BUY SELL CURRENCY 29-10-2010

IMS FX MORNING REPORT for Friday 29th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5907
POUNDS TO EUROS 1.1497
POUNDS TO AUSTRALIAN DOLLARS 1.6357

EUROS TO US DOLLARS 1.3835
EUROS TO POUNDS 0.8698
EUROS TO AUSTRALIAN DOLLARS 1.4259

POUND HEADLINES:

• Bank of England figures this morning have shown that the
  appetite for borrowing among consumers has remained weak in September. The
  number of mortgages approved for house purchases was almost unchanged from
  the previous month
• UK retails sales growth slowed in October, says CBI. The
  CBI said that although sales rose for the fourth month running, the slower
  pace reflected a more subdued housing market
• Data from Nationwide showed UK house prices in October
  fell for the third month in four knocked the pound, but traders said
  persistent buying from Middle East accounts helped sterling rebound higher

EURO HEADLINES:

• Unemployment in Germany has fallen below three million.
  That marks the lowest level since October 1992 according to official Labour
  Office Statistics
• German retail sales for September have come back weaker
  this morning putting pressure on the euro as well as renewed worries about
  the eurozones banking sector and the regions debt problems.
• Eurozone CPI estimate Y/Y comes in slightly higher than
  expected at 1.9% versus 1.8% consensus. Eurozone unemployment rate comes in
  as expected

US DOLLAR HEADLINES:

• US continuing claims fell from a revised 4478k to 4356k
  in the week ended October 16th. 4430k was expected
• US initial jobless claims fell from a revised 455k to
  434k in the week ended October 23rd. 455k was expected
• Today we have the US third quarter GDP, which may feed
  into the debate over how big the Feds asset buying should be this time
  around

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

Pounds to Dollars

IMS FX MORNING REPORT for Thursday 28th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5790
POUNDS TO EUROS 1.1417
POUNDS TO AUSTRALIAN DOLLARS 1.6164

EUROS TO US DOLLARS 1.3827
EUROS TO POUNDS 0.8758
EUROS TO AUSTRALIAN DOLLARS 1.4214

POUND HEADLINES:

• House prices have dropped in October compared with the
  previous month as the property market saw an autumn fall, according to the
  Nationwide. The building society said that prices were down 0.7% compared
  with September.
• Later today UK consumer spending data is due. A slight
  drop is expected which could put the pound under further pressure
• Sterling closed the day above 1.14 against the euro
  yesterday finding support from Bank of England deputy governor Charles Bean
  who said growth in the previous two quarters had been surprisingly strong,
  suggesting that he is unlikely to join the vote to extend QE

EURO HEADLINES:

• Greece's finance minister yesterday said the country's
  economy will shrink by up to 3% in 2011, worse than previously estimated. On
  top of that Portugal's parties fail to agree austerity budget. A failure to
  pass the budget could plunge the country back into the debt crisis it had
  seemingly escaped since summer.
• French Producer prices for September M/M come in at 0.3%
  beating expectations of 0.2%
• Eurozone economic confidence for October comes in at
  104.1 beating expectations of 103.5

US DOLLAR HEADLINES:

• US New home sales rose 6.6% in September to 307k annual
  pace, better than 4.2% expected rise to 300k pace.
• The FOMC on November 3rd remains in the spotlight and
  debate is ongoing how the Fed will react to further easing
• US Durable goods in September rose 3.3% vs. 2.0%
  following a revised -1.0 the month prior.

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

Best Currency Exchange Rates

IMS FX MORNING REPORT for Wednesday 27th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5853
POUNDS TO EUROS 1.1457
POUNDS TO AUSTRALIAN DOLLARS 1.6286

EUROS TO US DOLLARS 1.3872
EUROS TO POUNDS 0.8788
EUROS TO AUSTRALIAN DOLLARS 1.4214

POUND HEADLINES:

• Tuesdays economic growth figures for the three months from July to September were higher than expected even though they showed a slowing of growth to 0.8% from 1.2% in the previous quarter. Tuesdays figure is the strongest quarter figure in a decade. The construction sector proved to be the strongest showing an output which is 11% higher than it was a year ago
• Ratings agency Standard and Poor's revises its outlook on the UK to stable from negative and confirming the UKs AAA rating. Mr Osbourne welcomed what he called a "double dose of good news" for the economy
• Following yesterdays strong GDP figures and S&Ps revised outlook on the UK, the announcements had the effect of dampening speculation of an imminent policy change from the Bank of England to extend quantitative easing.
• Sterling outperformed both the Euro and Dollar along with most other majors yesterday achieving its best daily gain against the euro since June

EURO HEADLINES:

