News
06 Apr 2017

Corporate FX Daily Update 06.04.2017

MORNING RATES
EUR/USD 1.0676
GBP/EUR 1.1695
GBP/USD 1.2486
EUR/GBP 0.8551

 

Latest movement on the currency front seen Sterling jump by .4% against both the Euro and the Dollar. This followed a higher than expected rise in Services PMI from 53.3 to 55.0, marking this the strongest rise so far this year.

 

The Pound traded above 1.1700 against the Euro again.

 

The Euro fell by .5% against both the Pound and the Dollar this morning following comments from ECB President Draghi.

 

The US ADP Employment Change surprised with an increase to 263K versus the market forecast of 184K.

 

Falling to a five month low, the US Non-Manufacturing PMI disappointed as the ISM index dropped to 55.2

 

Weekly US Crude Oil Inventories rose more than expected, weighing on oil prices and the Canadian dollar.

 

Markets are keeping a close watch on today’s ECB’s Monetary Policy Meetings (12:30 BST). Markets will watch for any guidance on the monetary policy. ECB speakers include Constancio (12:45, 18:15 BST) and Praet (17:40 BST).

 

The US releases its weekly Initial Jobless Claims which is forecast to fall back down to 250K, while Canada releases February housing data at (13:30 BST).

 

Other focus surrounds US President Trump’s meeting with Chinese President Xi Jinping this afternoon.

 

 

 

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