日本語
Español
中文
Русский 
- New York 07:34
- London 12:34
- Barcelona 13:34
- Tokyo 21:34
- Sydney 23:34
Daily World Market Update
11
0
Pound Idles Lower
Fri, Nov 20 2009, 10:59 GMT
by Jeremy Cook
All this and more is available on our video blog
The pound continued to dribble lower yesterday as the market continued to digest the Bank of England’s November Minutes. The news that the BOE is continuing to place weight behind a plan to cut the interest rate that commercial banks receive on deposits was the major unexpected sentence in the minutes and has hurt sterling accordingly.
The pound was buoyed however by retail sales for October that rose at the fastest rate since the beginning of the downturn. The combination of rubbish bought for the second largest commercial fraud after Valentine’s; Halloween, and half term for schools saw sales rise 0.4%. Shops will be hoping to carry this through to Xmas. I was on Oxford St (even Chief Economists get some free time) yesterday and while it was pretty packed with people not many were carrying bags. Maybe it’s too early?
In US news the index of economic leading indicators continued to rise. This is the seventh month in a row which has seen the index showing better prospects for the near term future in the US although the prospects of a swift, v-shaped recovery are looking less and less likely.
Newsflow is fairly quiet today and we believe GBP will continue to weaken over the course of the day.
Latest Exchange Rates At Time Of Writing
| Indicative Rates | Sell | Buy |
| GBP/EUR | 1.1134 | 1.1163 |
| GBP/USD | 1.6611 | 1.6635 |
| EUR/USD | 1.4901 | 1.4922 |
| GBP/JPY | 147.5 | 147.83 |
| GBP/AUD | 1.8056 | 1.8106 |
| GBP/NZD | 2.2744 | 2.2756 |
| GBP/CAD | 1.7645 | 1.772 |
| NZD/USD | 0.7272 | 0.7312 |
| GBP/ZAR | 12.46 | 12.51 |
| USD/ZAR | 7.49 | 7.453 |
| GBP/PLN | 4.5916 | 4.6216 |
| EUR/JPY | 132.3 | 132.58 |
Published on Fri, Nov 20 2009, 10:59 GMT
Archive
- Pound Idles Lower
Published On Fri, Nov 20 2009, 10:59 GMT - BOE Minutes see the pound weaken
Published On Thu, Nov 19 2009, 09:26 GMT - Pound Gets Inflation Boost Before BOE Minutes
Published On Wed, Nov 18 2009, 10:09 GMT - Dollar Index slides to 15 month lows
Published On Tue, Nov 17 2009, 08:33 GMT - European Recession Is Over
Published On Mon, Nov 16 2009, 10:29 GMT
World First UK Ltd
| Regent House, 16-18 Lombard Road, London, SW11 3RB
http://www.worldfirst.com/ | enquiries@worldfirst.com
Legal disclaimer and risk disclosure
Disclaimer: The comments put forward by World First are only our views and should not be construed as advice. You should act using your own information and judgement. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Any rates given are “interbank” ie for amounts of £5million and thus are not indicative of rates offered by World First for smaller amounts.Related reports
Weekly Focus - Squaring positions by Danske Bank A/S
Fri, Nov 20 2009, 16:45 GMT
Intraday Forex Technical Report - U.S. Update: More dollar corrections by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 16:15 GMT
Weekly Market Commentary - The trend to lower interest rates continues by Mizuho Corporate Bank
Fri, Nov 20 2009, 15:48 GMT
Daily Market Report - There are indications that the market is reducing its exposure to risk by Wells Fargo Investments, LLC
Fri, Nov 20 2009, 15:19 GMT
Fundamental Currencies Comments - Dollar climbs vs. majors by ecPulse.com
Fri, Nov 20 2009, 15:15 GMT
eurusd, eurjpy, highlighted, gbpusd, gbpjpy
View AllRelated content
Wall Street ends Friday in negative; Dollar with gains
FXstreet.com | Fri, Nov 20 2009, 22:14 GMT
Peru's Main Stock Indexes End Mixed; Sol Weakens Slightly
Dow Jones | Fri, Nov 20 2009, 21:36 GMT
Forex: EUR/USD ends week with moderate losses
FXstreet.com | Fri, Nov 20 2009, 21:27 GMT
Canada Afternoon: C$ Ends Lower Amid Subdued Risk Sentiment
Dow Jones | Fri, Nov 20 2009, 21:12 GMT
ForexLive New York wrap-up: EUR/USD bounces after 1.4800 attack
Forex Live | Fri, Nov 20 2009, 20:58 GMT
eurusd, eurjpy, highlighted, gbpusd, gbpjpy
View All
Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.