IMS FX Morning Report - 30-09-2010

Good Morning,

IMS FX MORNING REPORT - Thursday 30/09/2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5917
POUNDS TO EUROS 1.1654
POUNDS TO AUSTRALIAN DOLLARS 1.6413

EUROS TO US DOLLARS 1.3657
EUROS TO POUNDS 0.8582
EUROS TO AUSTRALIAN DOLLARS 1.4086

POUND HEADLINES:

• Sterling fell below 1.16 for the first time since mid-May hitting a 4
  month low following on from policy member comments of a renewed bout of
  asset purchases
• UK Nationwide house prices (YoY) for September at 3.1% beating
  expectations of 2.6% (prior month at 3.9%)
• Mortgage approvals held below 50k for the eighth month in a row, 60%
  below the peak levels that were reached in 2006. A report has also shown
  that UK mortgage lending has fallen for a fourth month in August adding
  signs the recovery is faltering

EURO HEADLINES:

• rish bank 'Anglo Irish bank' will cost up to 34bn euro's to bail out.
  Anglo Irish was most dependent on property values, the sector worst effected
  by the credit crunch. Irish finance minister 'Brian Lenihan' said, the bank
  was too big to fail.
• Eurozone CPI estimate YoY (September)in line with expectations at 8.1%
  prior month at 1.6%
• German unemployment rate for September fell to 7.5% beating expectations
  of 7.6% previously at 7.6%

US DOLLAR HEADLINES:

• With both the UK and the US central banks promoting the idea of further
  quantitative easing the pound dollar has been trading sideways for the past
  couple of sessions
• Dollar hit a 5 month low against the euro yesterday on the back of
  growing prospects for further monetary easing
• Today we have US GDP Q2 which is expected to show growth of 1.8%.
  Anything less is likely to weaken the value of the dollar further

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

IMS FX Morning Report 29-09-2010

Good Morning,

IMS FX MORNING REPORT - Wednesday 29/09/2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5823
POUNDS TO EUROS 1.1630
POUNDS TO AUSTRALIAN DOLLARS 1.6290

EUROS TO US DOLLARS 1.3604
EUROS TO POUNDS 0.8597
EUROS TO AUSTRALIAN DOLLARS 1.4006

POUND HEADLINES:

• Sterling fell to a 4 month low against the euro yesterday plunging below
  1.17 following comments from BOE policy member. Possen says "further easing
  should be undertaken".
• UK CBI reported sales come much higher than expected at 49 versus 25
  consensus and 35 previous
• UK GDP gains momentum in the second quarter. UK economy activity in the
  second quarter rose 1.2% from the quarter prior, which was in line with
  economists expectations. Main drivers were stronger fixed investment and
  government consumption

EURO HEADLINES:

• France consumer confidence comes in better than expected at 35 versus
  the -39 consensus estimates and -39 previous
• Italy business confidence comes in at 98.4 below consensus estimates of
  100.1, previous print also revised lower to 99.3
• In early trading the euro did fall slightly on rumours that Moody's
  would soon downgrade Spain's AAA rating by possibly two notches

US DOLLAR HEADLINES:

• US dollar is still under pressure due to possibility that Fed will pump
  over a trillion dollars into the system to help stimulate the economy. This
  has enabled the pound to reach a seven week high
• US consumer confidence falls to its lowest level since February this
  year. falls from 53.2 to 48.2 (expected 52.1)
• Disappointing data yesterday showed that US home prices rose at a slower
  pace in July which has again fuelled speculation about the Feds policies

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

IMS FX Morning Report 28-09-2010

Good Morning,

IMS FX MORNING REPORT - Tuesday 28/09/2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5830
POUNDS TO EUROS 1.1809
POUNDS TO AUSTRALIAN DOLLARS 1.6514

EUROS TO US DOLLARS 1.3405
EUROS TO POUNDS 0.8467
EUROS TO AUSTRALIAN DOLLARS 1.3983

POUND HEADLINES:

• UK GDP Q2 comes in as expected at 1.2% M/M and 1.7% Y/Y. UK total
  business investment comes in at 0.7% M/M and 1.9% Y/Y versus consensus
  estimates of -1.6% M/M and 1.9% Y/Y
• Sterling hit a 7 week high against the dollar yesterday with USD
  continuing to struggle on expectations that the FED may ease monetary policy
  further to help the economy by way of quantitative easing
• IMF (International Monetary Fund) says Britain's economy is 'on the
  mend' but it cuts its growth forecast to 2.0% from its estimate of 2.1%.
  'Economic recovery is underway, unemployment has stabilised and financial
  sector health has improved' the IMF said.

