Today's Interbank rates -
POUNDS TO US DOLLARS 1.5638
POUNDS TO EUROS 1.1840
POUNDS TO AUSTRALIAN DOLLARS 1.6154
EUROS TO US DOLLARS 1.3207
EUROS TO POUNDS 0.8445
EUROS TO AUSTRALIAN DOLLARS 1.3643
POUND HEADLINES:
- The UK's manufacturing sector grew at its fastest rate
for 16 years in November. The PMI climbed to 58, compared with a revised
rate of 55.4 in October which was well ahead of analysts expectations. The
figure was boosted by record growth in manufacturing jobs which helped
compile the survey. - Sterling slipped against the euro yesterday following the
Portuguese bond auction receiving high demand. The government auction of 12
month bills attracted bills for 2.5 times the amount offered. - UK PMI construction for November comes in at 51.8 beating
expectations of 51.30
EURO HEADLINES:
- Today's key event is the ECB council meeting, where
markets will be watching out for ECB President Jean-Claude Trichet's latest
assessment of its 'non-standard' policy stimulus measures - We also have the second estimate of eurozone Q3 GDP
published today, where it is expected there will be an unrevised outturn of
+0.4% quarter-on-quarter. - It is expected that euro strength will be short lived.
The so called 'GIPSI' countries (Greece, Ireland, Portugal, Spain and Italy)
are still very much on the markets radar and investors will be watching
closely for any hint from Trichet that the ECB plans to extend
'non-standard' stimulus measures.
- Yesterdays data from the US struck a positive note with
the institute for Supply Managements Factory Index showing US manufacturing
expanded for a 16th straight month in November, whilst an employment agency
revealed a boost in payrolls. - In the US today we have the latest weekly US jobless
claims data, along with pending house sales for October.
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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