• The euro has had a slight drop this morning as Greece returns to the spotlight. Spreads on 10yr Greek Bonds jumped by 31bps to 9.57% as investors awake to the risk of policy upheaval. "We have not yet escaped the danger. I am sounding the alarm", George Papandreou, the Greek premier said.
• French consumer spending for September M/M comes in at 1.5% beating expectations of 0.4%. The Y/Y figure is 1.1% beating expectations of 0.3%
• French Jobseekers rose 4.6k to a total of 2697.1k. August reading was a 15.9k rise to 2692.5k

US DOLLAR HEADLINES:

• US house prices dip again in august. Prices were down 0.3% versus the previous month. Separately US consumer confidence rose in October although it remains at historically low levels
• This morning a wall street journal article has said the Federal reserve was likely to unveil plans for 'gradual' Treasury purchases at its policy meeting next week, less than the market has been anticipating
• Growing expectations that the Fed may proceed more cautiously than previously thought is giving the dollar a helping hand heading into the Fed' Nov 3rd meeting.

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

BEST CURRENCY RATES POUND TO EURO

IMS FX MORNING REPORT for Tuesday 26th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5842
POUNDS TO EUROS 1.1368
POUNDS TO AUSTRALIAN DOLLARS 1.6027

EUROS TO US DOLLARS 1.3952
EUROS TO POUNDS 0.8796
EUROS TO AUSTRALIAN DOLLARS 1.4098

POUND HEADLINES:

• GDP figures have shown that the UK's economy has grown 0.8% between July and September suggesting the economy is recovering faster than expected. It follows 1.2% growth in the second quarter and is higher than the 0.4% that had been predicted.
• Pound fell to a seven month low yesterday against the euro yesterday following ongoing speculation that the Bank of England may loosen monetary policy.
• Chancellor Osbourne has announced that steady UK recovery is underway and that growth figures should underpin confidence

EURO HEADLINES:

• German GFK confidence for November comes in at 4.9 missing expectations of 5.1
• French consumer confidence indicator for October comes in at -34 beating expectations of -37
• Italian consumer confidence indicator for October comes in at 107.7 beating expectations of 106.5

US DOLLAR HEADLINES:

• The dollar will remain weak due to expectancy that the Fed will pump more money into the economy at their meeting next week but is not clear how much will be injected, which will keep speculation rife and price movements uneven
• The dollar emerged from the weekends G20 meeting as the clear loser among the majors, falling across the board, most notably against the Yen and Aussie dollar
• Today's focus will be on Consumer Confidence figures for October along with house and manufacturing index data released this afternoon

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 25-10-2010

IMS FX MORNING REPORT for Monday 25th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5734
POUNDS TO EUROS 1.1205
POUNDS TO AUSTRALIAN DOLLARS 1.5807

EUROS TO US DOLLARS 1.4042
EUROS TO POUNDS 0.8924
EUROS TO AUSTRALIAN DOLLARS 1.4107

POUND HEADLINES:

• Sterling has been weakening against all major currencies
  following speculation of Quantitative Easing and poor UK retail sales data
  last Thursday. Tomorrows GDP will have a big impact on market expectations
  of QE
• Bank of England MPC member Paul Tucker is scheduled to
  speak at 12.15pm today at the CBI annual conference. His comments will be
  closely scrutinised ahead of next weeks monetary policy meeting where the
  key question is whether the committee will vote for more quantitative easing
  policy measures to support the economy. MPC members Adam Possen and Charles
  Bean also speak later this week
• UK BBA loans for house purchase for September comes in
  this morning at 31,104 beating expectations of 31,000

EURO HEADLINES:

• The EUR/USD breaks through 1.4050 level that had
  restricted the rebound last week. The Euro remains probably the least likely
  of the major currencies to have its upside restricted by official action
• Eurozone Industrial new orders for August M/M comes in at
  5.3% beating expectations of 2.2%. The Y/Y figure is 24.4% beating
  expectations of 19.3%
• Italian Retail Sales data on Friday last week saw August
  figures come back as expected at 0.0% along with very strong German data
  which helped push the Euro higher against all majors

US DOLLAR HEADLINES:

• The US dollar has hit a 15 year low against the Yen after
  the G20 nations agreed to avoid a currency war. The weekend talks held in
  South Korea saw the Group of 20 major advanced and developing nations, agree
  to avoid competing to lower their currencies
• This afternoon from the US we have existing home sales
  for September followed by Dallas Fed Manufacturing Activity for October
• Focus will be the US 3rd quarter GDP figure on Friday.
  Ahead of the Feds November 3rd meeting this figure will likely play a
  significant role in determining whether stimulus is needed
  

