13th September 2018-Risk appetite was underpinned by proposals to hold a fresh round of US-China trade talks

 

     

Risk appetite was underpinned by proposals to hold a fresh round of US-China trade talks

Risk appetite was underpinned by proposals to hold a fresh round of US-China trade talks and equity markets secured net relief despite an underlying lack of conviction.

The dollar drifted lower after weaker than expected producer prices data and there was also a significant recovery in commodity currencies.

Brexit hopes underpinned the Euro and Sterling, although both were held below weekly highs against the US currency with caution ahead of monetary policy meetings.

Oil prices pushed to 1-week highs before a sharp corrective retreat as Brent failed to hold the $80.0 p/b level.

Brexit uncertainty continued to have an important impact during Wednesday amid underlying policy uncertainty. Prime Minister May continued to insist that the Chequers plan was the only way forward as Conservative Brexit rebels proposed alternative Irish border arrangements.

The UK currency secured some relief as rebel Conservative Party MPs stated that they wanted May to remain in office, although there was still under-performed relative to the Euro and commodity currencies. European Commission head Juncker renewed a pledge for close trade and security ties with the UK after Brexit.

GBP/USD found support below 1.3000 and spiked higher after reports that the EU had begun to redraft the Northern Irish border protocol to ease UK concerns. After peaking around 1.3080, GBP/USD faded again as resistance held.

There are no expectations of a Bank of England monetary policy change on Thursday, although the statement’s tone could still be important for sentiment with the UK currency unable to make further gains as GBP/EUR traded above 1.1250.

     
 
       
 

GBP/EUR 

– 1.1211

 
 

GBP/USD

– 1.3038

 
 

GBP/CHF 

– 1.2636

 
 

GBP/JPY 

– 145.29

 
 

GBP/AUD 

– 1.8142

 
 

GBP/NZD 

– 1.9887

 
 

GBPCAD

– 1.6962

 
 

GBP/ZAR 

– 19.4184

 
 

GBP/NOK 

– 10.7673

 
 

GBP/SEK 

– 11.7007

 
 

EUR/USD 

– 1.1627

 
       
  All rates are indicative of interbank rates*  
       
 
 

GBP/EUR

 
 

GBP/USD 

 
 

EUR/USD 

 
       
 
   

07:00 EUR

Germany CPI (Y/Y)

2.00%

2.00%

 
   

12:00 GBP

BOE Interest rate vote 

0-0-9

9-0-0

 
   

12:00 GBP

BOE Rate Decision (M/M)

0.75%

0.75%

 
   

12:45 EUR

ECB Rate Decision

0.00%

0.00%

 
 
   
 
 
*All rates shown are indicative of interbank rates and should only be used for indication purposes only. It is important to note that foreign exchange rates fluctuate and that rates may vary depending on the amount and the base currency that is purchased or sold. Rates are correct as of 8:00am UK time.  CentralFX are not responsible for the rates shown.
 
 
 

Sign up to our newsletter

  1. Please tell us your name(*)
    Please use only alpha-numeric characters
    Please use only alpha-numeric characters
  2. Your Email(*)
    Please let us know your email address.
  3. Business / Personal(*)
    Invalid Input
  4. Please tell us a telephone number you can be contacted on(*)
    Please use only numbers and hyphens

Get in touch

CentralFX

3 Lloyds Avenue
London, EC3N 3DS

+44 (0) 20 7265 7979

info@centralfx.co.uk

We trade currency here. You can trade currencies too. Why not try our currency calculator and use our currency chart and currency economic calculator. Currency is everything here.We trade currency here. You can trade currencies too. Why not try our currency calculator and use our currency chart and currency economic calculator. Currency is everything here.We trade currency here. You can trade currencies too. Why not try our currency calculator and use our currency chart and currency economic calculator. Currency is everything here.

.We trade well business here. You can trade business too. Why not try our with business and use our business chart and business economic. business is business here.

We use well business use here. You can trade with great use. Why not use our with use and use our business chart and use economic. business us business use.We use well business use here. You can trade with great use. Why not use our with use and use our business chart and use economic. business us business use.We use well business use here..

Why not trade with our trade and use our trade chart and trade economic.You can trade as we trade too. Why not trade with our trade and use our trade chart and trade economic. trade is trade here.We trade well trade here. You can trade as we trade too. Why not trade with our trade and use our trade chart and trade economic. trade is trade here

.We centralfx well centralfx here. You can centralfx as we centralfx too. Why not trade with centralfx our centralfx and use our centralfx chart and centralfx economic. centralfx is centralfx here.We centralfx well centralfx here. You can centralfx as we centralfx too.