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04 Apr 2017

Corporate FX Daily Update 04.04.2017

EUR/USD 1.0658
GBP/EUR 1.1668
GBP/USD 1.2437
EUR/GBP 0.8574


Sterling fell back below 1.1700 against the Euro and 1.2500 against the US Dollar yesterday. This followed the lower than expected release of Manufacturing PMI data that dipped to 54.2 from 54.6.


The Euro suffered little change after the Eurozone’s unemployment rate fell to 9.5% in February - the lowest since 2009.


US ISM Manufacturing PMI slowed less than forecast. The index fell from 57.7 to 57.2.


The Reserve Bank of Australia decision to keep interest rates on hold at 1.5% caused the Australian Dollar to weaken.


Today, markets focus on:

  • Eurozone Retail Sales (10:00 BST). These are forecast to pick, which could offer the Euro some support.
  • In the afternoon, Canada and the US both release trade data (13:30 BST).
  • The US releases February Factory Orders at (15:00 BST).
  • ECB President Draghi speaks this afternoon (15:30 BST) at the launch of the new 50 Euro note.
  • The Kiwi Dollar will keep a close eye on Global Dairy Trade Price Index, which rose 1.7% last auction.
  • Markets will watch for any guidance on the direction of monetary policy when US Fed Member Tarullo, speaks this evening (21:30 BST).




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