EURO HEADLINES:

• Eurozone: Trichet says risk to inflation outlook 'slightly on the
  upside' but currently remain firmly anchored also to expect 'economic
  recovery to proceed at moderate pace'. Trichet also says that he sees
  'continuing uncertainty surrounding outlook' and added that current monetary
  policy is 'accommodative'.
• Germany the largest economy in the EU has released data this morning
  revealing consumer confidence has come in much better than expected at 4.9
  versus expectation for 4.2.
• The Euro briefly touched its strongest level yesterday against the
  dollar since April reaching above 1.35 however the euro fell as renewed
  signs of debt problems at European banks and nations reduced demand for
  assets

US DOLLAR HEADLINES:

• Sterling extended its rally against the dollar yesterday to five
  consecutive days as US continuing to struggle on expectations that the FED
  may ease monetary policy. Sterling was also helped as IMF gave its
  endorsement to the governments fiscal tightening plans.
• Big headline news will be towards the end of the week with the US
  releasing GDP figures therefore expect to see volatility towards the later
  end of the week
• Dallas Fed manufacturing activity came in at -17.7% worse than
  expectations of -7.0%

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

IMS FX Morning Report 27-09-2010

Good Morning,

IMS FX MORNING REPORT - Monday 27/09/2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5823
POUNDS TO EUROS 1.1767
POUNDS TO AUSTRALIAN DOLLARS 1.6495

EUROS TO US DOLLARS 1.3446
EUROS TO POUNDS 0.8497
EUROS TO AUSTRALIAN DOLLARS 1.4016

POUND HEADLINES:

• Hometrack housing survey (YoY) for September 1.0% versus 1.5% in the
  prior period. (MoM for September -0.4% versus -0.3% in the prior period)
• UK house prices fell most in 18 months in September, says Hometrack
• Last week sterling/euro reach a high of 1.2001 on Monday and fall to a
  low of 1.1658 on Wednesday. A drop of almost 3% between the pair.

EURO HEADLINES:

• Investors picked up on better than expected data from Germany on Friday
  where an index of business sentiment topped expectations
• ECB president Trichet is due to talk to this afternoon at the European
  Parliament, which may cause a little stir in the market due to question
  marks over the German banks.
• Eurozone index raised to its highest level in 3 years which has helped
  lift the single currency although euro falls after Moodys cuts Anglo Irish
  debt, reigniting worries about the eurozone banking sector

US DOLLAR HEADLINES:

• US durable goods orders for August came in at -1.3% (expected -1.0%)
• Federal Reserves decision top hold interest rates at 0.25% (has been on
  hold now for 21 months) and announcement that further quantitative easing
  may still be necessary has caused uncertainty for the dollar
• Towards the later end of the week there are a raft of figures and
  announcements from the US which will give an updated view of the US economic
  conditions.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

IMS FX Live Rates

IMS FX Morning Report 24-09-2010

Good Morning,

IMS FX MORNING REPORT - Friday 24/09/2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5691
POUNDS TO EUROS 1.1734
POUNDS TO AUSTRALIAN DOLLARS 1.6444

EUROS TO US DOLLARS 1.3372
EUROS TO POUNDS 0.8525
EUROS TO AUSTRALIAN DOLLARS 1.4019

POUND HEADLINES:

• Sterling has remained vulnerable after Bank of England minutes showed
  policy makers felt the case for more quantitative easing had strengthened
• Mortgage approvals fell by 7.2% to a 16 month low to 31,767 in August on
  weakened housing market down 22% from year prior
• Sterling gained some ground yesterday against the euro due to poor
  eurozone data briefly pushing back above 1.18 although this did not last and
  today remains under 1.1750

EURO HEADLINES:

• In the Eurozone a survey of purchasing managers showed that growth in
  both the manufacturing and services industry slowed in September enabling
  the pound to pull back from 4 month lows
• German IFO business climate tops expectations, comes in at 106.8 in
  September vs. 106.4 forecast
• Ireland reported that's its economy shrank by 1.2% in the second
  quarter. This falls considerably short of the 0.5% expected

US DOLLAR HEADLINES:

