebounded in January after heavy snow caused a big drop in December sales, latest figures have shown. The volume of retail sales in January rose 1.9% on the previous month. Decembers monthly figure was also revised downwards to show a 1.4% monthly drop - the biggest December fall since records began.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK mortgage lending fell by 13% in January compared with December to the lowest level for a year at £9.2bn, lenders have said this morning. The mortgage market is likely to remain constrained in the coming months reflecting the sluggish state of the UK economy as a whole, as well as lack of demand.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Pound rose yesterday, following Andrew Sentance's bullish comments on interest rates. In trading this morning sterling is continuing to stretch its rally following strong Retail sales data bringing the price back above 1.19. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Reminding us that inflationary pressures are not just a UK phenomena, German PPI for January is expected to show a rise of 0.7% from the previous month, taking the annual increase to 5.2%.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The ECB will be keeping a close eye to ensure that such increases do not lead to an entrenchment of increased wage expectations, driving consumer prices higher. CPI inflation in the 17 nation eurozone<br />reached 2.4% year-on-year in January, while German reached 2.0%, both above the ECB's target of just under 2.0%.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Germany has warned that the eurozone's future bail-out fund must not become a "regional development fund", despite Europe's widely diverging economies. Next month the EU plans to finalise the rules for the new permanent fund - the European stability Mechanism (ESM).</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Spain's auctions were marginally disappointing yesterday, raising a little less than expected, but Portugal was an even bigger underperformer as rumours circulated that they were being pressured to accept a bailout. The big rise in the use of the ECB's marginal lending facility was also apparently EUR negative, but EUR weakness was very selective, only really showing up against the CHF. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">US prices rose 0.4% in January compared with the previous month, mostly due to rising food and fuel prices. The rate of change was the same as seen in December.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD was soft through yesterday's trading in spite of the strongest Philadelphia Fed survey since 2004, and the apparent increase in geopolitical concern apparent in declining yields in the US and elsewhere.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD for the moment appears to have lost its safe haven status, with the CHF and NOK seemingly the best performers on risk negative news, and even the AUD performing well yesterday. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-6248668957663216440?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-32851307726527634392011-02-17T01:49:00.000-08:002011-02-17T01:54:06.156-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Thursday 17th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6126</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1877</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6065</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3577</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8419</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3526</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">After the excitement generated by Mervyn King's letter to the Chancellor on Tuesday, yesterday's inflation Report and in particular King's comments at the press conference were more balanced on the outlook for interest rates than many had expected. The Governor stressed that the outlook for inflation remained highly uncertain. Reading between the lines this implies that a near term rate hike is not a done deal, although it does seem that the balance of opinion on the MPC is becoming more hawkish. Next weeks minutes for the February meeting should provide some further indication of the extent to which the consensus has moved.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK unemployment rose by 44,000 to almost 2.5 million in the three months to the end of December. The unemployment rate is now 7.9%, with youth unemployment running at 20.5%. The number of people claiming Jobseeker's Allowance also increased, by 2,400 last month to 1.46 million.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">On Friday we have Retail Sales data. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Spain's long-dated bond auctions will attract attention but the long-term commitment of China to support Iberian debt means that, relative EU spread differentials aside, supply should pass without too many glitches. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Jens Weidmann has been named to take over the helm of the Bundesbank, running the central bank of Germany in Europe's strongest economy. As the head of the Bundesbank Weidmann is expected to have a strong voice at the ECB. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tomorrow we have German PPI figures. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The PPI figures for the US published yesterday showed a second successive rapid rise. However, this was mostly down to a big hike in the food and energy component reflecting the run up in oil and agricultural prices. More positively there was little sign of this being passed through into a more general rise in prices. It is expected a similar story will come out of today's CPI data. The headline figure is expected to be up by 0.4% on the month.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">However, despite their concerns about the increase in producer prices, analysts said that there were a number of other factors helping to keep a lid on inflation. On Wednesday, separate figures showed that industrialproduction slipped in January, and signals from the housing sector have been mixed recently. At the same time, the unemployment rate is proving difficult to bring down. Last week, the Federal Reserve chairman Ben Bernanke said the US unemployment rate would not return to pre-financial crisis levels for "several years". </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Initial Claims and Philly Fed survey likely to be the movers of the day unless the jump in PPI is repeated in CPI. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-3285130772652763439?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-53916712749889592082011-02-16T02:14:00.000-08:002011-02-16T02:18:02.823-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Wednesday 16th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6145</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1913</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6141</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3549</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8399</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3547</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">A choppy day for sterling markets yesterday, as initial relief that the January CPI came in at 'just' 4.0% gave way to fears of a near term rate hike following comments in the BoE Governor's latest open letter to the Chancellor. The Bank of England Governor appeared to give credence to the market's view that the MPC will raise interest rates by 25bp by May, noting that 'under the assumption that Bank rate increases in line with market expectations' inflation is as likely to be above 2% as below over the medium term. However, the letter was not an unequivocal endorsement of this view.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Focus now turns to today's all-important inflation report for a clearer steer on the policy outlook. Although Governor King has already given a strong clue as to the profile of its pivotal inflation fan chart, the tone of the report and, more importantly, the comments made by king in the accompanying press conference will be instrumental in guiding market sentiment. Expect another choppy day.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK unemployment rose by 44,000 to almost 2.5 million in the three months to the end of December. The UK unemployment rate is now 7.9%. The number of people claiming Jobseekers Allowance increased by 2,400 last month to 1.46 million. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro may have benefited slightly from the agreement that the ESM will have a full EUR 500bn to play with, though this was hardly unexpected, and isn't relevant until 2013. Weaker year-on-year Greek GDP growth is perhaps more relevant, but as the market is already assuming some sort of Greek restructuring, didn't have a significant impact.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The eurozone economy grew by 0.3% in the final quarter of 2010, slightly weaker than expected. This was the second quarter of 0.3% growth in the 16 countries using the euro at the time.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The growth figure for the 27 countries that make up the EU as a whole was 0.2% in the fourth quarter. For 2010 as a whole, GDP increased by 1.7% in both the eurozone area and the full EU area. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US, the main focus today will be the January PPI report. We expect PPI inflation to have slowed from an annual 4.0% in December to 3.5%, with the core rate at just 1.2%.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US housing starts and industrial production are also due. These are expected to confirm that the expansion continues apace, with housing starts forecast to rise to 555k and IP by 0.7%m/m. This will be the first with the new (more hawkish) voting panel.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US sales rose by 0.3%, less than analysts' expectations of a 0.6% increase, as extreme weather in large parts of the country kept some shoppers at home. On an annual basis retail sales were up 7.8% from January 2010. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5391671274988959208?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-9487377127703975382011-02-15T01:52:00.000-08:002011-02-15T01:55:17.687-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Tuesday 15th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6054</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1865</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6006</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3530</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8427</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3490</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's economic calendar is a busy one with UK CPI inflation taking centre stage. The UK CPI numbers have the capacity to be a big market mover, particularly ahead of tomorrow's key Bank of England Inflation Report.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">It is expected higher food and energy prices to have lifted the annual CPI up from 3.7% to 4.0% in January, in line with the market consensus. The big uncertainty is how much of the VAT increase at the start of the year has already been passed on by retailers, and how this compares with the impact of the 2.5ppt VAT increase in January 2011.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Looking ahead of the week we also have Unemployment, CBI Trends Total Orders and Retail sales figures </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone GDP Q4 figures were released this morning which have showed that both the French and German economies both grew in the fourth quarter of 2010, but by slightly less than expected.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In Germany, the economy grew by 0.4% in the final three months of the year. For 2010 as a whole, the German economy grew by 3.6%</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The German ZEW survey will also be released later this morning. It is expected that this will show further signs of recovery. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US the calendar is dominated by January retail sales and the February Empire manufacturing surveys. Robust improvements are forecast in both, further raising the upside risks to Q1 GDP. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US President Obama has unveiled his 2012 budget, describing the proposal as a "down payment" on future cuts to the US budget deficit. The budget aims to cut $1.1tn from the US deficit over a decade. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Towards the end of the week we have CPI and Philadelphia Fed Survey. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-948737712770397538?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-16389036200347221262011-02-14T02:48:00.000-08:002011-02-14T02:51:51.967-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Monday 14th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.5994</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1886</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.5969</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3455</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8412</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3434</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">A big week for sterling with the Inflation report on Wednesday having potential to significantly change market expectations on rates. With three rate hikes priced in for the year, it is hard to see how more gets priced in ahead of the QIR, suggesting some downside potential for sterling in the run-up to the Report. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In addition to the report, the UK's consumer prices, employment and retail sales figures are all due, which should provide a better picture of the country's economic health.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">It is expected that the pound will climb against the euro through the week, particularly as eurozone bond yields start to widen again, but could struggle to push far against the US dollar. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">After a month of broadly improving sentiment, last week saw Eurozone bond markets start to lose their nerve again. Performances were mixed with Spanish spreads over German Bunds rising modestly, but significantly back over 200bps. Irish spreads also rose further as Finance Minister Lenihan delayed bank recapitalisation, reawakening concerns for senior bond holders. Portugal saw the sharpest rise with yields on its ten-year debt appearing to make a decisive break above the psychologically important 7.00% following a poorly received syndication earlier in the week.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone finance ministers have an opportunity to repair this damage as they come together for today's Eurozone finance minsters meeting (ahead of the full Ecofin meeting tomorrow). Today's meeting will give ministers Schaeuble and LaGarde the chance to convince their peers of the virtue of common Eurozone economic governance. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Ahead of the meeting's conclusion today, the Eurozone posts industrial production for December. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD has benefited from a combination of outflows from Asia and other EM, rising yields and heavy short positioning in the last few days, and as long as US yields hold current high levels it is hard to oppose USD gains. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The US trade deficit ballooned in 2010 by the largest amount seen in a decade. The Trade deficit - the difference between imports and exports - hit $497.8bn lat year, up 32.8% on the year before, the biggest annual percentage gain since 2000.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound slipped back against a broadly stronger US dollar on Friday amid a rise in risk aversion, briefly taking the price below $1.60. In a addition the recent spate of US economic data has been supportive for the greenback. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-1638903620034722126?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-79620566999666226112011-02-11T02:25:00.000-08:002011-02-11T02:32:12.235-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Friday 11th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6026</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1851</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6070</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3522</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8437</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3559</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">As expected the BOE left interest rates on hold after the MPC meeting. However, this is very unlikely to halt speculation about a near term hike in rates. The BOE's announcement didn't give us any fresh information on the relative probabilities that they would give to downside risks to growth compared with the upside risks to inflation.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Attention will now focus upon next week's Quarterly Inflation Report to see what that reveals about these topics. Then the following week we will see the publication of the minutes for yesterday's meeting which will tell us which way the 9 members of the MPC voted and whether there was any increase in January's two votes for an immediate rate hike.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK Producer Price Index Input for January month-on-month comes in at 1.7% beating expectations of 1.4%. The year-on-year figure is 13.4% beating expectations of 12.7%. UK PPI output for January month-on-month came in at 1.0% beating expectations of 0.5%. The year-on-year figure comes in at 4.8% beating expectations of 4.4%. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro is experiencing a few distractions of its own, with the succession of Trichet at the ECB helm generating a great deal of debate whether the currency and euribor/bund curve should be priced according to perhaps less hawkish credentials of the potential candidate to Weber.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Portugal has denied it will struggle to raise capital from international investors after yields on Portuguese government debt hit record highs. Earlier, the ECB intervened to buy Portugal's debt after yields rose sharply. The rise in yields renewed concerns Portugal may need financial assistance.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German CPI for January month-on-month comes in at -0.4% modestly higher than forecasts of -0.5%. The year on-year figure is 2.0% higher than expectations of 1.9%</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today we have the US trade balance for December which is expected to show yet another huge deficit on the month. The dollar has been showing some strength of late on the back of stronger economic numbers. However, this data will highlight the continued massive trade gap between the US and the rest of the world and in particular China.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Just as interesting as the overall balance will be the relative performance of exports and imports. US exports have been growing strongly but there is a risk that the December figure will be hit by the cold weather. A weak figure for exports or a strong one for imports would also hint at the possibility that the initial strong GDP gain for 2010 Q4 might be revised downward. The rise in Oil prices provides a further potential upside risk to the trade numbers.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US posts $49.8 billion budget deficit in January, smaller than $56.2 billion expected. Prior reading was -$42.6 billion. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides</span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;"><a href="http://www.imsfx.co.uk/">www.imsfx.co.uk</span></a><span style="font-family:arial;font-size:85%;"></span></a></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-7962056699966622611?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-68255765251659673142011-02-10T01:52:00.000-08:002011-02-10T02:11:46.978-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT -</strong> Thursday 10th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><strong><span class="style2"><span style="font-family:arial;font-size:85%;"><span class="style6">1.6051</span></span></span></strong><br /><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1773</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.5979</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3633</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8493</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3572</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The MPC announces its latest monetary policy decision at noon. It is widely expected that interest rates will remain at 0.5%, but two members voting for a rate hike last month with some others describing the decision as "finely balanced" adds some spice. Markets are pricing a small chance of a rise. An 'on hold' decision would likely see no accompanying statement and attention would shift to next week's Inflation Report</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Although the inflation projections here are likely to be higher in the short-term, the profile should still see inflation falling below target from next year as temporary price effects fall out. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Ahead of today's decision we see December's industrial output. Official estimates for Q4 implied a rise in manufacturing output in December, which underpin the consensus call for a gain of 0.4%. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro showed general strength yesterday, though without any obvious reason. If anything this appears to be a continuation of the squaring of short EUR positions that we have seen in recent weeks, though focusing more on the crosses than the USD. This doesn't appear to have been triggered by any particularly positive news from the EU periphery - if anything the opposite is true - but for now the market focus is elsewhere, and as long as the focus is on risks of higher rates and inflation, positions based on these risks are likely to be unwound. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Italian Industrial Production for December month-on-month comes in at 0.3% beating expectations of 0.2%. The year-on-year figure is 5.4% beating expectations of 4.5%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound dropped half a cent yesterday against a broadly firmer euro although the price is recovering this morning. This followed from UK trade deficit figures which did not do the pound any favours. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Bernanke's comments yesterday produced little net reaction in the USD, though the main thrust of his statement that high unemployment and low inflation still justified very easy Fed policy was initially seen as USD bearish. He provided no real justification for the statement that the USD looked "a little more attractive", but may have been referring to the recent modest movement of yield spreads in the USD's favour. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling tracked a rise in the euro/US dollar pair, but gains were limited as traders noted that the market may have overestimated the chance of UK interest rate rise this month, heightening the downside risks to the pound. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US today later this afternoon we have Initial Jobless Claims, Wholesale Inventories along with International Trade Figures tomorrow. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-6825576525165967314?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-55576714905983660662011-02-09T01:58:00.000-08:002011-02-09T02:06:28.205-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT - </strong>Wednesday 9th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6090</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1790</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.5921</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3646</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8481</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3503</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound slid against most major currencies yesterday following chancellor George Osborne's announcement on an increase in Britain's tax levy on banks which has dented investor sentiment towards the UK. Following this news the pound dropped below 1.18 and 1.61 against the euro and dollar respectively. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Attention will turn to the rebalancing of the UK economy today as the final external trade figures for 2010 are published. However, against much vaunted hopes at the start of last year for net trade to contribute to economic growth, this was not the case.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK total trade balance (GBP/Min) for December in at -4831 missing expectations of -4000. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro is likely to be constrained following comments from ECB president Jean-Claude Trichet last week dampening expectations of a near-term rate hike. The big next focus for the Eurozone will be Germany and France fourth quarter GDP figures due for release on Tuesday next week. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German exports rose 0.5% in December to round out a year of strong growth, increasing 18.5% in 2010, latest figures have shown. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German imports fell unexpectedly in December, down 2.3% on November, versus analysts' forecasts for slight growth. Nevertheless, for the whole of 2010, imports rose by 20%, the Federal Statistics Office has said. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">China's rate hike briefly put the skids back under the dollar but a general lack of conviction characterised trading conditions in Asia which is understandable considering the event risk surrounding Fed chairman Bernanke's testimony today. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The main event for financial markets today is Fed Chairman Bernanke's testimony to the House Budget Committee in the US. Watchers though will primarily be scouring for clues about the developing economic outlook and future monetary policy, as, although a considered discussion about the challenging fiscal backdrop is interesting; the threat<br />of any immediate action is minimal. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The US dollar and Swiss Franc were among the weaker currencies yesterday following an ease of tensions in Egypt which has lead investors away from safe-haven currencies. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><p class="style1"><a href="http://www.imsfx.co.uk/">w<span style="font-family:arial;font-size:85%;"><a href="http://www.imsfx.co.uktel/">ww.imsfx.co.uk</span><span style="font-family:arial;font-size:85%;"></span></a></a></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5557671490598366066?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-82458856878572496202011-02-08T01:59:00.000-08:002011-02-08T02:02:24.100-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT - </strong>Tuesday 8th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6120</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1842</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.5844</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3609</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8442</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3376</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The BRC sales data overnight provided another strong January indicator to encourage the UK hawks and GBP bulls, but it is worth noting that after last February's recovery from snow four out of the next five months showed decline since the PMI. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Cautious buyers and sellers failed to give any fresh impetus to the housing market in January. All the key elements of the UK market pointed to a 'sluggish' start to the year, Rics have said. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">It was a fairly quiet day yesterday with the pound closing virtually unchanged against most major currencies ahead of Thursday's Bank of England policy announcement. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The lack of any concrete proposals from the EU Summit last Friday have helped to undermine sentiment for the Euro, even though there was no major turn in sentiment towards the periphery. The market is for the moment prepared to trust that the ESM proposal at the end of March will be sufficiently credible to bolster the Euro and prevent a renewed attack on peripheral sovereign debt markets, but there are nevertheless few<br />looking to open long positions at this level.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">While yesterday's 3.45% drop in December German factory orders was much worse than expected, economists attach little significance to this report for today's German production data. The fall in orders follows an exceptionally strong reading the previous month and does nothing to change the underlying view that manufacturing conditions continue to recover.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling briefly touched a level above 1.19 yesterday following a disappointing reading of factory based orders in Germany, which gave credence to the view that the ECB is unlikely to be shifting policy anytime soon. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">It was relatively quiet day yesterday for the pound/dollar following on from Friday's US non-farms payrolls data. Although the report was a sign of improving conditions in the US labour market, rising levels of risk appetite combined with reduced tensions in Egypt is applying some downward pressure on safer currencies. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Fed Reserve Chairman Ben Bernanke is due to testify tomorrow at a hearing of the House Budget Committee. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today we have the NFIB Small Business Optimism Index released in the US this afternoon although it is not expected this will cause much market excitement. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><p class="style1"><a href="mailto:Brokerkris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-8245885687857249620?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-15245583493662567242011-02-07T02:32:00.002-08:002011-02-07T02:34:55.213-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT - </strong>Monday 7th February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6128</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1879</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.5912</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3578</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8417</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3402</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The MPC decision on Thursday obviously casts a shadow over the market. The 20% odds of a rate hike will appeal some investors to hold on to their coveted long positions in the hope that the MPC does catch the market cold. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">December industrial production data are published the same day, where forecasts stand at +0.4% month-on-month. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">BRC retail sales are due tomorrow (for January so first read of VAT impact). </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The ECB's Nowotny allegedly 'accidentally' disclosed the ECB's updated CPI forecast one month ahead of publication, but it is ECB colleague Weber who will steal the spotlight today. Though Trichet seemed to backtrack last week from his (hawkish) January council comments, Me Weber has been cast in an uncharacteristic conciliatory position and so it may fall to the Bupa president to pour more cold water on bubbling rate hike expectations potentially taking out a few more EUR longs. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Market attention today turns to German factory orders data for December, where we look for a month-on-month decline of 1.3% following a hefty 5.2% increase in November. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">European Sentix Investor Confidence for February comes in at 16.7 beating expectations of 14.0</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Focus will be on global rebalancing, with both China and the US due to release their latest external trade figures. The data are expected to make for mixed reading. While China's trade surplus is forecast<br />to show a further decline, there is also a clear risk of a spike in the US trade deficit as sever weather disruption(clearly evident in last week's payrolls data) temporarily depresses US exports. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US unemployment fell in January to 9% from 9.4%. It is the second such monthly fall, after unemployment fell from a rate of 9.8% in November. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">This afternoon we have NFIB small business Optimism Index in the US. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-1524558349366256724?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-30745576593810833152011-02-07T02:32:00.001-08:002011-02-07T02:32:27.133-08:00<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-3074557659381083315?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-34848392017871072702011-02-03T02:34:00.000-08:002011-02-03T02:39:12.348-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT - </strong>Thursday 3rd February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6249</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1791</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6026</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3782</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8482</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3594</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">After falling sharply in December due to weather disruptions, UK Manufacturing and Construction PMI surveys rebounded in January. UK Services PMI has also come in this morning a lot better than expected at 54.5 versus an expected 51.3. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Following yesterdays impressive Construction data the pound rose to its highest level against the dollar in three months. The index rose to 53.7 in January, beating forecasts of 49.9. A reading above 50 indicates growth. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK official reserves come in at -384 versus 976 previous. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The key highlight in the euroarea today is the ECB's interest rate announcement and in particular the subsequent press conference. President Trichet is expected to repeat the theme of rising inflationary risks, although stop well short of signalling any imminent change, particularly before the key quarterly meeting in March. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone consumer prices accelerated to a two year high in January and pipeline price pressures are already evident. With oil prices having risen further in January, there is significant risk that headline consumer prices will accelerate further. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone Retail Sales come in at -0.6% month-on-month and -0.9% year-on-year versus 0.5% month-on-month and 0.2% year-on-year expected.</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">While markets remain preoccupied with Friday's non-farm payrolls on Friday, the US ISM non-manufacturing index today is expected to reconfirm the continued recovery in the services sector. Although we expect the index to be broadly unchanged in January at 57.2, compared to 57.1 in previous month, this still signals that the sector is expanding. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">A fairly static session yesterday and general apathy to commit to a strong directional view overnight does not come as a surprise as investors lighten up ahead of the payrolls release tomorrow. Having said this, the dollarindex has found a more stable footing on the back of the manufacturing ISM and so a stronger non-manufacturing ISM this afternoon should translate into higher UST yields.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">With the political unrest in Egypt taking another turn, we think risk assets are not going anywhere until tomorrow afternoon and could be challenged by a hawkish ECB. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-3484839201787107270?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-74499531398949711622011-02-02T02:55:00.000-08:002011-02-02T02:59:02.768-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT - </strong>Wednesday 2nd February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6227</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1726</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6044</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3838</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8527</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3684</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today we have the construction PMI survey. December's activity index dropped below the breakeven '50' level to 49.1 for the first time since February 2010. January's survey should provide a gauge of the weather impact. This in turn may provide something of a precursor for tomorrow's more significant services PMI survey. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">You cannot argue with the strong January manufacturing PMI but the disparity with very weak December mortgage lending and M4 money supply data (snow related?) puts the UK economy on two different tracks but is a conundrum that will test the MPC's patience. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK manufacturing in January expanded at its fastest pace since records began in 1992. Employment in the manufacturing sector also rose at the fastest pace since the records began. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Speculation surrounding an enhanced EFSF is inevitably getting positive traction in EU periphery debt and EUR crosses and though one could argue that on this basis EUR/USD should be trading closer to 1.40. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Unemployment in the eurozone remained at 10% in December, unchanged from the month before. The figure for the European Union as a whole also remained unchanged from November at 9.6%.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Yesterday sterling reached up to 1.1750 early trading and closed the day virtually unchanged. This morning pound/euro continues to hover around 1.17. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's economic calendar provides something of a breather in an otherwise busy week. Top of the slate will be the US ADP employment survey. This is often characterised as the least worst indicator of US non-farm payrolls. Last month, the ADP struggles to live up to even this description. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Yesterday's ISM recorded a sharp rise in the employment index to 61.7. Tomorrow's non-manufacturing index, which is more important as it covers a larger workforce, has been more subdued than its manufacturing counterpart. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US factory output increased at its fastest pace in seven years last month. It was the 18th month in a row that the sector has shown expansion. The latest reading is the highest since May 2004. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-7449953139894971162?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-75292954627892529322011-02-01T02:08:00.000-08:002011-02-01T02:11:31.355-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT - </strong>Tuesday 1st February 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.6117</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1721</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.6024</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3660</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8527</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3666</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's UK manufacturing PMI will provide an early taster of how conditions in the sector are faring in Q1. Manufacturing has been a rare source of strength in recent months, with the headline PMI rising to a near 17-year high of 58.3 in December. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Attention will also be on the UK M4 money supply figures. Although there has been some improvement in the underlying measure, the headline decline in M4 still makes a strong argument for the MPC not being panicked into an early interest rate increase. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling was exceptionally strong yesterday, primarily it seems because of end month demand, but it may may also have been boosted by Weale's justification of his hawkish January MPC stance in yesterday's press. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro has held up well under pressure from Mid-east risk concerns, and widening yield spreads over the US combined with a decline in EU periphery pressure, underlined by the absence of any ECB buying of bonds last week for the first time in 3 months, suggests further upside scope. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Trichet is speaking today but is unlikely to reveal anything ahead of the ECB meeting on Thursday, though this if anything probably carries a risk that current hawkish market expectations are pared<br />back.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;"> </span><span style="font-family:arial;font-size:85%;">Eurozone PMI manufacturing for January comes in at 57.3 beating expectations of 56.9</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today we have the release of the January manufacturing ISM in the US. After yesterdays strong jump in the Chicago PMI the odds of a strong improvement in the ISM have shortened. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">There are risks that the "march of a million" planned for today in Alexandra reignites market jitters about the Egyptian situation, and this would tend to benefit the USD, especially since yesterday's activity saw the USD come under pressure for month end hedging reasons. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Nevertheless, the risks are two way, since rate spreads have moved against the USD in the last two days so the USD is still vulnerable if risk appetite returns in earnest. Otherwise, there will be some focus on ISM, particularly the employment component ahead of the employment report on Friday since the last reading was disappointingly weak. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-7529295462789252932?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-27850637191428616472011-01-31T01:53:00.000-08:002011-01-31T02:06:30.183-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>IMS FX DAILY MORNING REPORT - Monday 31st January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.5864</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">1.1640</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><span class="style6"><strong>1.5970</strong></span><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> <span class="style6">1.3629</span><br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> </span><span class="style6"><span style="font-family:arial;font-size:85%;">0.8591</span></span><br /><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;"><span style="font-size:85%;"> <span class="style6">1.3720</span></span></span></span></strong><span class="style2"><br /><br /><strong><span class="style6" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Despite the World Economic Forum, the State of the Union address and the FOMC announcement, It was the UK that provided most shockwaves to markets last week with the startling collapse in Q4 economic activity, followed by news that the MPC nest contained another hawk. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">A dangerous week lies ahead for GBP with the PMIs obviously taking centre stage and taking on added importance following the collapse in consumer confidence to levels last seen around Q1-09. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The confidence of UK consumers in the economy and their finances suffered its biggest monthly drop in 16 years. Rising VAT was a key factor behind the "astonishing" confidence fall, the GfK NOP Social Research report said. More government austerity measures and the surprise contraction in the economy meant talk of a double dip recession was "unavoidable", the study said. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The eurozone posts preliminary estimates of January's CPI. Notwithstanding the surprisingly soft reading in last week's German numbers, we see the risk of rising food, energy and other commodity prices pushing the currency area's rate higher, with analysts expected forecast for a rise to 2.5% from 2.2%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">preliminary numbers for Spain precede the release of the eurozone aggregate and will contain further clues. This will be particularly relevant ahead of the ECB rate announcement and president Trichet's pressconference. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German Retail Sales for December month-on-month comes in at -0.3% missing expectations of 2.0%</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">This week the focus shifts back to the international scene with US non-farm payrolls claiming the usual top spot on the economic calendar, closely followed by the ISM surveys and comments from Fed Chairman Bernanke. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US, It is expected that we will see ongoing evidence of a strengthening recovery. Analysts forecast a continued firm background for household incomes, which should prove supportive of spending in January.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US economic growth accelerated in the last three months of 2010 to an annualised rate of 3.2%. A rise in consumer spending contributed to the growth, as did falling imports. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </span></strong><br /><strong><span style="font-family:Arial;font-size:85%;"></span></strong><br /><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-2785063719142861647?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-54795731351885957752011-01-28T01:59:00.000-08:002011-01-28T02:06:40.418-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Friday 28th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5877<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1577<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.6005</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3714<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8637<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3825</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">At one point yesterday the market had returned to pre-GDP levels in pricing UK rate expectations, but short sterling moved off the lows by the end of the day, and we suspect it is becoming clearer that the Q4 decline in GDP is not entirely snow related, and that Martin Weales vote for higher rates in January is unlikely to be repeated in February.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling should consequently now be vulnerable to renewed declines, especially after the consumer confidence data overnight, with the 1.60 level in GBP/USD now looking hard to breach on a sustained basis, especially since the comparison of today's US GDP with UK GDP will not benefit sterling sentiment.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Next week in the UK we have indices measuring activity in three key sectors - manufacturing, services and construction - are due for release. This will likely keep sterling vulnerable to the downside. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Bini-Smaghi helped sustain the euro positive tone yesterday with his insistence that import price pressures cannot be ignored, even though the German CPI data hardly gave any reason for inflation concern.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">At the same time, a modest widening in EU periphery spreads gave less reason to be significantly EU positive. This is still the key focus over the medium term, and with EUR/USD hitting some key resistance levels yesterday and the ECB meeting and EU summit next week the upside is looking less attractive.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the Eurozone today, M3 money supply figures for December are likely to show the pace of growth accelerating, aided by improvements in private sector lending.</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dollar remains under steady downward pressure, though we are approaching some important target levels against a range of currencies. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's GDP data will be the focus, and the USD will probably suffer on any as expected or slightly weaker than expected data.</span><span style="font-family:arial;font-size:85%;"> </span><span style="font-family:arial;font-size:85%;">With a light calendar elsewhere today, the spotlight for today falls firmly on the US economy. Led by strong growth in consumer spending and exports, we are above the consensus in expecting a firmer reading for Q4 economic growth of 3.8% on an annualised basis.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The final estimate of University of Michigan confidence for December is expected to show a slight upward revision on the back of recent tax cut extensions announced by President Obama. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5479573135188595775?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-58860058138150063582011-01-27T02:07:00.000-08:002011-01-27T02:12:25.307-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Thursday 27th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5890<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1609<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.6021</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3687<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8612<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3798</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The MPC minutes brought temporary relief in GBP/G10 but the downside growth risks may well be highlighted again this morning when the CBI distributive trends survey for January is released. This is the first release of Q1 and so any evidence that retail turnover and placed orders are drifting down may bring sterling sellers back into the fold. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Yesterdays MPC minutes revealed that Bank of England policymaker Martin Weale has joined Andrew Sentance in voting for an interest rate hike. For most members the risks to inflation "in the medium term had probably shifted upwards," the minutes said. This was before Tuesday's shock news that GDP growth has contracted and a warning that inflation could hit 5%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The number of mortgages approved for house buyers by the UK's main banks fell by 10% in 2010. The BBA says its members approved just 400,000 mortgages between them. That meant the number of approvals was at its lowest level in 11 years, apart from 2008. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone survey data have remained buoyant in recent months, both at a business and consumer level. It is expected a slight improvement in today's releases of economic, industrial and services confidence for January. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The preliminary estimate of German harmonised CPI could steal the limelight however, with the annual rate predicted to breach 2% in January for the first time since October 2008</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Euro area CPI hit 2.2% in December - also a two-year high. The ECB's Bini-Smaghi and Tumpel-Gugerell will take to the stage today. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dollar index and risk assets continued to move in opposite direction overnight. The Feds decision to leave policy unchanged and frame the economy in a slightly more upbeat context added some momentum to the sell USD/buy risk trade, though risk (currencies) right now appear to stretch only as far as SEK and NOK. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's December US durable goods orders data will provide an important final piece of the jigsaw as markets look ahead to advance US Q4 GDP on Friday. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Fed yesterday again highlighted its concerns about the elevated level of unemployment. Positively, the housing market also looks to be on an improving trend, albeit from a very low base. Pending home sales have risen at a strong pace in recent months and we look for another solid rise in December based on improving general confidence. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5886005813815006358?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-80958532813776918312011-01-26T02:03:00.000-08:002011-01-26T02:07:16.608-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Wednesday 26th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5822<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1538<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5859</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3712<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8666<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3746</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><span style="font-family:arial;font-size:85%;"><blockquote><span style="font-family:arial;font-size:85%;"></span></blockquote><ul><li><div class="style2"><blockquote></blockquote>Yesterdays GDP shock diminishes Bank of England minutes impact. Although the latest GDP figure has clearly been impacted by severe end 2010 weather conditions it looks set to underpin UK rate expectations for the foreseeable future. </div></li><li><div class="style2"></span><span style="font-family:arial;font-size:85%;">Its hard to find anything positive to say about yesterdays UK GDP data. The weather effects don't account for the weakness in services in October and November, and the concern for sterling must now be that the rise in inflation in December and the rise in VAT coming in January will further squeeze growth, so that even the revised market of an August/September rate hike starts to look too hawkish.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;"> </span><span style="font-family:arial;font-size:85%;">At a time when the Governments austerity measures are increasingly on consumers' radar screens, such a softening in the growth trajectory, or at least the starting point for 2011 GDP deliberations, should leave the market in little doubt as to the profile for official rates. Following Mervyn King's latest speaking today's BOE minutes will offer some additional 'take' on the current centre of gravity on the MPC. But, while the current inflation backdrop is hardly comfortable from a policy maker's perspective, the increasing squeeze on real disposable incomes is unlikely to be entertained in the upcoming pay round negotiations. Current SONIA pricing indicates that the first 25bp hike in the Bank Rate has been pushed back to the start of Q4 from mid Q3. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Still no bad news for the Euro, though a few will look at the UK GDP data yesterday and worry that the apparent strength of the manufacturing sector in the Eurozone may not translate into particularly strong strong Q4 GDP, with the services PMIs showing a modest drop in the quarter. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dominant theme is still the fading of periphery panic, and there is nothing that will obviously derail the more positive tone on the calendar today.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German Import Price Index for December month-on-month comes in at 2.3% higher than forecasts of 1.2%. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dollar index continued to drift lower yesterday, in spite of stronger US consumer confidence data, and looks likely to remain soft into today's FOMC meeting as the market retains a broadly "risk on" tone. The USD inverse correlation with risk is likely to be retained as long as the Fed's retains its dovish stance.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tonight's FOMC minutes are therefore important, but recent comments from Bernanke and others don't suggest that the Fed is about to change its tone with unemployment still close to the highs of the cycle.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today at 3pm GMT we also have USD New Home Sales for December</span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong>If you need to buy, sell or make an international payment today then please call me for a free quote. </strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-8095853281377691831?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-90387466724961274782011-01-25T02:13:00.000-08:002011-01-25T02:15:38.567-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Tuesday 25th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5790<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1618<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5868</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3590<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8607<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3657</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Volatile conditions will put GBP to test over the next 24 hours as investors take stock of the prelim Q4 GDP release and BOE governor King's speech today, followed by the MPC minutes tomorrow. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The UK's economy suffered a shock contraction in the last three months of 2010. The economy shrank by 0.5% in the last quarter, the Office for National statistics (ONS) said. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound has continued to drop against the euro to a new three week low yesterday and continues to fall this morning following the latest GDP figures. Now trading below 1.1600.</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The purple patch continues for Euro bulls and after taking the better of 1.3635, the scene is now set for a move up to 1.3786, the November 22nd high. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German GFK consumer confidence survey for February comes in at 5.7 beating expectations of 5.4.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tough talk about keeping inflation in check from European Central Bank chief Jean-Claude Trichet also helped spur euro rally. Further support for the euro today is likely to come as buyers queue up to buy eurozone debt. Europe's bail-out is expected to be flooded with orders. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dollar index slipped below 78.0 yesterday, bringing losses since January 2010 to 4%. The index stayed soft overnight in Asia, and failure to find support around the 78.5389 Fibo area does inevitably not inspire a great amount of confidence. Direction now depends on the Fed statement tomorrow. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling managed to hold just below 1.60 yesterday but the price has fallen this morning following UK GDP figures. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-9038746672496127478?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-49136342170368450952011-01-24T01:58:00.000-08:002011-01-24T02:01:26.905-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">FX DAILY MORNING REPORT</span> - Monday 24th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5955<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1759<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.6129</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3568<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8504<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3716</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling will be a big focus this week with Q4 GDP and Bank of England governor Mervyn King speaking on Tuesday. We also have MPC minutes on Wednesday. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today Andrew Sentance speaks, and will no doubt be as hawkish as Posen was dovish on Friday, but we continue to expect a less hawkish tone to emerge in UK rates markets over the week, and this should mean sterling is biased lower. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound dropped a further half a cent on Friday against the stronger euro following on from strong German data. A German business confidence index reported a higher-than-expected figures adding support to the already buoyant single currency. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro is enjoying a period of relative calm as the EU periphery problems are put on the back burner and the market focuses on the strength of the German economy and the possibility of higher rates in the Eurozone later in the year. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">There is potential for the EU periphery issues to rear their ugly head again at any point, but there are no obvious triggers today, and with only Spanish T-bills and Italian index-linked to be auctioned this week (other than German debt) the more positive tone seems likely to continue (for now). </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's eurozone preliminary PMI survey results for January will go a long way in reconfirming the current economic strength of core countries such as Germany and France. There are a number of reasons to<br />be optimistic, in particular the stronger-than-expected German IFO last Friday, which was driven higher by increased future economic optimism. In addition, the French business confidence and own production indicators also exceeded consensus estimates. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">As equities bounced from their lows on Friday the USD resumed its downtrend, and the USD index has held below the 78.80 level where it bottomed twice in December. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The euro situation is far from riskless, but the market now appears to be focusing on prospects for yield rises rather than credit risk, and the combination of low US inflation and high unemployment means the USD will remain under pressure while this is the focus, at least as long as risk is "on". </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound regained lost ground against the dollar on Friday but pushing beyond $1.60 today could be a big ask with investors regarding the level as a good selling opportunity. This week, focus will be on the Fed's meeting starting tomorrow with the policy announcement on Thursday. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-4913634217036845095?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-71013636746892419242011-01-21T03:17:00.000-08:002011-01-21T03:24:19.753-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Friday 21st January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5902<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1756<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.6102</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3525<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8505<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3695</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK retail sales volumes rose only modestly in December 2009, dashing market expectations for a much stronger outturn on the back of shoppers bringing purchases forward ahead of the return of VAT to 17.5%.<br />However, whatever December's outturn, the 2011 landscape does not look welcoming for UK consumers, with larger taxes, soaring fuel and energy prices, reduced disposable income and, now, potentially an<br />earlier-than-expected hike in interest rates to factor in alongside deep fiscal retrenchment. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">We look for UK consumer spending growth to slump to just 0.3% in 2011 after quite resilient 1.03% gain last year. However, should interest rates rise sooner than we currently expect (we forecast a first hike in Q4), this figure could comfortably slip into negative territory. The implications for UK economic growth are clear. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">A fairly unexciting overnight session for Euro crosses with the exception of EUR/CHF as 1.30 gives way supported by budding optimism that periphery bond purchases by the EFSF could finally restore some stability. The IFO tops the calendar and after stellar gains of the past few months, the risk now must be that sentiment is starting to level off, though it may be early days for German exporters to feel any pushback from policy tightening in EM. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The German economy faces fundamentally different challenges in 2011. However, its export-led growth model continues to motor along, underpinned by resurgent global demand. There are positive signs that household spending is reviving and GDP growth prospects are upbeat for 2011. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dollar index found support in the 78.538 area as equities and commodities continue to suffer, but with the calendar fairly light today, we suspect follow through buying may well be absent as investors look ahead to next week's FOMC. </span></div></li><br /></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-7101363674689241924?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-24766518680585381772011-01-20T02:41:00.000-08:002011-01-20T02:44:54.697-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Thursday 20th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5988<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1855<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.6060</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3486<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8435<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3546</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">GBP/USD has failed to hold gains above 1.60 thus far, and Friday's retail sales data will probably be the next potential market moving event. We still see next weeks Q4 GDP and MPC minutes as key, but we continue to believe that the majority of the MPC are prepared to look through the recent increase in inflation. This should mean that UK yields ease from their current highs and bring down sterling with them. