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