• US existing home sales rose 7.6% in August to 4.13 million rate. 7.1%
  increase was expected (second lowest level on record) also unemployment data
  was disappointing
• New home sales data from US this afternoon although may not have much
  impact on GBPUSD
• Pound continued to push higher against the dollar but flattened out at
  1.57 providing resistance. Now trading just below this level.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

IMS FX Morning Report 23-09-2010

Good Morning,

IMS FX MORNING REPORT - Thursday 23/09/2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5654
POUNDS TO EUROS 1.1747
POUNDS TO AUSTRALIAN DOLLARS 1.6503
EUROS TO US DOLLARS 1.3330
EUROS TO POUNDS 0.8511
EUROS TO AUSTRALIAN DOLLARS 1.4042

POUND HEADLINES:

• Pound hit a 4 month low yesterday against the euro as Bank of England
  minutes reveal that MPC members are considering further Quantitative Easing
• Andrew Sentance was the only member of MPC who had voted for a rat hike
  of 0.25% for a 4th month in a row.
• At the moment the Pound is stronger than the dollar as the Fed Reserve
  also look for further Quantitative Easing highlighted on Tuesday

EURO HEADLINES:

• Portugal has raised 750 million on the capital markets increasing hopes
  that a debt default can be avoided. This follows on from both Greece and
  Ireland
• German Government to sell EUR 60bn of debt in 4th quarter, less than
  planned EUR 89bn
• Eurozone PMI manufacturing (Sep) comes in at 53.6 missing expectations
  of 54.5 prior month was 55.1

US DOLLAR HEADLINES:

• This afternoon at 3pm we have US existing home sales which if shows an
  improvement could help the dollar recover some of its losses making the
  dollar more expensive to purchase
• USD could remain under pressure until Feds November meeting if economic
  data from US continues to remain weak
• The dollar fell to its lowest against the euro yesterday since April as
  speculation that the Fed Reserve will ease monetary policy further.

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

IMS FX MORNING REPORT 22-09-2010

Good Morning,

IMS FX MORNING REPORT - Wednesday 22/09/2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5680
POUNDS TO EUROS 1.1740
POUNDS TO AUSTRALIAN DOLLARS 1.6407
EUROS TO US DOLLARS 1.3359
EUROS TO POUNDS 0.8518
EUROS TO AUSTRALIAN DOLLARS 1.3975

POUND HEADLINES:

• Pound has fallen to a 2 month low against the euro following on from
  higher than expected borrowing in the UK public sector and also the with the
  euro strengthening following on from high demand for Irish and Greek bonds
  which helped push the single currency
• Public sector borrowing rose to £15.3bn in August which was a record
  high going against expectations of a drop to £12.5bn
• Bank of England minutes reveal MPC voted 8-1 to keep policy steady with
  dissent from Sentance who wanted to see 25BP rate hike

EURO HEADLINES:

• Eurozone sovereign debt eased due to high demand for Irish and Greek
  bonds at auction.
• The euro has strengthened against the dollar overnight following strong
  demand for eurozone debt and with also the Fed confirming the need for
  further monetary stimulus
• Tomorrow the focus will remain on financial stability as Portugal is set
  to auction (they increased their deficit assessment today)

US DOLLAR HEADLINES:

• Overnight the Fed have made it clear that inflation is too low and
  policy could be adjusted to address the problem. Uncertainty looks set to
  undermine the US dollar with sterling breaking above resistance this morning
  to briefly touch $1.57
• GBP/USD coming under pressure following on from comments from bank of
  England which reveal potential for more quantitative easing measures
• EUR/USD is trading above $1.33which is a five month high following on
  from weak Euro zone industrial data this morning

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

IMS FX Morning Report 21-09-2010

Good Morning,

IMS FX Morning Report for Tuesday 21st September 2010.

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5536
POUNDS TO EUROS 1.1820
POUNDS TO AUSTRALIAN DOLLARS 1.6417

EUROS TO US DOLLARS 1.3143
EUROS TO POUNDS 0.8459
EUROS TO AUSTRALIAN DOLLARS 1.3889

POUND HEADLINES:

• Sterling has fallen to a 7 week low against the euro following a raft of
  weak economic data from the UK. Property asking prices have fallen for a
  third consecutive month, home loan approvals have dropped to their lowest in
  over a year and lending to UK businesses has fallen for the fifth month in
  July.
• Office for National statistics has revealed that public sector net
  borrowing was higher than expected at 15.9bn
• Tomorrow Bank of England minutes released will reveal how MPC members
  voted and if any voted for an interest rate hike. If members have voted in
  favour then we could see sterling gains

