12th March 2018- Sterling was unable to make headway on Monday amid reports of weak consumer spending

 

     

Sterling was unable to make headway on Monday amid reports of weak consumer spending

US employment data was mixed with a very strong 313,000 gain in February non-farm payrolls offset by subdued earnings growth. In this environment, there was confidence in growth and reduced concerns surrounding inflation risks.

US equities moved sharply higher in response to the data with fresh optimism surrounding a ‘goldilocks’ scenario. Global stocks also made headway, especially as immediate trade tensions remained lower with a strong advance in oil prices.

There was an overall dip in demand for defensive currencies as equity markets moved higher while EUR/USD was trapped in narrow ranges, although Japanese political concerns limited USD/JPY support.

UK industrial production increased 1.3% for January, reversing the decline seen for December as oil output increased, although the data was slightly weaker than expected while the trade deficit widened slightly and construction output declined sharply. The NIESR estimated GDP growth of 0.3% in the year to February from a downwardly-revised 0.4% previously with the data overall maintaining expectations of subdued growth.

GBP/EUR bounced from 1.1150 while GBP/USD settled close to 1.3850 amid choppy trading with Sterling sentiment boosted by strong risk appetite.

Latest CFTC data recorded the lowest net, long Sterling position for over three months as sentiment remained more cautious. The UK currency was unable to make headway on Monday amid reports of weak February consumer spending.

     
 
       
 

GBP/EUR 

– 1.1243

 
 

GBP/USD

– 1.3864

 
 

GBP/CHF 

– 1.3156

 
 

GBP/JPY 

– 147.75

 
 

GBP/AUD 

– 1.7604

 
 

GBP/NZD 

– 1.8939

 
 

GBP/CAD

– 1.7759

 
 

GBP/ZAR 

– 16.3693

 
 

GBP/NOK 

– 10.7511

 
 

GBP/SEK 

– 11.4048

 
 

EUR/USD 

– 1.2328

 
       
  All rates are indicative of interbank rates*  
       
 
 

GBP/EUR

 
 

GBP/USD 

 
 

EUR/USD 

 
       
 
   

10:00 EUR

German ZEW Survey (Economic Sentiment)

-

17.8

 
   

12:30 USD

US CPI (Y/Y)

2.10%

2.10%

 
   

12:30 USD

US CPI Ex Food & Energy (Y/Y)

1.80%

1.80%

 
   

14:30 CAD

BoC Gov Poloz Speaks

-

-

 
 
   
 
 
*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.