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 22-10-2010

IMS FX MORNING REPORT for Friday 22nd October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5689
POUNDS TO EUROS 1.1282
POUNDS TO AUSTRALIAN DOLLARS 1.6045

EUROS TO US DOLLARS 1.3906
EUROS TO POUNDS 0.8863
EUROS TO AUSTRALIAN DOLLARS 1.4222

POUND HEADLINES:

• Retail sales fell again for September, the second month
  in succession they have declined, official data has shown. Sales last month
  were 0.2% lower than August, led by falls in clothing and car fuel sales,
  said the ONS
• Mervyn King stated that the economy was still 'barely
  growing at all' and added that it was a 'key role' for the bank to provide
  stimulus when the economy was in need. The bank has so far put £200bn into
  the economy through QE. Some economists now expect the Bank could inject at
  least another £100bn into the economy following the next meeting of its
  Monetary Policy Committee at the start of November
• House sales in the UK fell in September for the second
  month in a row, HM revenue and Customs figures have shown. Completed sales
  in September were 78k down from 82k in August and slightly lower than in
  September last year. This was the first year-on-year fall in sales in 2010.
  This follows on from Wednesdays news when the CML announced that total
  mortgage lending in September had been £12bn, the lowest September since
  2000
• Main focus for Sterling now will be next weeks 3rd
  quarter GDP figures. The problem for Sterling is the consistent speculation
  about quantitative easing. Any currency that has that prospect hanging over
  it is likely to underperform

EURO HEADLINES:

• Strong German data has been released this morning as
  German IFO business climate comes back at 107.6 beating expectations of
  106.5. This is one of the country's key business sentiment surveys. As the
  largest economy in the Eurozone, the German IFO is a significant economic
  health indicator for the Eurozone as a whole
• Today also sees two ECB speakers in Action, Carlos Costa
  and Ewald Nowotny
• Sterling has now hit a 6.5 month low against the Euro
  after weak UK retail sales data increases concerns that the bank of England
  may opt to inject more stimulus into the faltering economy

US DOLLAR HEADLINES:

• Initial jobless claims fell 23k last week to 452k. Prior
  reading revised from 462k to 475k. Also US continuing claims fell from a
  revised 4450k to 4441k in the week ended Oct 9th (4420k expected)
• US leading indicators rose 0.3% in September, as
  expected. US Philadelphia Fed Index rose from -0.7% to 1.0% in October, less
  than 2.0% expected. Feds Bullard calls unemployment 'unusually' high and
  'persistent'. He says it is unclear how weak financial systems may hinder
  recovery
• The dollar has been boosted with investors cautious of
  the holding onto risky positions ahead of the G20 meeting in South Korea,
  which began 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

IMS FX Morning Report 21-10-2010

IMS FX MORNING REPORT for Thursday 21st October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5781
POUNDS TO EUROS 1.1248
POUNDS TO AUSTRALIAN DOLLARS 1.5983

EUROS TO US DOLLARS 1.4030
EUROS TO POUNDS 0.8890
EUROS TO AUSTRALIAN DOLLARS 1.4210

POUND HEADLINES:

• Yesterdays Minutes revealed that the Bank of England was
  split three ways over policy. Seven of its members voted for no change to
  interest rates and no additional stimulus spending, while one person wanted
  to see rates rise 'Sentance'. The ninth member, Adam Possen, voted to see QE
  - the banks main stimulus measure - restart. This is the means by which the
  bank puts more money into the economy. The Minutes also indicated that while
  most MPC members did not see the case for further quantitative easing at
  present, they did consider the chance it may be needed in the near future
  had increased. Following the release of the banks minutes, the British
  Chambers of Commerce (BCC) repeated its call for QE to be extended
• The Government borrowed a record £16.2bn to plug the gap
  in the public finances in September, figures from the Office for national
  Statistics show. It was the highest borrowing figure for September on
  record, and is unexpectedly up from the £14.8bn borrowed in September last
  year. The Uk's total net debt is also the highest to date at 57.2% of GDP
• Following yesterdays Spending Budget 'Chancellor George
  Osbourne' unveiled the biggest spending cut since World war II with welfare,
  councils and police budgets all hit. Pension age will rise sooner than
  expected to 66 for Men and Women and will start in 2020, six years earlier
  than expected. A new bank levy will also be brought in with full details
  today. £81 billion will be cut from from public spending over the next 4
  years. Mr Osbourne said the four years cuts were guided by fairness, reform
  and growth
• UK major banks mortgage approvals for September come in
  as expected at 44k and UK retail sales for September M/M come in at 0.0%
  missing expectations of 0.2%. The Y/Y figure is 1.8% missing expectations of
  1.9%