EURO HEADLINES:

• In the eurozone today focus will be on an Irish bond auction. If the
  currency does not attract strong demand then we could see pressure on the
  euro
• Demand by investors to hold Irish bonds climbed to 6.5% which is a
  record high for Ireland since it became a eurozone member
• Swiss money supply M3 YoY at 6.6%, previous was at 6.5%

US DOLLAR HEADLINES:

• 2yr treasury yield falls to record low of 0.4479%
• In the US there is an interest rate decision tonight therefore may not
  be much movement on the dollar ahead of the Fed's policy announcement
• Interests rates are likely to remain on hold although speculation that
  the US Fed Reserve would highlight the need for more stimulus to support an
  ailing recovery has softened demand for the dollar

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

IMS FX Morning Report 20-09-2010

Good Morning,

IMS FX Morning Report for Monday 20th September 2010.

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5597
POUNDS TO EUROS 1.1907
POUNDS TO AUSTRALIAN DOLLARS 1.6501

EUROS TO US DOLLARS 1.3099
EUROS TO POUNDS 0.8398
EUROS TO AUSTRALIAN DOLLARS 1.3858

POUND HEADLINES:

• CML reveals mortgage advances fell by 14% to 11.4 billion during August
  2010
• Sterling exchange rates declined to a 6 week low last week against the
  euro and has also lost ground to the majority of other currencies due to
  retail sales data declining for the month of August
• Bank of England minutes released on Wednesday this week will reveal how
  MPC members voted and will give an indication on future interest rates.

EURO HEADLINES:

• Eurozones debt positions still a major concern as Irish bond yields
  widened to their highest level although IMF spokesman has revealed he does
  not believe financial assistance would be required for Ireland
• EURUSD early day surge seems to be falling back below $1.31
• Bundesbank has stated German upswing has weakened after strong Q2
  recovery but the recovery trend is still intact

US DOLLAR HEADLINES:

• Sterling hit a 5 week high on Friday as renewed risk aversion hit the
  markets coupled with disappointing inflation data adding concerns about the
  strength of the US economy
• Tomorrow we will have the interest rate decision from the FED. Rates are
  likely to be left on hold but its comments may effect GBPUSD
• US dollar kicked off the week down 0.23% against the aussie dollar,
  0.19% against the Kiwi and 0.13% against the pound but remains flat against
  the euro

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk
Tel: 0207 183 2790

DAILY FX REPORT 17-09-2010

Good Morning,

Friday 17/09/2010. Interbank rates as follows -

POUNDS TO US DOLLARS 1.5700
POUNDS TO EUROS 1.1947
POUNDS TO AUSTRALIAN DOLLARS 1.6601

EUROS TO US DOLLARS 1.3141
EUROS TO POUNDS 0.8369
EUROS TO AUSTRALIAN DOLLARS 1.3895

POUND HEADLINES:

• Retail sales unexpectedly fell last month revealing a 0.5% drop from
  July which is the first decline since January.
• Sterling briefly hit a seven week low against the Euro yesterday but
  quickly rebounded and is currently hovering at 1.1940
• Next week Bank of England will be releasing minutes although this may
  remain neutral.

EURO HEADLINES:

• Euro now sitting above $1.31 which is its highest level since early
  August due to strong demand at a Spanish Bond auction which has reinforced
  confidence in Europe
• German producer prices for August come in at 0.0% missing expectations
  of 0.3%
• Eurozone Construction output for July comes in at -3.1% falling sharply
  from Junes 1.8%

US DOLLAR HEADLINES:

• The pound recovered its losses yesterday and is now sitting above $1.57
• Today at 1.30pm Consumer price Index data is released
• Dollar currently strong against against the Swiss franc and yen but weak
  against the euro and pound

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

03/09/2010 Foreign Exchange Report

Hi All

Friday 03/09/2010. Interbank rates as follows -

POUNDS TO US DOLLARS 1.5410
POUNDS TO EUROS 1.1999
POUNDS TO AUSTRALIAN DOLLARS 1.6922
EUROS TO US DOLLARS 1.2842
EUROS TO POUNDS 0.8333
EUROS TO AUSTRALIAN DOLLARS 1.4103

POUND HEADLINES:

• Sterling continued to fall against the Euro yesterday due to the disappointing housing and construction data
• Data from UK services released this morning. Negative data could knock
  the sterling below 1.2000
• UK PMI Services for August comes in at 51.3 missing expectations of 52.9
  and falling from July's 53.1