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Following the wave of Chinese economic data released overnight, today sees the focus of attention turn mainly to the UK and US, the latest CBI quarterly trends survey is released. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK unemployment rose by 49,000 to almost 2.5 million in the three months to the end of November, the ONS revealed yesterday. Most analysts as well as the government, expect the unemployment total to continue rising, in large part due to the spending cuts designed to cut the budget deficit. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Plenty of rumours and counter-rumours about plans to effectively restructure Greek debt failed to have much impact on the Euro, but the underlying positive tone remained. While the market is sceptical that there will be any near term solution which will restore confidence in the periphery, the rumours do suggest that the EU is at least addressing the issues.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;"> </span><span style="font-family:arial;font-size:85%;">There is unlikely to be any major development today though the 12:15PM Van Rompuy press conference will be focus. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the eurozone, today's data calendar is more limited with the exception of December German producer prices. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dollar recovered overnight, helped by the weaker equity market, having been soft since US yields topped up, while talk of increased diversification from China and others has also weighed. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The release of US housing market data continues today with December existing home sales. If anything, these have staged a modest recovery since the decline following the expiry of the homebuyers' tax credit last year. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Other US economic data scheduled for today include initial jobless claims where we look for a fall of 10k to a level of 435k, along with January's Philadelphia Fed Survey. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-2476651868058538177?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-84426308945495176672011-01-19T02:01:00.000-08:002011-01-19T02:04:30.250-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Wednesday 19th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5984<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1877<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5906</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3458<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8419<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3392</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Hot on the heels of Decembers 3.7% inflation reading and the UK Chancellors expression of 'huge concern' over rising prices yesterday, today's UK labour market release assumes added importance. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Fears that rising inflation concerns may force the Bank of England into a monetary policy response only make sense if wage inflation responds to rising inflation expectations. This would translate a short-term price spike to medium-term inflation pressure, hence today's news of the latest pay round (for November) will be closely monitored. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Looking at the jobs numbers, today's report is expected to further highlight why the MPC is unlikely to respond to the recent rise in inflation by tightening monetary policy. A softer labour market tone reflects an underlying economic weakness, which the MPC will be mindful of in the face of the VAT rise and the prospect of a fiscal squeeze in the months ahead. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><ul><li><span style="font-family:arial;font-size:85%;">Higher yields and receding concerns over periphery debt are supportive of the Euro but bolder statements of intent from the EU will be required to get investors looking beyond the short-term bounce and re-engage in (bullish) longer term tactical plays. </span></li><li><span style="font-family:arial;font-size:85%;">The Ecofin/Eurogroup meeting proved that we are still way off an accord and until Germany can be convinced it is expected gains will fizzle out once the broader risk rally fades. </span></li><li><span style="font-family:arial;font-size:85%;">On Friday we have German IFO business climate index. </span></li><br /></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dollar index has sunk to the lower end of the 7 week trading range and the next few trading sessions are likely to be pivotal whether the index stages a bounce back over 80.0 or instead momentum accelerates for a deeper retracement towards 77.85.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;"> </span><span style="font-family:arial;font-size:85%;">US housing starts and building permits for December risk a softer than consensus outturn in the light of some weather disruption. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-8442630894549517667?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-30639258585365959212011-01-18T01:59:00.000-08:002011-01-18T02:01:36.484-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Tuesday 18th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6041<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1973<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.6044</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3399<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8363<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3404</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The CPI rose by a record 1% month-on-month in December pushing inflation up to 3.7% year-on-year, significantly above the median for a 0.7% month-on-month and 3.4% rise on the year. The December month-on-month rise was the largest monthly gain ever seen in the index. Transport costs led the increase rising by a record monthly amount due to higher airfares and petrol. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Core inflation also edged up to 2.9% from 2.7%, also above the median. For Q4, Inflation stood at 3.4% above the BOE's November Inflation forecast for 3.2%. Overall, this report will add significantly to Inflation fears and it is likely to boost expectations that the BOE will need to respond by raising rates earlier than previously expected. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The recent rise VAT rise from 17.5% to 20% could further fuel Inflation, which has now remained above the 2% target by one percentage point or more for 13 months. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The EU Finance ministers' meeting has so far produced little of note, and it looks like the reasonable results from last weeks auctions have made the politicians assume they have time to come up with new initiatives. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">This may be a misapprehension, as the auctions were bolstered by EUR 2.3bn of ECB buying in the proceeding week, and the ECB may not provide this much support indefinitely. Nevertheless, ZEW may provide some more euro support today, and the Spanish bill auctions will be ignored, unless they are surprisingly poor. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">There is potential for the USD to gain some support from Empire Manufacturing Index today, which is the first of the January numbers which typically provide some lead on the ISM. </span></div></li><br /></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-3063925858536595921?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-82940583391820331702011-01-17T01:42:00.000-08:002011-01-17T01:47:49.532-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Friday 17th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5844<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1956<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.6017</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3252<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8363<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3396</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">House prices have dropped in 5 of the past 7 months according to Rightmove so it us no surprise that GBP didn't show great interest in the paltry January gain reported overnight. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">A big week ahead for UK data with the opportunity perhaps of stronger CPI tomorrow worth selling into ahead of expected disappointing labour market and retail sales stats later in the week.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Although the Bank of England decided to keep policy unchanged last week, we will have to wait for the MPC meeting minutes (due next week) to see how close the decision was. The minutes of the December MPC meeting included a forewarning that CPI inflation could well reach 4% by the spring and that for most members of the Committee the balance of risks to inflation had shifted upwards. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Technically, the market remains short EUR and as the 2-day EU Ecofin meeting gets underway and Germany reiterates its opposition to any expanded EFSF, we think the single currency could rapidly see ECB induced gains evaporate. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Economist newspaper has no reputation for causing tremors but its call for a debt restructuring in Friday's edition will not go unnoticed in EU political circles at the IMF prepares undertakes a 'routine' mission to Spain. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Rising fuel prices helped push annual eurozone inflation up to 2.2% in December, from 1.9% in November. On Thursday last week, the ECB left interest rates unchanged for the 20th month in a row at its monthly meeting. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">A painful week dragged the dollar index all the way down last week to the low point of the 7-week range and one must now ask the question whether a break of the 79.0 level is imminent. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">A relatively quiet week for US data is headed by key readings on the housing market, with new starts (Wednesday) and existing homes sales (Thursday) both due. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US retails sales rose in December for the fifth consecutive month, driven by holiday season demand, official figures have suggested. Sales grew by 0.6% last month compared with November, according to the US Commerce Department. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-8294058339182033170?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-44659495116886481852011-01-14T01:32:00.000-08:002011-01-14T01:40:04.797-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Friday 14th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5835<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1841<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5930</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3404<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8464<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3485</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling fell back against an all conquering EUR yesterday, but the underlying positive tone to GBP/USD remained, and looks set to persist for a bit as the high December CPI print approaches next week and the talk of higher European rates helps sustain recent UK yield rises. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Initial resistances for GBP/USD at 1.5910 and 1.5935. There's nothing to hurt GBP today but it remains vulnerable to evidence of weak service sector growth. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's data releases are firmly anchored around inflation conditions on both sides of the Atlantic. Given the sizeable output gap and relatively weak employment conditions both in the US and UK, the inflation focus is less about wages and more about imports, especially in light of the recent rises in crude oil and food prices. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Euro strength yesterday was partly about a modestly hawkish tone from ECB president 'Trichet' on inflation, partly about stops being triggered as the Spanish and Portuguese auctions turned out to be reasonable and EU periphery credit gained support from talk of German support for amendments to the EFSF.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Trichet's comments were not especially surprising, and at this stage we would not expect the rally to extend far. The recent range top at 1.3433 in EUR/USD should hold, and renewed declines may be seen in other more risk positive EUR crosses. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German CPI for December comes in as expected at 1.0%. The year-on-year figure also met expectations of 1.7%</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD weakened yesterday as the initial claims data disappointed, risk appetite remained positive and the Euro staged a sharp recovery. Most of the action in the EUR/USD was about the Euro rather than the USD, but the early euphoria about the US economy this year may be giving way to a dull assessment, despite Bernanke's comments overnight, and this won't play well for the USD if the generally more positive economic tone is more evident elsewhere, especially as other central banks are sounding much more hawkish. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US, rising energy and food prices should have had little effect on the headline CPI figure, partially mitigated by a firm US dollar in December. It is expected little movement month-on-month in either core or headline series for December. The CPI core forecast for the year to December is expected to be negligible 0.8%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Other key data from the US today will include December retail sales, which could prove to surprise to the down side given poor winter weather conditions in the North East during the holiday season. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-4465949511688648185?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-84455909550392821452011-01-13T02:06:00.000-08:002011-01-13T02:19:11.315-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Thursday 13th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5757<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1975<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5808</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3158<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8350<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3200</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today we have the Bank of England interest rate decision although it is expected that the Bank rate and APF target will remain unchanged. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Central bank meetings dominate the outlook for today. From the MPC's perspective, the latest set of minutes saw the Committee warn that risks to inflation had 'probably shifted upwards', an observation that has sent shock waves through short-dated interest rates. Whilst the risks are acknowledged posed by inflation, It is expected it would take a significant second-round inflation effect over the coming months to encourage the MPC to tighten policy . </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Novembers industrial activity is released ahead of this announcement. It is expected another buoyant month for manufacturing (up 0.6% on the month, consensus 0.4%) based on strong survey evidence. However, disappointing oil export data yesterday pose some downside risks to the forecast of a 1.0% gain in industrial output (consensus 0.5%). </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">It was quite a smooth takedown of two Portuguese auctions calmed nerves yesterday, with China admittedly playing a increasingly significant influence. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Spain and Italy are two of the PIGS tapping the market today.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The ECB will provide more of a market focus today. This reflects no greater likelihood of policy change, but simply a keen attention on Eurozone developments, particularly in the light of Spanish and Italian debt auctions this morning, and the opportunity the ECB press conference provides for further updates. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD has been a sideshow this week to commodities and China/EU bond supply and it is not expected to change meaningfully over the next 48 hours. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">PPI, initial claims and foreign trade due today followed by Bernanke's speech on small business lending. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling rose yesterday against the dollar to a one month high following positive sentiment after the Portuguese bond auction and speculation over the timing of an interest rate rise in the UK. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-8445590955039282145?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-10646119131679657842011-01-12T01:53:00.000-08:002011-01-12T01:57:30.119-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - Wednesday 12th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5656<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.2006<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5784</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3038<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8328<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3145</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling is looking well supported by a combination of rising UK rate expectations, some paring back of long USD positions, and persistent negative EUR sentiment. UK rate expectations may well continue for a little while, especially if next weeks CPI is strong, and for the moment this is seen as GBP positive, though in reality real UK rates remain the lowest of the major currencies, suggesting limited scope for GBP gains on this basis in the longer run. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In terms of economic data, the UK trade figures are released today. Consistent with strong readings from the PMI and CBI surveys, we look for a narrowing in the visible trade balance to -£8.2 bn in November from -£8.5 bn in October. It is expected this trend will gather momentum over the coming year, as exporters benefit from sterling weakness and domestic demand remains soft. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">A new study has revealed that the jobs market is 'on the road to recovery', with a very strong rise in demand for staff. The survey of recruitment consultants and employers in December found permanent staff vacancies rising at their fastest level in four months. KPMG warns the future recovery is uncertain, as the governments austerity measures take effect. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's Portuguese auction has been so well flagged it would be a major surprise if it were not gobbled up very easily. This is no doubt expected by the majority, but there may still be scope for a EUR bounce on the news. Tomorrow's Spanish auction will then be the instant focus, but this is likely to be similarly easily funded.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Portugal is set to issue bonds due in 2014 and 2020 in a bid to raise between 750 million euros and 1.25 billion euros respectively. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Portugal is likely to remain under pressure to accept financial assistance from the EU and IMF. In particular, investors remain nervous over the country's ability to meet its 2011 fiscal target. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">USD gains were limited to the JPY and CHF yesterday as risk appetite recovered after the dip in equities on Monday. There should be scope for a further risk recovery today if, as seems likely, the Portuguese auction attracts plenty of demand, but upside for the USD now looks more limited on such news as USD/JPY rallies tend to need rising US yields to drive them. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling/Dollar has been very steady this week although the pound is slowly climbing for its fourth consecutive day currently trading above 1.5650</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">There are a number of US releases this afternoon although nothing major. Primary focus will be on the eurozone as debt auctions get underway. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-1064611913167965784?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-3972616906565414162011-01-11T02:32:00.000-08:002011-01-11T02:37:06.112-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - 11th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5526<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.2017<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5797</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.2919<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8321<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3144</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">It is another light day for economic data, with only a few second tier surveys due for release. Following the overnight publication of the UK BRC retail sales monitor, and the latest quarterly report from the BCC, early attention in the sterling markets will be on digesting prospects for consumer spending and the wider economy in light of these reports. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">As David Cameron noted over the weekend, the Bank of England faces a difficult judgement as it weighs up rising short-term inflation against leading indicators of growth, which remain mixed at best.