EURO HEADLINES:

• The growth in French Industrial Orders slowed down in
  August after a bumper month in July, figures have shown. new manufacturing
  orders, excluding heavy transport equipment rose 0.8% in August, after a
  2.6% increase in July, the Insee statistical agency said. The rate at which
  industry orders are taken is seen as a leading indicator of the health of
  the economy
• Eurozone PMI composite for October comes in at 53.4
  missing expectations of 53.7. PMI services for same month also comes in
  lower than expected at 53.2 missing an expected 53.7
• PMI manufacturing data for Eurozone (Oct) comes in
  beating expectations of 53.2 at 54.1

US DOLLAR HEADLINES:

• After a quiet week on the data front, US jobless claims
  and the Philadelphia Fed Survey will be published today. Last week saw a
  sharper than expected rise in jobless claims to 462k but is expected to be
  largely reversed this week, with claims forecasts to fall back to 455k
• US dollar initially recovered yesterday on Geithers
  comments, but underlying weakness remains in anticipation of QE expansion at
  the November 3rd FOMC
• This afternoon Feds Bullard speaks in St Louis and could
  give greater insight into the measure to be taken to stimulate the
  struggling US economy

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 19-10-2010

IMS FX MORNING REPORT for Tuesday 19th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5781
POUNDS TO EUROS 1.1339
POUNDS TO AUSTRALIAN DOLLARS 1.5982

EUROS TO US DOLLARS 1.3916
EUROS TO POUNDS 0.8818
EUROS TO AUSTRALIAN DOLLARS 1.4094

POUND HEADLINES:

• The UK recovery is losing momentum and will slow over the
  winter but chances of a double dip recession have been "exaggerated" says
  forecasters. GDP will grow 1.4% this year and 2.2% in 2011, the Ernst &
  Young ITEM club predicted. the report comes ahead of the Government Spending
  Review which many fear will stun the economy
• Sterling closed the day on Monday against the euro below
  1.14 and in trading this morning sterling remains on the back foot and will
  likely remain vulnerable ahead of the UK Governments spending review as well
  as the Bank Of England minutes
• Former BOE policy maker Barker says relying on more BOE
  stimulus for growth is misplaced, more stimulus may stoke CPI more than
  growth

EURO HEADLINES:

• Eurozone current account for August comes in at -10.5bn
  blowing out from Julys 3.4bn surplus
• Eurozone construction output for August (M/M) comes in at
  -0.4%. The Y/Y figure is -8.5% widening from Julys -6.9%
• The Euro briefly slipped against the dollar last night
  after Geithner announced that the US will preserve confidence in a strong
  dollar and 'will not engage' in currency devaluation

US DOLLAR HEADLINES:

• The dollar received a slight boost from Treasury
  Secretary Tim Geithner who said that the US would not engage in dollar
  devaluation and needed to work hard to preserve confidence in a strong
  dollar
• The dollar rose against the euro for a second straight
  session yesterday as investors scaled back expectations of the size of a
  second round of quantitative easing
• Further asset purchases by the US Fed Reserve appear to
  be priced in, while at the other end of the scale, the ECB looks unlikely to
  undertake any further form of quantitative easing policy measures for now

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 18-10-2010

IMS FX MORNING REPORT for Monday 18th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5875
POUNDS TO EUROS 1.1431
POUNDS TO AUSTRALIAN DOLLARS 1.6111

EUROS TO US DOLLARS 1.3887
EUROS TO POUNDS 0.8747
EUROS TO AUSTRALIAN DOLLARS 1.4093

POUND HEADLINES:

• GBP Rightmove Houseprices (MoM) for October up 3.1%
  versus -1.1% in the prior period. YoY Houseprices for October up 2.9% versus
  2.6% in the prior period. This is the biggest rise in 8 months.
• Major focus this week is the Governments public spending
  review along with the Bank of England Minutes both due out on Wednesday
• Sterling hit an 8 month high against the dollar on Friday
  although this was short lived as profit taking saw the price drop back below
  1.60

EURO HEADLINES:

• Sterling ended the week against the Euro on a more
  positive tone following comments from ECB president Trichet over the Bond
  buying programme remaining uncertain
• Having touched its highest point against the dollar since
  January, euro fell back below 1.40 with investors unwilling to risk leaving
  short dollar positions open over the weekend
• Economic calendar in Europe is quiet today with the only
  release coming from some secondary Italian current account

US DOLLAR HEADLINES:

