Tuesday 12 October 2010

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

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