EURO HEADLINES:

• ECB keeps interest rates on hold at 1.00% as expected. 2Q GDP Eurozone
  economic activity expanded by 1.00% which was in line with expectations
• ECB has raised its forecast for eurozone growth this year and next year.
  President 'John-Claude Trichet' quoted that the upgrade reflected the
  stronger than expected rebound in the zones economy.
• Monthly eurozone retail figures down this month although year on year
  activity is 1.1% beating expectations of 0.6%

US DOLLAR HEADLINES:

• All eyes will be on Non-Farm Payrolls data this afternoon which is
  expected to show a drop in payrolls of 100k
• GBPUSD: Moves below 1.54 as UK PMI data disappoints and slows much more
  than expected
• Forecasts have predicted a 3rd straight drop in monthly payrolls for
  August therefore expect to see volatility in GBPUSD today

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

FOREIGN EXCHANGE RATES REPORT 02-09-2010

Hi All

Thursday 02/09/2010. Interbank rates as follows -

POUNDS TO US DOLLARS 1.5391
POUNDS TO EUROS 1.2006
POUNDS TO AUSTRALIAN DOLLARS 1.6947
EUROS TO US DOLLARS 1.2825
EUROS TO POUNDS 0.8332
EUROS TO AUSTRALIAN DOLLARS 1.4121

POUND HEADLINES:

• Manufacturing PMI dropped to a nine month low reading 54.3% as house
  prices fall for a 2nd month in a row causing sterling to drop to a 3 week
  low against the euro
• GBPUSD - Sterling stands out as main under performer on Thursday
  following some weaker housing data and concerning IMF (International
  Monetary Fund) debt comments
• Nationwide House price index has confirmed 0.9% drop in August, its
  biggest drop since February 2009

EURO HEADLINES:

• ECB will confirm policy decision later today which should see interest
  rates left on hold at 1.00% followed by press conference
• German growth is expected to perform above average as expected but Italy
  and Spain are expected to underperform (Greece included!), which would make
  it impossible to set rates to encourage growth and control inflation
• GBPEUR - very volatile and just holding above 1.20 this morning

US DOLLAR HEADLINES:

• US manufacturing sector has grown faster than expected which has been
  revealed in August figures
• Key US data tomorrow will see release of Non-Farm Payroll activity
  therefore investors remain cautious ahead of this
• In trading this morning sterling has fallen below $1.54 after the
  release of negative UK housing data

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790

FOREIGN EXCHANGE DAILY SUMMARY 01-09-2010

Hi All

Wednesday 01/09/2010. Interbank rates as follows -

POUNDS TO US DOLLARS 1.5385
POUNDS TO EUROS 1.2029
POUNDS TO AUSTRALIAN DOLLARS 1.6982
EUROS TO US DOLLARS 1.2789
EUROS TO POUNDS 0.8313
EUROS TO AUSTRALIAN DOLLARS 1.4118

POUND HEADLINES:

• Month end buying was favourable for the Euro which in turn saw Sterling
  slide steadily through the day to close back at 1.21
• UK PMI Manufacturing (August) comes in at 54.3% missing expectations of
  57.0% and slipping from July's 56.9%
• Sterling hit a 5 week low against the dollar yesterday as ongoing
  concerns about the global economic recovery lifted safe haven demand

EURO HEADLINES:

• Unemployment in the eurozone remained at a record rate of 10% for a
  fifth month in a row.
• Focus on the Euro will come from Thursdays ECB policy decision where
  Trichet will give the market the latest economic outlook for the eurozone
• The Euro enjoyed slight gains against the dollar yesterday as month-end
  flows saw investors buying back the single currency

US DOLLAR HEADLINES:

• In terms of data, a US consumer confidence survey was released and
  actually managed a slight monthly improvement to suggest that not all is
  doom and gloom, however, a raft of other figures this week are unlikely to
  add much positivity
• Today there is a preview of what last months US job figures look like,
  but we don't expect investors to make many dealing decisions until the real
  data has been seen on Friday
• In trading this morning the euro is continuing to track higher but the
  $1.27 level remains a stiff resistance level

If you need to buy, sell or make an international payment today then please
call me for a free quote.

Kris Charalambides

FX Broker

kris@imsfx.co.uk

www.imsfx.co.uk

Tel: 0207 183 2790