• US September monthly budget statement shows a deficit of
  34.5bn vs. a deficit of 32bn as expected
• Data on Friday revealed that inflation failed to rise in
  September with the Core Consumer Price showing a figure of 0.0% against
  expectations of 0.1% further underlying the need for QE
• Bernanke's speech on Friday afternoon was the key event
  on Friday and his reiteration of weak underlying inflation led to another
  short round of dollar selling

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 - 15-10-2010

IMS FX MORNING REPORT for Friday 15th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.6052
POUNDS TO EUROS 1.1409
POUNDS TO AUSTRALIAN DOLLARS 1.6139

EUROS TO US DOLLARS 1.4080
EUROS TO POUNDS 0.8781
EUROS TO AUSTRALIAN DOLLARS 1.4156

POUND HEADLINES:

• Pound has stayed close to a 6 month low against the euro
  due to concerns that the Bank of England could ease monetary policy further
  although sterling did hit an 8 month high against the dollar yesterday
• MPC Sentance who has been calling for immediate interest
  rate hikes has found some support from former MPC members Julius and Lomax
  both in the papers this morning with hawkish views
• Investors now looking towards next weeks BOE minutes
  released by BOE. Next week we will also see a key announcement on the
  coalitions comprehensive spending review

EURO HEADLINES:

• In the Eurozone CPI for September M/M comes in as
  expected at 0.2%. The Y/Y figure is as expected at 1.8%
• Eurozone Trade balance for August comes in at -1.4B
  missing expectations of 0.8B. This data has come back much worse than
  expected.
• Euro data for Industrial Production rose yesterday by 1%
  in August after a 0.1% increase helping to give the single currency an added
  boost

US DOLLAR HEADLINES:

• US dollar is getting punished against most major
  currencies ahead of today's economic news. Lots of data due out this
  afternoon including Retail Sales and CPI.
• Yesterday US Trade balance for August came back at
  -$46.3b missing expectations of -$44.0b
• US Core Producer & Producer Prices both showed
  improvements whilst initial jobless claims rose to 462k amid expectations of
  445k

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 13-10-2010

IMS FX MORNING REPORT for Wednesday 13th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5857
POUNDS TO EUROS 1.1338
POUNDS TO AUSTRALIAN DOLLARS 1.6029

EUROS TO US DOLLARS 1.3984
EUROS TO POUNDS 0.8819
EUROS TO AUSTRALIAN DOLLARS 1.4139

POUND HEADLINES:

• Sterling fell yesterday against the euro following on
  from comments from a UK policymaker. David Miles commented that '
  Quantitative easing remains a potentially powerful tool and one that we
  might come to use'
• Focus today turns to UK jobless claims and ILO
  unemployment rate release for September. A slightly improved claimant count
  figure is expected but will have to be a great jump in order to lend the
  pound any real support
• Yesterdays data revealed that Consumer Price Inflation is
  at 3.1% for September which is still more than a percentage above the Bank
  of England's target rate of 2%
• Nationwide Consumer Confidence for September has come
  back at 53 versus an expected 59 and 62 in the prior period. UK consumer
  confidence is at an 18 month low

EURO HEADLINES:

• French CPI data comes back lower than expected for
  September at -0.1% missing expectations for 0.2%. The Y/Y figure is 1.6%
  missing expectations of 1.7%
• Eurozone Industrial Production for August M/M comes back
  at 1.0% beating an expected 0.8%. The Y/Y figure is 7.9% beating
  expectations of 7.4%
• Euro dropped slightly yesterday against pound and dollar
  but later recovered its losses supported by comments from a member of the
  ECB which highlighted the difference in policy direction between the Fed,
  BOE and ECB, raising demand for the single currency

US DOLLAR HEADLINES:

• USD came under slight pressure following on from the Feds
  minutes. FOMC stated 'employment rising 'only slowly' but double dip
  recession unlikely. Saw 'only small odds of deflation'. This has heightened
  the argument that the Fed may opt for QE at their next meeting, further
  undermining the dollar
• This week we have further data from the US in the form of
  Producer/ Retail Price Indexes and CPI figures as the dollar remains
  volatile heading toward the end of the week
• The pound lost further ground against the dollar
  yesterday as the prospects for the UK's monetary policy grabbed market
  attention

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 12-10-2010

IMS FX MORNING REPORT for Tuesday 12th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5837
POUNDS TO EUROS 1.1455
POUNDS TO AUSTRALIAN DOLLARS 1.6157

EUROS TO US DOLLARS 1.3820
EUROS TO POUNDS 0.8729
EUROS TO AUSTRALIAN DOLLARS 1.4105

POUND HEADLINES:

• UK CPI for September comes in as expected at 0.0%. The
  annual figure comes in at 3.1% as widely expected.
• UK RPI for September M/M comes in at 0.4% beating
  expectations of 0.1%. The Y.Y figure is 4.6% beating expectations of 4.4%
• UK visible trade balance for August comes in at -8227
  missing expectations of -8050 and the UK total trade balance for August
  comes in at -4643 missing expectations of -4388
• Sterling fell yesterday against the dollar ahead of the
  UK consumer Prices Report. Inflation figures released this morning may still
  add weight on the GBP

EURO HEADLINES:

• German CPI for September M/M comes in as expected at
  -0.1%. The Y/Y figure also met expectations coming in at 1.3%
• French Current Account for August comes in at -0.4bn
  blowing out Julys -2.1bn
• The US Holiday and a void of key data kept trading
  volumes relatively thin at the start of the week aside from a couple of
  second tier eurozone production figures there was hardly any movement
  between sterling and euro yesterday closing at 1.1440

US DOLLAR HEADLINES:

• USD gained overnight against most major currencies
  including the euro and pound following on from hawkish comments from Feds 'Yellen'
• The dollar did also receive a slight boost following
  Chinas decision to raise the deposit reserve ratio for certain major banks,
  which has the potential to slow demand
• Focus today will be on the minutes from the Federal
  Reserves September policy meeting, which are due out this evening. The
  minutes will give a fresh insight into the Central Banks thinking on further
  monetary easing

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 11-10-2010

IMS FX MORNING REPORT for Monday 11th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5940
POUNDS TO EUROS 1.1431
POUNDS TO AUSTRALIAN DOLLARS 1.6177

EUROS TO US DOLLARS 1.3945
EUROS TO POUNDS 0.8749
EUROS TO AUSTRALIAN DOLLARS 1.4154

POUND HEADLINES:

• Following on comments from an ECB member sterling picked
  up to climb back above 1.14. Sterling was able to reserve some of the weeks
  losses after Eurogroup Chairman Jean-Claude Juncker said the euro was too
  strong
• Focus this week will be on tomorrows UK inflation figure
  where the rate is expected to hold above 3.0%
• Sterling rose to a near 8 month high against the dollar
  on Friday following on from disappointing data from the US but held short of
  retesting the 1.60 level.

EURO HEADLINES:

• Weak data this morning as French manufacturing production
  M/M comes in at 0.0% missing expectations of 0.4%. The Y/Y figure is 3.2%
  missing expectations of 3.7%
• French Industrial Production for August again comes in
  lower than expected at 0.0% missing expectations of 0.3%. The Y/Y figure is
  3.2% missing expectations of 3.6%
• Strong data from Italian Industrial production for August
  M/M comes in at 1.6% blowing past expectations of 0.1%. The Y/Y figure is
  12.8% beating 9.6% forecast

US DOLLAR HEADLINES:

• US Non-Farms Payroll for September came back at -95k
  versus expectations of -5k. The fall was almost double Augusts 54,000 job
  loss number. The news increases expectations that the US federal reserve
  will take further action
• The US dollar has now suffered four straight weekly
  declines against the euro, its longest stretch of losses since December 2008
  as investors speculate that the Federal reserve will debase the currency by
  stepping up purchases of government debt
• Tomorrow we have USD Federal Open Market Committee
  Meeting Minutes

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 08-10-2010

IMS FX MORNING REPORT for Friday 8th October 2010

Today's Interbank rates -

POUNDS TO US DOLLARS 1.5871
POUNDS TO EUROS 1.1433
POUNDS TO AUSTRALIAN DOLLARS 1.6303

EUROS TO US DOLLARS 1.3881
EUROS TO POUNDS 0.8746
EUROS TO AUSTRALIAN DOLLARS 1.4260

POUND HEADLINES:

• Yesterday the UK saw a record drop in house prices
  falling by 3.6% in September but we did see better than expected
  manufacturing production data which did briefly push sterling up but was
  unable to sustain its gains to close virtually unchanged against the euro at
  1.1423
• Interest rates were kept on hold at 0.5% for the 19th
  consecutive month. The bank announced it would not be expanding its 200bn QE
  programme. QE is the banks policy of pumping more money into the economy in
  order to increase the supply of money and stimulate growth
• UK PPI output for September M/M comes in at 0.3% beating
  expectations of 0.1%. The Y/Y figure is 4.4% beating expectations of 4.3%
• UK PPI input for September M/M comes in at 0.7% again
  beating expectations of 0.4%. The Y/Y figure is 9.5% beating expectations of
  8.6%

EURO HEADLINES:

• Euro hit a high of above 1.40 yesterday against the
  dollar, the highest since January but was unable to sustain this level and
  closed the day just above 1.39
• ECB interest rates were left on hold yesterday at 1.0%
  which again was no real surprise. ECB president Trichet said 'ECB policy
  makers in exactly the same mood as a month ago', didn't change assessment at
  all
• German imports and exports both come back this morning
  weaker than expected for August

US DOLLAR HEADLINES:

• Today we have Non Farm Payrolls data from the US. A surge
  in new non-farm payrolls suggests rising employment and potential inflation
  measures, which the Fed often counters with rate increases. On the other
  hand, a consistent decline suggests a slowing economy, which makes a decline
  in rates more likely
• Sterling rose above 1.60 for the fist time since February
  on the back of positive UK factory output but gains was short lived and
  closed just above 1.59
• Next week we have a host of data from the US in the form
  CPI, PPI and advanced retail sales

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 07-10-2010

Good Morning,

IMS FX MORNING REPORT - Thursday 7th October 2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5921
POUNDS TO EUROS 1.1400
POUNDS TO AUSTRALIAN DOLLARS 1.6101

EUROS TO US DOLLARS 1.3965
EUROS TO POUNDS 0.8771
EUROS TO AUSTRALIAN DOLLARS 1.4119

POUND HEADLINES:

• UK house prices have fallen by 3.6% in September from the
  previous month according to the latest figures from Halifax. The 3.6% drop
  was the biggest fall in month on month prices since the figures were first
  compiled in 1983
• Sterling has been underperforming against most currencies
  due to expectation of further quantitative easing measures and the latest
  housing data does not help
• As the pound continues to fall , focus today will be on
  the policy announcements from both the Bank of England and the European
  Central bank this afternoon at 12pm and 13.30 respectively

EURO HEADLINES:

• German factory orders rose by 3.4% in September above
  expectations enhancing the strength of the euro
• The euro has risen by more than 9% since the start of
  September against the dollar which reflects the fact that the ECB is one of
  the only large central banks that is actually not putting pressure on its
  currency by announcing or considering quantitative easing
• Irelands rating was cut yesterday to A+ by 'Fitch'
  although this again has had no real impact on the value of the euro

US DOLLAR HEADLINES:

• US dollar is at multi-year or all-time lows versus all
  major rivals except the euro and pound - where it is at multi-month lows
• US ADP employment change unexpectedly fell by 39k versus
  expectations for a 20k gain
• Former Fed chairman Volker says 'emerging world' growth
  'in terrific form' but global imbalances 'need to be corrected'

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 06-10-2010

Good Morning,

IMS FX MORNING REPORT - Wednesday 6th October 2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5902
POUNDS TO EUROS 1.1474
POUNDS TO AUSTRALIAN DOLLARS 1.6276

EUROS TO US DOLLARS 1.3858
EUROS TO POUNDS 0.8714
EUROS TO AUSTRALIAN DOLLARS 1.4186

POUND HEADLINES:

• Despite good UK services sector data the pound has fallen
  again this morning against the euro amid concerns that the economy may
  require further monetary easing
• Sterling rose to a 2 month high yesterday against the
  dollar despite underperforming against most other currencies thanks to
  better than expected PMI services data
• Pound may be volatile today ahead of tomorrows BOE nterest rate decision where it is expected that interest rates will remain on hold

EURO HEADLINES:

• Been the inform currency at the moment the Euro seems to
  have shrugged off warnings from 'Moody's' about Irelands credit rating
• The euro almost hit an 8 month high against the dollar
  yesterday due to persistent demand from Asian Sovereign Accounts which are
  willing buyers when the price dips
• Eurozone Q2 GDP comes back as expected (QoQ) 1.0% and
  (YoY) 1.9% as expected

US DOLLAR HEADLINES:

• US Services sector expanded slightly more than expected
  in September although this had no real impact on the dollar
• US employment figures are in focus today although this is
  unlikely to change the Feds attitude towards additional stimulus measures
• In the US ABC consumer confidence fell from -45 to -47 in
  the week ended October 3rd

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 05-10-2010

Good Morning,

IMS FX MORNING REPORT - Tuesday 5th October 2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5876
POUNDS TO EUROS 1.1517
POUNDS TO AUSTRALIAN DOLLARS 1.6541

EUROS TO US DOLLARS 1.3784
EUROS TO POUNDS 0.8672
EUROS TO AUSTRALIAN DOLLARS 1.4362

POUND HEADLINES:

• Better than expected data from the UK construction
  industry helped the pound enjoy a more upbeat tone yesterday climbing back
  above 1.15 to close the day at 1.1564
• Pound does remain vulnerable ahead of Thursdays bank of
  England policy decision although few expect any change to rates although
  there is a possibility of additional monetary easing measures still in the
  spotlight
• UK PMI services for September comes in at 52.8 beating
  expectations of a drop to 51.0 unexpectedly easing double dip fears