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;"> </span><span style="font-family:arial;font-size:85%;">Last weeks drop in the services PMI below the key 50 level, and yesterday's 1.3% drop in the Halifax house price index - the largest fall in three months - provide an early hint that the economy may be starting to cool. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Pound/Euro interbank rate currently trading just above 1.20s. Key levels today are the 1.2050 benchmark. If the pound can break above this we feel we could see pound/euro hitting 1.2200. GBPEUR 1.2070 resistance level will be key as this will be the sell off point if breaks through benchmark rate. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The euro rebounded off a four month low but still remained under pressure. It was mentioned by Reuters that an unnamed but senior Eurozone official suggested that Germany and France among others have been pressuring Portugal to seek financial assistance from the EU and IMF before the governments funding situation grows worse. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The single currency is under pressure in the days ahead as Spain, Portugal and Italy are scheduled to tap the debt market this week.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The interest rate Portugal must pay to borrow funds hit a fresh high on Monday, as speculation mounted it would join Greece and the Irish Republic in needing an international bail-out. The yield on 10-year Portuguese government bonds rose for the fourth consecutive day, hitting 7.16%. The country's borrowing costs have surged as investors worried over its financial health. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Fairly listless trading conditions yesterday were repeated in Asia overnight, with absence of data or events keeping the dollar index within touching distance of 81.444, the November 30th high.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The dollar had a mixed trading session as it hit a four month high against the euro before retreating slightly. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">There was a lack of any notable economic data for Monday: but there was interesting Fed commentary. The Feds Lockhart noted that seemed to echo Bernanke and support his belief in maintaining the stimulus program. In addition to which was Janet Yellen's suggestion that it may take 7 years to get the Fed balance sheet back to normal. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a></p><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-397261690656541416?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-91993793347061330242011-01-10T01:55:00.000-08:002011-01-10T01:59:25.670-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - 10th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5486<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1996<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5642</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.2909<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8335<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3039</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">EUR/GBP broke lower on Friday, and the next target is the August low at 0.8140. This is mostly a EUR story, but Cameron's indication of concern about high inflation will be grist to the mill of the UK rate hawks, and may also provide some sterling support. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the spotlight this week are UK rate expectations. Several banks have increased their rate expectations in the past week, mainly because of the persistent inflation overshoot in the UK. Sterling appears to have benefited (though most of the trade-weighted gain has been due to EUR weakness rather than sterling strength). But we retain the view that UK inflation has been caused by a variety of factors that are likely to prove temporary, and the UK domestic demand strength is not one of them. Even if UK rates do rise in these circumstances, although this is unlikely given the trend in UK services PMI, rate hikes that are based on higher inflation rather than stronger growth should not be positive for the currency. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK house prices have continued to slip, falling by 1.3% in December from the previous month, figures from the Halifax have shown. The decline was less than falls seen in the second half of 2008. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The EU periphery debt saga continues, with Portugal now reported to be under pressure to accept a bailout, though this is been denied. This weeks Portuguese and Spanish auctions are near certain to attract decent demand, but will not change market sentiment on the Euro which continues to require some more permanent credible arrangements for dealing with debt problems if it is to stabilise. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone Sentix Investor confidence for January comes in at 10.6 missing expectations of 11.8.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">French manufacturing for November month-on-month comes in at 2.2% beating expectations of 0.8%. The year-on-year figure is 5.1% beating expectations of 3.6%. French Industrial production for November<br />month-on-month comes in at 2.3% beating expectations of 1.0%</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The employment report on Friday turned out to be as expected, with the revisions and the decline in unemployment compensating for a disappointing headline number. The underlying picture is still that US growth is at trend and consequently unemployment is unlikely to fall significantly any time soon.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The US economy is showing signs of a "self-sustaining recovery", but is not growing fast enough to reduce high jobless levels, Fed Reserve Chairman Ben Bernanke has said. Mr Bernanke also said that it could take four to five years for the job market to normalise. As well as unemployment low inflation is also a concern.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">China's trade surplus shrank to an eight month low in December it has been confirmed. Imports increased by 25.6% on the same month a year earlier, leaving China with a surplus of $13.1bn ($8.4bn). Analysts said the data may give Beijing grounds to fend off US pressure for faster currency appreciation ahead of Chinese President Hu Jintao's visit to the United States next week. Many US politicians and economists accuse China of manipulating the value of the Yuan in order to boost its net exports at the expense of its trading partners. </span></div></li></ul><strong><em><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please </span><span style="font-family:arial;font-size:85%;">call me for a free quote. </span></em></strong><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-9199379334706133024?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-14480701819975534362011-01-07T02:29:00.000-08:002011-01-07T03:28:14.519-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - 7th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5459<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1902<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5577</strong><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.2988<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8401<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3088</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK services PMI was much weaker than expected yesterday,<br />and although some of this looks to have been weather related, it also looks<br />partially a genuine reflection of deteriorating service sector prospects. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling was largely unaffected as the market focused on<br />Euro weakness, but the UK numbers do stand out as weak against a general set<br />of strong numbers elsewhere in the last few weeks. Sterling is vulnerable,<br />but for the moment EUR/GBP is targeting a test of the 0.8330 December low,<br />and downside risks for sterling seem greater in cable. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Demand for home loans is expected to fall in the coming<br />months as the mortgage market continues to stagnate. Lenders believe that<br />demand for mortgages for house purchases will drop in the first three months<br />of 2011 as people delay decisions to move. These views are reported in the<br />Bank of England's Credit Conditions Survey. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">This morning it is expected that eurozone Q3 GDP growth<br />will remain unchanged at 0.4% in the final estimate. The eurozone<br />unemployment rate is also predicted to remain steady at 10.1% in November -<br />a 12 year high.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Data yesterday showed German manufacturing orders surged<br />5.2% in November, putting an upside risk to our industrial production<br />forecast. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Euro periphery debt weakened further yesterday helped by<br />an announcement of a Portuguese bond auction next week. It does seem likely<br />that the Portuguese and Spanish bond auctions will be easily funded next<br />week, but while there is potential for a Friday rally simply because <br />the speculative market must now be quite short Euro, it is hard to see how<br />the downtrend is turned without some more news on bailout arrangements<br />across the Eurozone. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The US recovery has gained some traction according to<br />recent data, with this weeks ISM surveys both showing a pick up in activity<br />in December, underpinned by resurgent production and a sharp rise in new<br />orders. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Ahead of today's December Employment Report, most<br />attention this week was taken by an astonishingly strong ADP report, showing<br />a record (since 2001) 297,000 private sector jobs added in December.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">USD strength extended across the board yesterday as the<br />combination of expectations of a strong employment report and more widening<br />spreads in the EU periphery intensified the pressure on EUR/USD. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-1448070181997553436?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-82922744530455810212011-01-06T01:57:00.000-08:002011-01-06T02:18:19.830-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT </span>- 6th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5480<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1804<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5526</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3114<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8471<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3149</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's focus will be on the UK services PMI for<br />December. Markets will hope for a positive surprise similar to that seen in<br />the manufacturing release earlier this week.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK services PMI is a dangerous number for sterling today.<br />With data elsewhere on the positive side, a weak UK number could make<br />sterling the funding currency of choice, given the hit still to come this<br />year from fiscal austerity measures.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Despite a disappointing reading of activity in the<br />UK's construction sector, sterling gained a cent against a weaker euro<br />yesterday and has touched a three-week high this morning. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Germany's factory orders for November are published today<br />and are likely to show material signs of softening in the wake of more<br />recent declines in key Asian PMI's.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Also today it is expected the Eurozone business<br />confidence indicator to rise in December based on stronger domestic surveys,<br />while the final reading of consumer confidence is also due.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">While the Euro suffered initially on strong US data, the<br />Euro tends to benefit in more benign risk conditions, and already is at<br />quite extended levels against the commodity currencies which would normally<br />benefit from risk positive news. While sovereign debt concerns remain,<br />evidence of strong growth globally will tend to moderate these concerns too,<br />and may limit negative sentiment towards the Euro. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US, this weeks jobless claims will continue to<br />drip-feed labour market news in the wake of yesterdays strong ADP payrolls<br />survey.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Claims fell to their lowest level in 2.5 years last week.<br />This will be the final teaser before tomorrows payrolls release. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD benefited from the rise in ADP employment, but<br />sustained USD gains will require some genuine belief that US rates are set<br />to rise this year, and that will require several months of payroll gains of<br />more than 300k.</span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-8292274453045581021?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-1063648717192821842011-01-05T01:57:00.000-08:002011-01-05T02:02:52.498-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX DAILY MORNING REPORT</span> - 5th January 2011</strong><br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5573<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1737<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5541</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3268<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8519<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3240</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK equity markets roared back into life after the New Year break with the FTSE-100 closing up over 100 points the first trading session of the year. Part of the optimism may have been related to a firm of economic data out during the day with the UK manufacturing PMI survey hitting a 16-year high and mortgage approvals rising slightly against expectations of a small decline.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today Construction PMI is expected to indicate that activity in the sector continues to moderate with an outside risk of the index potentially dropping into contraction territory. It is expected that over the medium term, with residential, commercial and public sector projects continuing to face headwinds, the construction sector could lag the rest of the economy in 2011.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tomorrows data sees GBP Purchasing Manager Index Services for December</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the eurozone, the markets will focus on the latest set of services PMI readings which are expected to remain unchanged on the previous month both in Germany and the region as a whole. However, with the<br />manufacturing index showing an unexpected improvement earlier in the week, there will be optimism that the recovery is gaining some much needed momentum.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tomorrows eurozone data sees the publications of consumer confidence, retail sales and German Factory orders. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone PMI services for December comes in this morning at 54.2 beating expectations of 53.7</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US, after the publication of the latest Fed minutes attention turns to the ISM non-manufacturing index, ahead of Fridays non-farm payrolls, the latest ADP employment numbers.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US data have generally been strong over the past month and markets are looking for the latest releases to confirm that this momentum has been sustained.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Federal Reserve will continue with its $600bn stimulus programme as it is not convinced by recent signs of a strengthening recovery in the US economy. The Fed did acknowledge the improving outlook, but said the programme - dubbed QE2 - would continue. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><p class="style1"><a href="mailto:Brokerkris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-106364871719282184?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-86213150359121240822011-01-04T02:28:00.000-08:002011-01-04T02:31:41.240-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Tuesday 4th January 2011<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5615<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1653<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> </span></span></strong><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong>1.5467</strong><br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3399<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8581<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3273</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling has been the worlds weakest currency in the last few weeks, and today's PMI offers an opportunity to recover. Although a rise is unlikely after the stronger number last month, and as expected above 57 would emphasise that UK manufacturing remains on track, though it is the service that is more of a concern. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The top rate of VAT has risen from 17.5% to 20% as the government looks to boost tax revenues to cut the UK's debt levels. The government says the rise is necessary to help bring down the UK's high budget deficit. The VAT rise is also a worry for the bank of England. At 3.3%, the annual rise in the consumer prices index is already well above the Banks target of 2%, and the increased VAT rate is likely to push inflation towards 4% this year, analysts say. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK mortgage approvals for November has come in at 48.0k beating expectations of 46.5k</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Euro has managed to hold its ground against the USD in spite of weakness against the more solid currencies like the CHF, NOK and SEK in the last few weeks, and the message of support from China overnight may provide some cross support today. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The eurozones manufacturing sector ended 2010 enjoying strong growth. The strongest growth was recorded in Germany, but Greece's manufacturing sector continued to shrink. Germany remained the star performer, seeing near record growth. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone CPI estimate for December year-on-year comes in at 2.2% higher than the forecast of 2.0%</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Another strong US ISM helped support the USD yesterday, and a weaker Australian PMI overnight also helped reduce appetite for carry positions. Tonight's FOMC minutes will be a focus, but it is unlikely the Fed has changed its tune much in a holiday shortened month. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterlings broad bounce is helping it against the US dollar today with the price heading back over $1.55 having slid over a cent yesterday</span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides</span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-8621315035912124082?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-58006206437677240862010-12-23T01:41:00.000-08:002010-12-23T01:44:18.584-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Thursday 23rd December 2010<br /></span></span></span><br /><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;">Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5393<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1753<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5334</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3097<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8508<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3046</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Bank of England's Monetary Policy Committee (MPC) has split three ways again over interest rates and quantitative easing (QE). Minutes of the MPC's December meeting showed that one of its none members again wanted QE to be expanded, while another continued his call for interest rates to rise to 0.75% from 0.5%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">However, eight MPC members voted for both rates and QE to stay unchanged. The banks key interest rate has been kept at 0.5% since March 2009. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The most recent figures showed that UK inflation - as measured by the consumer prices index (CPI) - rose to 3.3% in November from 3.2% in October. The CPI inflation rate has now remained above the governments 2% target by one percentage point or more for 12 months. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Greek parliament has approved next years budget, bringing in sweeping austerity measures. The budget imposes more spending cuts and tax rises, as required by the European Union and the International Monetary Fund in exchange for a bailout to tackle the country's debts. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Greece needed to approve the budget to continue to receive a $144bn bailout fund created by European countries and the IMF. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">France Producer Prices come in at 0.4% month-on-month and 4.5% year-on-year versus 0.4% month-on-month and 4.4% year-on-year expected. French Consumer Spending comes in much better at 2.8% month-on-month and 1.5% year-on-year. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The US economy grew at an annualised pace of 2.6% in the third quarter of 2010, slightly faster than the previous estimate of 2.5% figures yesterday revealed. However, the rate was lower than expectations. Last month, the Fed said it would pump $600bn into the economy. The policy, dubbed QE2 because it is the second round of quantitative easing , is designed to boost the economy's fragile recovery. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US house price index month-on-month for October has risen 0.7% versus -0.2% expectation. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Existing home sales for November has risen by 4.68 million versus 4.75 million expected. Sales were 4.43 million in October. And lastly, US existing home sales month-on-month for November rise 5.6% versus 7.1% expected. Sales have fallen 2.2% in October</span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5800620643767724086?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-90924943214182558902010-12-22T02:18:00.000-08:002010-12-22T02:24:23.636-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Wednesday 22nd December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5443<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1764<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5475</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3128<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8517<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3152</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound took a nosedive yesterday during the morning<br />session although did recover in later trade to close back up at 1.18. The<br />drop came after some disappointing public sector net borrowing figures,<br />however, the euro soon began to falter with rumours circulating about<br />potential downgrades in Europe. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The UK economy grew less than previously estimated<br />between July and September, revised figures have shown. The Office for<br />national Statistics said UK GDP expanded by 0.7% in the third quarter, down<br />from its earlier estimate of 0.8%. It blamed the revisions on weaker growth<br />in the construction, business services and manufacturing sectors. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Bank of England voted 1-7-1 to keep interest rates on<br />hold at a record low of 0.5% and asset purchase plan at 200bn pounds. Posen<br />kept his demand to increase the plan by a further 50bn pounds whilst<br />Sentance voted to raise interest rates to 0.75%. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Following on from Frances scare on Monday, Moody's Credit<br />Rating Agency said that they may downgrade Portugal if the country is unable<br />to bring its books to order. This follows downgrades to both Ireland and<br />Greece. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German Import Price Index for November month-on-month<br />comes in at 1.2% beating expectations of 0.5%. The year-on-year figure is<br />10.0% higher than the expected 9.3%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Italian Consumer Confidence for December comes in at<br />109.1 beating expectations of 108.3. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Pound held its steady downward trend against the<br />dollar yesterday following on from the weaker than expected high public<br />borrowing figure currently trading below $1.55. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Later today in the US we have third quarter GDP figures<br />along with Existing Home sales. Tomorrow we have Durable Goods Orders and<br />Personal Spending figures to cap off the week. </span><br /><span style="font-family:arial;font-size:85%;"></span></div></li></ul><p class="style2"><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span></p><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /><br /><br /><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a></p><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-9092494321418255890?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-66438785578369948092010-12-21T03:59:00.000-08:002010-12-21T04:02:11.120-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Tuesday 21st December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5477<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1762<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5536</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3158<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8501<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3208</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">A very quiet day yesterday although the pound did manage<br />to edge higher against the euro amid concern European nations will struggle<br />to raise funds and as the Confederation of British Industry said the Bank of<br />England will start raising interest rates within six months.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The amount of new public sector borrowing hit a fresh<br />record high in November, according to the Office for National statistics<br />(ONS). The latest figures are likely to raise concerns about the governments<br />efforts to reduce the UK's budget deficit. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK home sales fell in November as the property market<br />showed little sign of fresh life at the end of the year. The most recent<br />surveys from the Nationwide and the Halifax showed that prices fell in<br />November compared with October. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Spain is slowly emerging from recession but needs to cut<br />spending further and introduce labour market reforms. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">There has been much speculation recently that Spain might<br />need to ask for financial assistance from fellow European Union (EU)<br />Members. This follows the joint EU and International Monetary Fund (IMF)<br />bail out of the Irish Republic agreed last month, and a similar package<br />agreed with Greece earlier this year. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German consumer confidence has slipped slightly as<br />expectations grow that the country's strong recovery will moderate next<br />year. This follows from a separate survey carried out last week which<br />suggested German business confidence was at a fresh, 20 year high. Germany<br />is driving the eurozone's fragile economic recovery. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Price movements yesterday were minimal, with many<br />investors on the sidelines until the new year. It is expected to remain<br />quiet until year end. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Japan has kept its key interest rate at between zero and<br />0.1% as policymakers continue to try to bolster the country's fragile<br />economic recovery. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Japan has been suffering from a strong yen, weak exports<br />and almost two years of falling prices. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides</span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-6643878557836994809?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-49828199746000114562010-12-20T03:00:00.000-08:002010-12-20T03:06:29.927-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Monday 20th December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5542<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1821<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5700</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3342<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8456<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3284</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The CBI has downgraded its forecast for UK economic growth in the first quarter of 2011. The employers group expects growth of 0.2%, down from 0.3%, as public sector job losses and higher-than-expected inflation slow the economic recovery. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The CBI also expects the Bank of England to start raising interest rates from the spring of next year. However, it does not see the UK falling back into recession, and predicts second quarter 2011 growth of 0.4%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Mortgage lending fell 5% in November compared with the previous month and was 10% down on a year ago, lenders say. Gross mortgage lending stood at an estimated £11.1bn - the lowest figure since April, the Council of Mortgage Lenders (CML) said. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The European Central Bank has expressed concerns that the Irish Republics 85bn euro bail-out package could affect its ability to provide further support to eurozone members. On Friday, credit rating agency Moody's cut sharply the Republics debt rating. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">November German PPI data are forecast to show a fourth successive rise in the annual rate, with a reading of 4.6% marking a two-year high. The upward pressure largely reflects external factors, with import prices (dueout on Wednesday) rising at around twice that pace, buoyed buy higher energy prices and the softer euro. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In trading this morning, the ongoing concerns of credit downgrades and concerns from ECB president Trichet are serving as catalysts to keep the single currency pressured.</span><br /><strong><span style="font-family:arial;font-size:85%;"></span></strong></div></li></ul><p class="style2"><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong></p><ul><li><span style="font-family:arial;font-size:85%;">The pound briefly fell to a three-month low against a broadly stronger US dollar at the end of last week following an announcement from Lloyds TSB. </span></li><li><span style="font-family:arial;font-size:85%;">Adding to dollars strength, the market remained concerned that the ECB has not done enough to prevent the eurozone crisis spreading.</span></li><li><span style="font-family:arial;font-size:85%;"> </span><span style="font-family:arial;font-size:85%;">It is expected that the dollar positive environment will remain the dominant theme in this Christmas week with a potential drop in euro/dollar likely to drag this pair lower. </span></li><br /></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-4982819974600011456?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-59774631713308085642010-12-17T02:45:00.000-08:002010-12-17T02:49:19.474-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Friday 17th December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5634<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1718<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5821</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3342<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8533<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3501</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The continuing financial problems in the eurozone pose a<br />threat to UK banks, the Bank of England has warned. In its latest<br />half-yearly financial stability report, it called for stringent new tests on<br />the strength of European lenders. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Bank of England is concerned about the continuing<br />debt situation in the eurozone - the 16 nations that share the euro -<br />because UK banks have substantial investments in may of those countries. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound did take a boost yesterday following UK retail<br />sales data rising to 0.3% in November broadly in line with expectations.</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The German IFO survey of business sentiment is the pick<br />of the day. Following the unexpectedly sharp rise in the headline index last<br />month to 109.3, the forecast for December is for a modest pullback to 109.0,<br />with both current conditions and expectations components slipping back. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">EU leaders have agreed to set up a permanent mechanism to<br />bail out any member state whose debt problems threaten the 16 nation<br />eurozone. This year Greece and the Irish republic have received emergency<br />bail-outs.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The IMF has approved a three-year loan of 22.5bn euro's<br />for the Republic of Ireland. The Funds form the first part of the IMF's<br />contribution to the EU and IMF rescue package totalling 85bn euro's being<br />received by the Irish Republic. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US, the Conference Board leading economic<br />indicators will provide further evidence of the strength of the recovery.<br />Markets are looking for a 1.1% rise in the index in November, the strongest<br />monthly rise since March. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The release will be on the back of a stronger than<br />expected Philly Fed survey yesterday which helped push 10-year treasury<br />yields to a 7 month high. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">However, it is expected movements may be exaggerated by<br />thin volumes and that economic fundamentals, especially low inflation, do<br />not support the sharp back-up in yields seen in recent sessions. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><em><strong>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </strong></em></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5977463171330808564?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-87088391127649179812010-12-10T01:57:00.000-08:002010-12-10T02:28:38.659-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Friday 10th December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5817<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1939<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6044</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3239<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8372<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3430</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Bank of England's Monetary Policy Committee (MPC) has<br />kept UK interest rates on hold at 0.5%, and unveiled no new QE measures.<br />Both decisions were expected, but it will not be clear whether they were<br />unanimous until the minutes of the meeting are released. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The UKs trade deficit in goods and services widened in<br />October, the latest official figures from the Office for National Statistics<br />(ONS) have shown. The deficit - the difference between what the UK exports<br />and imports - grew to £3.9bn from £3.8bn in September. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK producer prices are also published today, where we<br />look for a 0.5% month-on-month increase to leave the annual rate at 4.2%.<br />Monday next week we have Rightmove house price data. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the Eurozone, October industrial production data out<br />of both France and Italy is scheduled, along with Greece. this follows good<br />news earlier this week from Germany, where production expanded by a hefty<br />2.9% month-on-month the strongest reading since May. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German wholesale price index for November month-on-month<br />comes in at 0.7% bouncing back from Octobers -0.3% reading. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling finished yesterday slightly lower against the<br />euro following on from the days Halifax house price survey coming in lower<br />than expected at -0.1%. Sterling/Euro spent most of the day trading back and<br />forth within a tight range. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Following this mornings release of Chinas trade balance<br />for November, today sees a variety of releases in the US. We have the US<br />trade balance and import prices as well as Decembers preliminary Michigan<br />consumer confidence survey is also published. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Rather similar to pound/euro yesterday, sterling had its<br />ups and downs against the dollar, closing the day half a per cent down again<br />over fears on the state of the UK economy. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">On Tuesday next week we have US retail sales data. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides</span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-8708839112764917981?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-14091356917954930742010-12-09T02:47:00.000-08:002010-12-09T04:40:01.612-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Thursday 9th December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5767<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1940<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6038</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3204<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8374<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3432</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">During a very quiet day in terms of economic releases elsewhere, the focus today is primarily on the UK where the Bank of England announces the policy decision of its latest monthly meeting and the ONS publishes the trade figures for the month of October. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The MPC is fully expected to leave both the level of the Bank Rate and the size of the QE program unchanged this month. However, as the November Inflation Report made clear, the upside risks to inflation have risen over the past year, with higher food and energy prices, and the upcoming rise in VAT, likely to keep inflation above 3% through early 2011.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK house prices have continued to slip, falling by 0.1% in November from the previous month, the Halifax have said. Sluggish demand and a higher number of properties for sale had pushed down prices, it said. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><span style="font-family:arial;"><br /><span style="font-size:85%;"></span></span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;"> A quiet session for the EUR yesterday in <?xml:namespace prefix = st1 /><st1:place st="on"><st1:city st="on">London</st1:city></st1:place> in spite of the sharp rises in yields, in part because this has taken the focus off EU periphery issues for the moment. There is little on the calendar to excite the market today, so the focus is likely to remain on equities and their reaction to higher yields. Reasonable resilience so far suggests support for the EUR below 1.32 will remain.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German CPI for November comes in as expected at 0.1%. The year-on-year figure also met forecasts coming in at 1.5%</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German Industrial Production for October month-on-month came back yesterday at 2.9% beating expectations of 1.0%. The year-on-year figure is 11.7% beating expectations of 10.0%.</span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><span style="font-family:arial;"><br /><span style="font-size:85%;"></span></span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Rises in US yields continued yesterday into the US auction, which is part of the explanation for the sharp rise in yields this week, though the Obama tax cuts and market positioning after the employment report have also had an influence. In the end, the Fed’s QE seems likely to prevent the rise in yields extending far from here, and the Fed will be keen to try and prevent such a move.<span style="mso-spacerun: yes"> </span>But in any case, the rise in yields elsewhere means the impact on the USD is unlikely to be dramatic.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In early trade yesterday there was solid demand for the dollar as the market focused in on highertreasury yields therefore having lost ground in early trade, sterling rallied up to a fresh two-week high<br />against the US dollar yesterday as data impressed. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><span style="font-family:arial;"><br /><span style="font-size:85%;"></span></span><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides<br /></span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-1409135691795493074?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-30939079182144769452010-12-08T01:44:00.000-08:002010-12-08T01:46:58.682-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Wednesday 8th December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5716<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1896<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6045</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3211<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8406<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3487</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the UK, the CBI Industrial trends survey is expected<br />to show an improvement in the total orders balance to -10 (consensus -13) in<br />December from -15. The latest manufacturing PMI was surprisingly strong,<br />boosted by a jump in new orders component in particular, but also by<br />stronger output and employment growth. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Other than yen, sterling is more than 10% below its fair<br />value against CAD, EUR, NZD and CHF. The misvaluation against the Kiwi<br />dollar is the largest at 14%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The UKs manufacturing output grew by 0.6% in October, the<br />fastest pace since March. The growth was twice as fast as analysts had<br />expected, and the figure comes a day after an industry body said the sector<br />was "powering ahead". </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Germany data today are expected to confirm the country's<br />considerable economic momentum at present, with signs that the traditionally<br />strong areas of production &amp; export are leading to a revival in domestic<br />demand. German industrial numbers are also due. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">EU banks will have to face a second, tougher round of<br />stress tests from February next year. The new tests will be more rigorous<br />and even more comprehensive. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The toughest budget in the Republic of Irelands history<br />has narrowly passed its first parliamentary vote. It came after finance<br />minister Brian Lenihan laid out government plans for a shake-up of the<br />income tax system and hefty benefit cuts in his 2011 budget. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Some 58% of Americans expect the US housing market to<br />stay depressed for two or more years. The findings by property websites<br />Trulia and Realty Trac come as house prices have begun falling again. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">A quiet day ahead in the US calendar, but tomorrow we<br />have US Trade balance and Uni of Michigan confidence survey. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound neared a two-week high against the US dollar<br />yesterday as an improved risk environment, led by stronger equities, dulled<br />demand for the safe-haven. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides</span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-3093907918214476945?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-52396046646144806652010-12-07T03:07:00.000-08:002010-12-07T03:10:31.935-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Tuesday 7th December 2010<br /></span></span></span><br /><span class="style2"><span style="font-family:arial;"><span style="font-size:85%;">Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5785<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1817<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5868</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3358<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8462<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3428</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Disagreement between Eurozone ministers yesterday put<br />further pressure on the euro, allowing the pound to push back above 1.18<br />where it is continuing to hold this morning. GBP has so far failed to really<br />take advantage of the combination of weaker US data and Eurozone problems,<br />but certainly looks preferable to both the Euro and Dollar after the last<br />few days. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK manufacturing production for October month-on-month<br />has come back at 0.6% beating expectations of 0.3%. The year-on-year figure<br />is 5.8% beating expectations of 5.4%. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK industrial Production for October month-on-month comes<br />in at -0.2% missing expectations of 0.3%. The year-on-year figure is 3.3%<br />missing expectations of 3.9%.</span><br /><strong><span style="font-family:arial;font-size:85%;"></span></strong></div></li></ul><p class="style2"><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><span style="font-family:arial;font-size:85%;"></span></p><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Eurozone's financial safety net is large enough for<br />now, a meeting of the groups finance ministers said. Jean-Claude Juncker,<br />said the 750bn euro backstop was the right size. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Irish Republic will take further steps to address its<br />economic problems with more detail on its four-year budget plans later on<br />Tuesday afternoon. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound did make half a cent gain against the euro<br />yesterday following disagreements between EU finance ministers fuelling<br />fears that the debt crisis will remain unresolved in the short term. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Euro weakness is continuing to spur a stronger dollar but<br />comments from Fed Chairman Bernanke have eased demand for the US Dollar. In<br />a speech yesterday Bernanke said that the Fed may expand bond purchases<br />beyond the $600bn announced last month to spur growth. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Bernanke added that a return to recessions "doesn't seem<br />likely," but this has not stopped the dollar dropping slightly this morning. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD looks likely to move with risk appetite today,<br />given no significant US news on the calendar. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5239604664614480665?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-46590424743660089042010-12-06T04:16:00.000-08:002010-12-06T04:20:28.834-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Monday 6th December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5683<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1800<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5891</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3290<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8474<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3471</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The recent run of reasonably upbeat data continued last<br />week with the latest industry PMI's pointing to ongoing economic recovery.<br />If the manufacturing PMI is to be believed, business activity in this sector<br />is currently running at its strongest pace since 1994. Services and<br />Construction activity are also holding up well. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">While the MPC meeting dominates this weeks calendar,<br />there are a number of key economic releases due. The highlights include the<br />latest industrial production, external trade &amp; produce price data. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">GBP underperformed on Friday but looks very well<br />supported against the USD at this point as long as UK numbers continue to<br />impress.</span></div></li></ul><p class="style2"><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong></p><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The ECB has ensured a recovery in European peripheral<br />bonds, and we will see how much buying this required in today's data. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tomorrow's Irish budget is also in focus as Fine Gael is<br />now uncertain to abstain. More talk of Euro bonds may receive further<br />comment around the EU finance ministers this afternoon.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Any EU recovery looks fragile strength until there is<br />much greater confidence in the stability of Eurozone periphery credit.</span></div></li></ul><p class="style4"><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /></p><ul><li class="style2"><span style="font-family:arial;font-size:85%;">Dollar weakness was the theme on Friday as the much<br />anticipated US non-farm payrolls disappointed expectations, ramping up fears<br />about the economic recovery.</span></li><li class="style2"><span style="font-family:arial;font-size:85%;">In the US today, Richmond Fed President Jeffrey Lacker<br />speaks on the subject of the economic outlook in a speech to be delivered in<br />North Carolina.</span></li><li class="style2"><span style="font-family:arial;font-size:85%;">The US unemployment rate rose to 9.8% in November, the<br />highest rate since April raising fears about the country's economic<br />recovery.</span></li></ul><p class="style2"><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote.</em></strong></span><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides</span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><p class="style1"><a href="mailto:Brokerkris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-4659042474366008904?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-40025213062782323642010-12-03T02:43:00.000-08:002010-12-03T02:52:08.012-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Friday 3rd December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5671<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1817<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5960</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3261<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8462<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3506</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><br /><ul><li><span style="font-family:arial;font-size:85%;">Following yesterdays focus on the ECB press conference,<br />attention today shifts to the release of the UK services PMI. </span></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Earlier this week, the UK manufacturing PMI surged to a<br />16 year high of 58.0 in November, adding to hopes that the economy is<br />starting to rebalance away from domestic consumption in favour of exports.<br />The services PMI survey, however, is a more important gauge of overall<br />economic prospects than the manufacturing survey, given the relative size of<br />the sector. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK PMI services for November comes in at 53.0 marginally<br />missing expectations of 53.2. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">During yesterdays ECB conference Trichet refused to<br />commit the ECB to any specifics on peripheral bond purchases, but the ECB<br />did buy aggressively yesterday &amp; this may halt the sell off for the<br />foreseeable future. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone PMI services for November comes in at 55.5<br />marginally beating expectations of 55.4</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">However, German PMI services for November have come back<br />at 59.2 beating expectations of 58.6 whilst Italian PMI services for the<br />same month has also come back higher at 54.5 blowing past expectations of<br />51.4. French PMI has come back lower than expected. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The USD was sold off aggressively yesterday helped by a<br />rally in EU periphery debt and a general rally in risk. If this is sustained<br />through the employment report today, the USD could well see further losses<br />against the risk positive currencies, as there is now limited scope for<br />further rises in US yields. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">This afternoon market attention will be on the US<br />employment report. After a stronger than expected 151k jobs created in<br />October - the first gain in five months - hopes are high for a similar<br />outturn in November. </span></div></li></ul><span style="font-family:arial;font-size:85%;">If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides</span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-4002521306278232364?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-54881490631441455162010-12-02T02:46:00.000-08:002010-12-02T02:59:23.270-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Thursday 2nd December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5638<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1840<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6154</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3207<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8445<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3643</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The UK's manufacturing sector grew at its fastest rate<br />for 16 years in November. The PMI climbed to 58, compared with a revised<br />rate of 55.4 in October which was well ahead of analysts expectations. The<br />figure was boosted by record growth in manufacturing jobs which helped<br />compile the survey. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling slipped against the euro yesterday following the<br />Portuguese bond auction receiving high demand. The government auction of 12<br />month bills attracted bills for 2.5 times the amount offered. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK PMI construction for November comes in at 51.8 beating<br />expectations of 51.30</span></div></li></ul><p class="style2"><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong></p><ul><li><span style="font-family:arial;font-size:85%;">Today's key event is the ECB council meeting, where<br />markets will be watching out for ECB President Jean-Claude Trichet's latest<br />assessment of its 'non-standard' policy stimulus measures</span></li><li><span style="font-family:arial;font-size:85%;">We also have the second estimate of eurozone Q3 GDP<br />published today, where it is expected there will be an unrevised outturn of<br />+0.4% quarter-on-quarter. </span></li><li><span style="font-family:arial;font-size:85%;">It is expected that euro strength will be short lived.<br />The so called 'GIPSI' countries (Greece, Ireland, Portugal, Spain and Italy)<br />are still very much on the markets radar and investors will be watching<br />closely for any hint from Trichet that the ECB plans to extend<br />'non-standard' stimulus measures. </span></li><br /></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Yesterdays data from the US struck a positive note with<br />the institute for Supply Managements Factory Index showing US manufacturing<br />expanded for a 16th straight month in November, whilst an employment agency<br />revealed a boost in payrolls. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US today we have the latest weekly US jobless<br />claims data, along with pending house sales for October. </span></div></li></ul><p class="style2"><span style="font-family:arial;font-size:85%;"><em><strong>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </strong></em></span></p><p class="style2"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-5488149063144145516?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-24440522253045373382010-12-01T01:49:00.000-08:002010-12-01T01:51:56.948-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Wednesday 1st December 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5628<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1960<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6222</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3066<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8361<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3563</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling has remained well supported as the market<br />focuses on the Euro problems, but been very data dependant at present weak<br />UK data could derail GBP, with PMI today a potential risk in relative terms. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Nationwide have confirmed that house prices have fallen<br />again in November. The average price has dropped by another 0.3% to leave it<br />just 0.4% higher than a year ago. The continued drop in house prices was the<br />fourth drop in the past 5 months. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the UK, this week sees the release of the PMI surveys<br />where we look for some moderation across the manufacturing, construction &amp;<br />services sectors.</span><br /><strong><span style="font-family:arial;font-size:85%;"></span></strong></div></li></ul><p class="style2"><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong></p><ul><li><span style="font-family:arial;font-size:85%;">Market attention continues to focus on the developments<br />in the Eurozone, but data-wise the calendar is very light today with only<br />the final estimate of manufacturing PMI due for release. Looking ahead, the<br />highlight this week will be ECB press conference on Thursday where the<br />markets will scrutinise President Trichets comments on the ECB liquidity<br />framework. </span></li><li><span style="font-family:arial;font-size:85%;">The euro remains near eleven month lows against the US<br />dollar as European debt concerns continue to focus on Portugal. Today the<br />Portuguese government are due to auction 500 million euro's of bonds later<br />and analysts will be waiting to see the extent of market interest. It comes<br />a day after ratings agency Standard &amp; Poor's placed Portugal on credit watch<br />due to the country's huge debts. </span></li><li><span style="font-family:arial;font-size:85%;">Eurozones unemployment rate hit 10.1% in October as<br />jobless rates rose in Italy, France &amp; Germany. Stats have confirmed that the<br />rate was the highest since July 1998. Inflation for the eurozone has<br />remained unchanged at 1.9% in November with 2.0% been the target rate. </span></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">USD strength continued yesterday helped by more by<br />problems in Europe than strong US data, but with US yields generally still<br />holding up better than yields elsewhere, its hard to turn USD negative at<br />this point. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">US house prices fell again in September at a quicker than<br />expected rate. Prices were down 0.8% from the previous month on a seasonally<br />adjusted basis. A tax credit for homebuyers expired in April, leading to a<br />steep drop in home sales over the summer.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the US, the highlights of the day are the<br />manufacturing ISM index and, ahead of Fridays non-farm payrolls, the ADP<br />employment report.</span><br /><span style="font-family:arial;font-size:85%;"></span></div></li></ul><p class="style2"><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><span style="font-family:arial;font-size:85%;"></span></p><p class="style2"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a></p><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-2444052225304537338?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-8749779617120522682010-11-30T02:24:00.000-08:002010-11-30T02:27:16.483-08:00<span class="style2"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Tuesday 30th November 2010<br /><br />Today's Interbank rates -<br /><br /></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-size:85%;"> 1.5527<br /></span><a href="http://www.imsfx.org/1/"><span style="font-size:85%;">POUNDS TO EUROS</span></a><span style="font-size:85%;"> 1.1933<br /></span><a href="http://www.imsfx.org/1/"><span style="font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-size:85%;"> 1.6184</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-size:85%;"> 1.3011<br /></span><a href="http://www.imsfx.org/1/"><span style="font-size:85%;">EUROS TO POUNDS</span></a><span style="font-size:85%;"> 0.8379<br /></span><a href="http://www.imsfx.org/1/"><span style="font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-size:85%;"> 1.3561</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-size:85%;">The number of new mortgages being approved for house<br />buyers has fallen for the sixth month in a row, Bank of England figures have<br />shown. The data suggests that house sales will be stuck in a rutt in the<br />coming months. </span></div></li><li><div class="style2"><span style="font-size:85%;">Chancellor George Osbourne said yesterday that "UK<br />economy recovery is on track" despite "challenging " global conditions. The<br />office for Budget Responsibilities (OBR) formed in May to make an<br />independent assessment of the public finances ahead of each budget has<br />revised its growth estimates for 2011 &amp; 2012 have been lowered. </span></div></li><li><div class="style2"><span style="font-size:85%;">Tomorrow for the UK we have Nationwide house prices and<br />PMI manufacturing data. </span></div></li></ul><strong><span style="font-size:85%;">EURO HEADLINES:</span></strong><br /><span style="font-size:85%;"><br /></span><br /><ul><li><div class="style2"><span style="font-size:85%;">The euro has continued to fall against the dollar as<br />markets opened after European ministers agreed a bail-out for the Irish<br />Republic. </span></div></li><li><div class="style2"><span style="font-size:85%;">Irish, Spanish &amp; Portuguese bond yields have remained<br />stubbornly high, indicating the market is not convinced European debt<br />problems have gone away. </span></div></li><li><div class="style2"><span style="font-size:85%;">Following the release of the UK GFK consumer confidence<br />overnight, the focus in the morning session is the release of German<br />unemployment and the eurozone flash CPI estimate, both for November. </span></div></li></ul><strong><span style="font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><span style="font-size:85%;"><br /></span><br /><ul><li><div class="style2"><span style="font-size:85%;">Outside Europe, the US conference board consumer<br />confidence and Chicago purchasing manager surveys are the main releases. The<br />Chicago business survey will be closely watched, following rather<br />conflicting Empire and Philly Fed surveys. </span></div></li><li><div class="style2"><span style="font-size:85%;">Towards the end of the week we have initial jobless<br />claims, pending home sales and non-farm payrolls.<br /></span></div></li></ul><p class="style2"><strong><em><span style="font-size:85%;">If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </span></em></strong></p><span style="font-size:85%;"><br /></span><br /><p class="style1"><span style="font-size:85%;">Kris Charalambides<br /></span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-874977961712052268?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-10149498731131688012010-11-29T02:15:00.000-08:002010-11-29T02:18:17.706-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Monday 29th November 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5606<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1804<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6175</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3217<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.871<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3702</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Mortgage approvals and lending data, as well as latest<br />money supply statistics, are the main UK releases today. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK consumer credit will also be released this morning. We<br />see net consumer credit remaining only slightly positive in November. The<br />key point here is that uncertain job prospects &amp; stubbornly high inflation<br />are likely to weigh on real income growth &amp; reduce the demand for credit. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK money supply for October month-on-month comes in at<br />0.7% and year-on-year -0.7%</span><br /><strong><span style="font-family:arial;font-size:85%;"></span></strong></div></li></ul><p class="style2"><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong></p><ul><li><span style="font-family:arial;font-size:85%;">In the eurozone, economic confidence indicators and the<br />publication of updated macro-economic forecasts from the EU Commission are<br />the key scheduled events today. </span></li><li><span style="font-family:arial;font-size:85%;">The euro was steady against the dollar as markets opened<br />a day after European ministers agreed a bail-out for the Irish Republic.