16th April 2018-Sterling maintained a strong position on Friday with an extension to fresh 3-week highs

 

     

Sterling maintained a strong position on Friday with an extension to fresh 3-week highs

Geo-political factors remained important as the US led missile strikes on Syria over the weekend. Markets took a measured stance with net relief and no major support for defensive assets at the Asian open while oil prices corrected significantly lower.

Equity markets were unable to make only limited headway with Chinese markets under pressure after weaker than expected lending data released at the end of last week.

Major currencies were held in narrow ranges with the dollar unable to derive significant support despite a slight increase in bond yields while the yen was resilient and Sterling advanced.

Sterling maintained a strong position ahead of the New York open on Friday with an extension to fresh 3-week highs near 1.4300 for GBP/USD while GBP/EUR rose to fresh 10-month highs above 1.1590.

Sentiment remained firm on valuation grounds with expectations of a May rate hike also underpinning buying support.

High oil prices provided further net Sterling support, although risk conditions were less favourable during the New York session and Sterling was also exposed to profit taking after strong weekly gains.

Overall, there was a GBP/USD retreat to the 1.4240 area while GBP/EUR rallied to 1.1590. Key economic data releases during the week ahead will be important for Sterling sentiment. Even if there is no shift in May Bank of England expectations, the data will shape expectations for the medium-term policy outlook.

Visa reported weak retail spending for March and the weakest first quarter reading for over five years, although Sterling held steady on Monday with GBP/USD back above 1.4250.

     
 
       
 

GBP/EUR 

– 1.1553

 
 

GBP/USD

– 1.4244

 
 

GBP/CHF 

– 1.3718

 
 

GBP/JPY 

– 152.75

 
 

GBP/AUD 

– 1.8350

 
 

GBP/NZD 

– 1.9384

 
 

GBP/CAD

– 1.7972

 
 

GBP/ZAR 

– 16.2103

 
 

GBP/NOK 

– 11.0947

 
 

GBP/SEK 

– 12.0365

 
 

EUR/USD 

– 1.2328

 
       
  All rates are indicative of interbank rates*  
       
 
 

GBP/EUR

 
 

GBP/USD 

 
 

EUR/USD 

 
       
 
   

13:30 USD

US Advance Retail Sales (M/M)

0.40%

-0.10%

 
   

13:30 USD

US Core Retail Sales (M/M)

0.20%

0.20%

 
   

13:30 USD

NY Empire State Manufacturing Index

18.8

22.5

 
   

17:00 USD

FOMC Robert Kaplan Speech

-

-

 
 
   
 
 
*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.