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.
- 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 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
call me for a free quote.
Kris Charalambides
FX Brokerwww.imsfx.co.uk
Tel: 0207 183 2790
No comments:
Post a Comment