<br />France and Germany have also said the Republic of Ireland bail-out should<br />draw a line under its debt crisis. </span></li><li><span style="font-family:arial;font-size:85%;">Italian PPI for October comes in at -0.2% missing<br />expectations of 0.2%. The year-on-year figure is 4.0% missing expectations<br />of 4.2%. </span></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling hit a two-month low against the dollar on Friday<br />on concern about the UK's exposure to eurozone debt as fears grow that the<br />crisis could spread beyond Greece and Ireland. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Focus this week turns towards Novembers employment<br />numbers. Recent evidence of an improving US economy has worked in the<br />dollars favour. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Non Farm payrolls data this week is likely to indicate a<br />further improvement as currencies look set to struggle against the dollar. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-1014949873113168801?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-23634112795513708212010-11-26T02:43:00.000-08:002010-11-26T02:45:52.069-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Friday 26th November 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5699<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1851<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6265</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3247<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8438<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3724</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">MPC's Adam Posen has said that he was concerned about<br />support given by the MPC for the governments plans to cut the budget<br />deficit. Mr Posen told MP's on the treasury committee that he and some<br />colleagues had made their concerns known to the governor but he admitted<br />this was a minority view. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The MPC has been split over monetary policy at its last<br />two meetings. Mr Posen has called for £50bn of extra QE - the banks main<br />stimulus measure whilst Andrew Sentance favoured raising interest rates from<br />0.5% to 0.75%, while the other seven members voted for no change in rates<br />and no additional stimulus spending. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Retail sales rose in November. The figure is 10 points<br />higher than analysts expected, but below the 49% recorded in September, a<br />six year high. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today we have the release of preliminary German CPI for<br />November and eurozone M3 money supply data which will provide</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Eurozone M3 money supply has shown signs of improvement,<br />but the rate of growth this year still remain subdued. The fragile state of<br />eurozone banks and net new lending, especially those in periphery countries<br />such as Greece, Ireland and Spain, will make ECB policy makers more<br />apprehensive about withdrawing support to the sector. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Growing sceptism around both Greece and Irelands future<br />economic growth prospects, and the feasibility of projected deficit<br />reduction programmes this week, continues to drive fears of contagion<br />amongst other periphery countries such as Portugal and Spain. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">A relatively quiet day for data releases post the<br />Thanksgiving holiday leaves markets more susceptible to events unfolding in<br />the eurozone. </span></div></li></ul><p class="style2"><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a></p><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-2363411279551370821?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-72299262303707051132010-11-25T02:12:00.000-08:002010-11-25T02:14:55.460-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Thursday 25th November 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5783<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1848<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6081</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3320<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8439<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3571</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Yesterdays Q3 GDP figures have shown that the economy<br />grew 0.8% between July and September. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The ONS (Office of National Statistics) said exports of<br />goods &amp; services rose 2.2% while imports rose 0.7%. However growth in<br />government &amp; household spending slowed. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">After yesterdays second estimate for UK Q3 GDP, which was<br />unchanged, attention now turns to the HM Treasury Committee hearing on the<br />Bank of England's November Inflation Report. Bank of England's governor<br />Mervyn King and MPC members, Posen and Sentance, who represent the<br />increasing polarised view among the MPC Committee, are scheduled to speak. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Irish Government has unveiled a range of tough<br />austerity measures designed to help solve the country's debt crisis. Among<br />the spending cuts and tax rises are a reduction in the minimum wage from 1<br />euro cut to 7.65 euro's an hour, a new property tax and thousands of public<br />sector job cuts. The 4 year plan is designed to save the state 15bn euro's<br />which equates to about 9% of the country's total economic output. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German business confidence has hit its highest level<br />since reunification, providing further evidence of the country's strong<br />economic recovery, the IFO business climate showed. The IFO business climate<br />Index climbed to 109.3 in November, up from 107.7 the previous month,<br />defying analysts predictions of a slight fall hitting a 20 year high.</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Following on from Irelands problems the German confidence<br />figures provided a much needed boost in light of the debt crisis which also<br />threatens to spread to other European countries with high budget deficits. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">US household incomes and spending rose in October despite<br />continuing housing market woes. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Personal income was up 0.5% versus a month earlier, with<br />consumer spending up 0.4%, the commerce department said. The news along with<br />a surprise drop in unemployment benefit claims helped boost the dollar<br />yesterday. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">New home sales fell 8% in October from the month before<br />on a seasonally adjusted basis. Total sales for the month were the lowest on<br />record, beating a previous record set in 1981. This follows a more<br />encouraging report on existing home sales in October on Tuesday, which<br />showed sales up 8.4% versus a year earlier, with the inventory of unsold<br />housing falling versus the previous month.</span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides</span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-7229926230370705113?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-38228247681163037652010-11-24T03:01:00.001-08:002010-11-24T03:03:05.062-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Wednesday 24th November 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5926<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1727<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6223</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3581<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8527<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3834</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's second estimate of UK GDP for the 3rd quarter is<br />unlikely to detract attention from events elsewhere is Europe. Nevertheless,<br />the detail should make for interesting reading as the market seeks to make<br />sense of the stronger than expected 0.8% rise in UK GDP last quarter. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK GDP Q3 quarter-on-quarter did come in as expected at<br />0.8%. The year-on-year figure also met expectations coming in at 2.8%. The<br />final GDP report is due on the 22nd December. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK exports for the 3rd quarter came in at 2.2% beating<br />expectations of 1.5% and UK imports again for the 3rd quarter also came back<br />better than expected at 1.7%. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's German IFO will provide another steer as to how<br />Europe's largest economy is faring. We expect a modest deterioration,<br />although concede that after yesterdays stronger Manufacturing PMI reading<br />there is an upside risk too. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Irish Government is set to publish an austerity plan<br />required for its EU and IMF led bail-out. This follows another day of market<br />angst, with shares down sharply on Tuesday and the euro 1.9% lower against<br />the dollar. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Also on Tuesday, ratings agency Standard &amp; Poor's<br />downgraded the Republic , from AA - to A, due to the large sum involved in<br />the rescue package from the European Union &amp; The International Monetary Fund<br />(IMF). </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today sees the release of a raft of US data, including<br />durable goods orders, jobless claims, personal spending, new home sales and<br />consumer confidence. On balance the overall tone of these should be a little<br />stronger, albeit scant respite ahead of the Thanksgiving holiday on<br />Thursday. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Federal Reserve has cuts its 2011 growth forecast for<br />the US economy the latest FOMC minutes reveal. The Fed expects growth of 3 -<br />3.6% next year down from its previous of 3.5 - 4.2% estimate. It also<br />forecasts higher unemployment and lower inflation than before. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The minutes of the Feds November meeting show that<br />support for QE policy was almost unanimous, with only one member voting<br />against. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /><br /><br /><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-3822824768116303765?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-79863757569408965802010-11-23T02:13:00.000-08:002010-11-23T02:19:55.352-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Tuesday 23rd November 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.5926<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1727<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6223</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3581<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8527<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3834</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">The pound did initially fall against the euro yesterday<br />following the Irish bailout but has now climbed back above 1.17 as the<br />bailout failed to uplift market sentiment</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tomorrows key data for the UK is the 2nd estimate of<br />Gross Domestic Production (GDP) for the 3rd quarter. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Nationwide have warned that house prices will likely fall<br />further. The lender has come out saying potential buyers were being deferred<br />by the uncertainty generated by the governments public spending cuts. "In<br />the housing market, conditions have weakened noticeably over the last six<br />months, with both a decline in buyer demand and a modest downward trend in<br />house prices" the Nationwide Building Society said. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">In the eurozone, we look for Novembers preliminary<br />eurozone PMI surveys (manufacturing &amp; services) to show a moderately slower<br />pace of expansion. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Shares have fallen in Europe and Asia on fears that the<br />Irish Republics debt crisis could spread to other European countries with<br />high budget deficits. Investors are concerned that other countries with high<br />levels of debt, in particular Portugal &amp; Spain, may also have to seek<br />financial help. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The debt crisis will put pressure on the euro &amp; will keep<br />the dollar stronger, and that will put pressure on equity markets, said Ben<br />Kwong Man Bun at KGI securities in Hong Kong. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Today's data for the US sees the release of Novembers<br />FOMC minutes, the second estimate of Q3 GDP and October existing home sales<br />are likely to take centre stage. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The minutes will shed light on the Feds decision to<br />reinstate its quantitative easing programme by purchasing $600bn of<br />Treasuries by end -Q2 next year. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Tomorrow we have a raft of data from the US in the form<br />of Durable Goods orders, Personal Income, Personal Spending, Initial Jobless<br />claims and New Home Sales. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-7986375756940896580?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-39445910149282154972010-11-22T02:22:00.000-08:002010-11-22T02:25:00.432-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Monday 22nd November 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6080<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1697<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6175</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3747<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8549<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3828</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Sterling has dropped against the euro following reports<br />that the UK will be stumping up £7bn in loans to the Irish Republic. This<br />was the first weekly decline against the Euro in four weeks. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The British Pound did fall against the dollar on Friday<br />but with news from Ireland over the weekend this has boosted risk appetite,<br />therefore taking sterling back through $1.60 this morning. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Second estimates of Q3 GDP will be released on Wednesday.<br />A strong report will help boost the pound. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">European shares and the euro have both risen in value, as<br />markets welcomed the bail-out for the Irish Republic. It comes as Dublin is<br />set to begin the formal process of applying for up to 90bn Euros of European<br />Union-led loans agreed on Sunday. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The total level of loans the UK will give the Irish<br />Republic is expected to be about £7bn. Chancellor George Osbourne said "that<br />it was in the UK's national interest to help the Irish Republic". </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">In terms of the calendar today, eurozone consumer<br />confidence and ECB President Trichets participation in a European parliament<br />debate at 16:00 GMT will receive some attention. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Following Fridays speech to the ECB 'US Federal Reserve<br />Chairman Ben Bernanke has criticised countries like China that run large<br />trade surpluses'. He said that by buying dollars, these countries were<br />hurting the US recovery &amp; the global economy with it. He also defended the<br />Feds policy of 'quantitative easing', which has been criticised by China &amp;<br />Germany. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">China, Germany &amp; others have attacked the Federal Reserve<br />in recent weeks for its decision to purchase another $600bn of US government<br />debt in a bid to stimulate the US economy. They say that the policy will<br />unfairly devalue the dollar in currency markets, and that could lead to<br />inflation and asset bubbles elsewhere in the world. The Fed Reserve bought<br />$2.169bn of treasuries on Friday as part of its asset-purchase programme<br />aimed at lowering borrowing costs. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">With thanksgiving approaching and a light week for data<br />the USD looks likely to stay confined to recent ranges against the major<br />currencies. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-3944591014928215497?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-28398321956069762502010-11-19T01:58:00.000-08:002010-11-19T02:00:48.209-08:00<span class="style2"><span style="font-family:arial;"><span style="font-size:85%;"><strong><span class="style3">IMS FX MORNING REPORT</span> </strong>for Friday 19th November 2010<br /><br />Today's Interbank rates -<br /><br /></span></span></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6080<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO EUROS</span></a><span style="font-family:arial;font-size:85%;"> 1.1735<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">POUNDS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.6260</span></span></strong><span class="style2"><br /><br /></span><strong><span class="style2"><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO US DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3702<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO POUNDS</span></a><span style="font-family:arial;font-size:85%;"> 0.8521<br /></span><a href="http://www.imsfx.org/1/"><span style="font-family:arial;font-size:85%;">EUROS TO AUSTRALIAN DOLLARS</span></a><span style="font-family:arial;font-size:85%;"> 1.3855</span></span></strong><span class="style2"><br /><br /><strong><span class="style3" style="font-family:arial;font-size:85%;">POUND HEADLINES:</span></strong></span><span style="font-family:arial;font-size:85%;"> </span><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">UK Retail Sales rose in October, ending two months of<br />declines. October sales were 0.5% higher than the month before which was a<br />bigger rise than expected. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">A separate report from the CBI found that UK factory<br />orders declined at a slower-than-expected pace in November. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Mortgage lending continues to be subdued, the council of<br />Mortgage lenders (CML) has said. Total mortgage lending in October was<br />£12.4bn, the same as in September but the lowest October figure since 2000. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">There are no major UK releases now until next weeks 2nd<br />estimate of Q3 GDP (Gross Domestic Production) figures. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">EURO HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">Financial Markets remain pre-occupied with developments<br />in the euro-zone, where the Irish Government is currently in negotiations<br />with the European Commission, ECB and IMF on new measures to support the<br />Irish banks (estimated at around 80bn)</span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Greek Government has unveiled an austerity budget<br />that aims to cut its 2011 public deficit to 7.4% of the nations annual<br />income output for GDP. Greece had to accept a 110bn euro rescue deal in May. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">German Producer Prices for October month-on-month have<br />come in at 0.4% beating expectations of 0.3%. The year-on-year figure is<br />4.3% beating an expected 4.1%. </span></div></li></ul><strong><span style="font-family:arial;font-size:85%;">US DOLLAR HEADLINES:</span></strong><br /><br /><br /><ul><li><div class="style2"><span style="font-family:arial;font-size:85%;">A number of Central Bank speakers are in action today at<br />an ECB conference on 'Approaches to monetary policy revisited - lessons from<br />the crisis;. Fed chairman Ben Bernanke addresses the conference and at the<br />same event there is a panel discussion also featuring the ECB president, IMF<br />managing director and PBOC governor. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">Ben Bernanke defended the Federal Reserves recent plan to<br />spur economic growth, saying the strategy has worked in the past and could<br />help reduce unemployment in the United States. </span></div></li><li><div class="style2"><span style="font-family:arial;font-size:85%;">The Fed has come under fire recently for its decision to<br />pump $600bn into the financial system by purchasing U.S Treasuries. Central<br />bank officials from many of the US 'trading partners, including Germany,<br />have criticized the plan for the potentially dangerous side effects. </span></div></li></ul><span style="font-family:arial;font-size:85%;"><strong><em>If you need to buy, sell or make an international payment today then please<br />call me for a free quote. </em></strong></span><br /><br /><br /><p class="style1"><span style="font-family:arial;font-size:85%;">Kris Charalambides </span><br /></p><p class="style1"><a href="http://imsfx-fx-broker.blogspot.com/"><span style="font-family:arial;font-size:85%;">FX Broker</span></a><br /></p><p class="style1"><a href="mailto:kris@imsfx.co.uk"><span style="font-family:arial;font-size:85%;">kris@imsfx.co.uk</span></a><br /></p><p class="style1"><a href="http://www.imsfx.co.uk/"><span style="font-family:arial;font-size:85%;">www.imsfx.co.uk</span></a><br /></p><p class="style1"><span style="font-family:arial;font-size:85%;">Tel: 0207 183 2790</span></p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1672635980951528952-2839832195606976250?l=imsfx-fx-broker.blogspot.com' alt='' /></div>Kris - IMS Foreign Exchangehttp://www.blogger.com/profile/06001440203712125606noreply@blogger.com0tag:blogger.com,1999:blog-1672635980951528952.post-88581565205803563602010-11-18T01:58:00.000-08:002010-11-18T