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