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05 Apr 2017

Corporate FX Daily Update 05.04.2017

EUR/USD 1.0678
GBP/EUR 1.1647
GBP/USD 1.2437
EUR/GBP 0.8548


The Pound dipped for a brief period during yesterday’s trading on the release of a lower than expected Construction PMI.


The Pound traded at 1.1700 against the Euro and 1.2465 against the Dollar.


Following Macron’s televised debate prior to elections on the 23rd of April, the Euro found some support. Higher than expected Retail Sales for February had limited impact on the euro in the morning session.


The euro picked up against the dollar around 1.0635, from a three-week low.


The Australian Dollar underwent little change following the increase of Global Dairy Trade Price Index that rose to 1.6%.


Today markets will keep a close eye on the following updates that may affect currency movement.:

  • The ADP Employment Change figure will be released this afternoon at (13:15 BST). Markets forecast a lower 187K following February’s jump to 298K.
  • This could prompt volatility in the dollar and commodity-linked currencies ahead of the official NonFarm Employment Change data figure on Friday.
  • The US’s Non-Manufacturing PMI (15:00 BST) expects to slow from 57.6 to 57.0.
  • Markets will closely focus on the Fed’s March meeting minutes at (19:00 BST) for any guidance on the timing of the next interest rate hike.
  • The RBA Assistant Governor Debelle Speaks (23:40 BST)
  • Today the European Parliament votes on a resolution outlying its terms for a Brexit agreement with the United Kingdom.




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