EURO HEADLINES:

• Eurozone retail sales for August M/M comes in at -0.4%
  massively missing expectations for the 0.2%. the Y/Y figure is 0.6% missing
  expectations of 1.3%
• ECB said its purchases of government bonds in the past
  week rose to their highest level in 3 months against a background of
  increasing market fears for the financial health of Ireland and Portugal.
  Moody's senior analyst 'Thomas' says a change in economic outlook wont
  'rescue' Portugal and even with deficit cut debt will remain high
• Eurozone PMI services for September comes in at 54.1
  beating expectations of 53.6

US DOLLAR HEADLINES:

• Figures from US showed an improvement with pending sales
  of previously owned US houses rising to a 4 month high indicating the
  housing market may be picking up
• US currency is enjoying a stronger demand as investors
  cut their Yen positions due to the Japanese central bank lowering its
  interest rates
• Feds Bernanke says 'He sees growing economic threat from
  rising Federal debt. Rising Federal debt may lead to higher interest rates

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 04-10-2010

Good Morning,

IMS FX MORNING REPORT - Monday 4th October 2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5794
POUNDS TO EUROS 1.1535
POUNDS TO AUSTRALIAN DOLLARS 1.6340

EUROS TO US DOLLARS 1.3692
EUROS TO POUNDS 0.8669
EUROS TO AUSTRALIAN DOLLARS 1.4166

POUND HEADLINES:

• UK PMI construction comes in at 53.8 for September
  beating expectations of 51.4
• On Thursday BOE announces its interest rate decision. A
  hawkish outlook from the bank and a rate rise would be positive for the
  sterling. Dovish comments could see the GBP lose further ground to the euro
• Chancellor Osbourne has quoted that the UK has moved out
  of financial data zone and that the UK is set for a steady, sustainable
  recovery. There is no indication that UK banks will need more support. He
  also says he has agreed to a 'truly radical reform of welfare which will
  greatly reduce the cost of welfare'.

EURO HEADLINES:

• Euro reached a seven month high against the dollar last
  week near 1.58
• German based Sentix Research Institute reported today
  that investor confidence rose to the highest level in almost 3 years in
  October. The index touched 8.8 beating expectations of 8.0. Sentix said that
  demand from emerging economies brightened the outlook
• Eurozone PPI (Aug) M/M comes in at 0.1% missing
  expectations of 0.2%. The Y/Y figure comes in as expected at 3.6%

US DOLLAR HEADLINES:

• US housing figures are in focus this afternoon but
  attention will be on Fridays monthly payroll data which is likely to have a
  significant impact on the Feds next policy decision
• Manufacturing figures from the Institute for Supply
  Management supported the Feds forecast of modest US growth but did little to
  shift sentiment
• The dollar has remained under heavy pressure against most
  currencies amid concerns that the US may have to pump more money into its
  ailing economy

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 - 01-10-2010

Good Morning,

IMS FX MORNING REPORT - Friday 1st October 2010

Interbank rates as follows -

POUNDS TO US DOLLARS 1.5853
POUNDS TO EUROS 1.1537
POUNDS TO AUSTRALIAN DOLLARS 1.6308

EUROS TO US DOLLARS 1.3740
EUROS TO POUNDS 0.8667
EUROS TO AUSTRALIAN DOLLARS 1.4132

POUND HEADLINES:

• Sterling has fallen to a 4 month low against the euro now
  trading in the low 1.15s
• UK PMI Manufacturing comes in slightly weaker at 53.4
  versus 53.8 expected
• UK bank of England housing equity withdrawal at - GBP
  6.2Bn versus forecasts for - GBP 2.9Bn - previous revised lower to GBP 5.3Bn

EURO HEADLINES:

• Eurozone unemployment comes in at 10.1% slightly weaker
  than 10% expected and 10.0% previous.
• Eurozone manufacturing PMI comes in slightly firmer at
  53.7 versus 53.6 consensus estimates
• Euro did come under slight pressure yesterday following
  on from downgrade of Spain's sovereign debt by rating agency Moody's, also
  adding to worry was Ireland announcing a 34bn cost on bailing out Allied
  Irish bank.

US DOLLAR HEADLINES:

• Pound hit a seven week high yesterday reaching above 1.59
  however gains was short lived and closed half a cent lower on the day
• US initial Job claims declined to 453k versus 460k,
  continuing claims fell to 4457 from 4540k
• US GDP Q2 improved to 1.7% on an annualised basis, with
  personal consumption rising to 2.2% from 2.0%

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