Daily Market Brief – 9 November 2015

Pound Euro Touching 1.40

Quote of the day: “One finds limits by pushing them.”

November 9th: Highlights

  • GBP/EUR bounced back from Super Thursday
  • Pound Euro close to 1.40 levels
  • UK manufacturing bounces back
  • Strong jobs data boosts US Dollar
  • EUR/USD falls to 7 month lows

Sterling Comment

On Friday, GBP/EUR recovered from Super Thursday following positive manufacturing production data, with output rising by 0.8% in September according to official numbers, the biggest monthly increase for two years.

Sterling Euro closed 0.4% higher 1.4023 with the single currency remaining firmly on the back foot following strong US Jobs data released. GBP/EUR is currently trading above 1.4000.

If you are buying and selling Euros, log in to compare live quotes today.

GBP/USD hit highs of 1.5178 after the strong manufacturing data was released, trading up from 1.5163. The pair sank throughout the afternoon largely due to the US jobs release, falling to a day low of 1.5029. GBP/USD is currently slightly up at 1.5084.

This week, British Pound exchange rates are unlikely to have significant fluctuations as a result of high tier economic data releases. The only reading of note will be the release on Wednesday of the average earnings and unemployment figures.

If you are buying and selling US Dollars, log in to compare live quotes today.

Global Highlights

The Euro fell to it’s lowest levels in over 7 months against the US Dollar. However, this morning the pair did manage to climb close to 0.3% to 1.0768, picking up from Friday’s seven months trough of 1.0701. With increased expectation that the ECB could enlarge it’s stimulus program before the year’s up, gains in the Euro were in check. EUR/USD is currently moving around 1.0771.

Unemployment rates in the US fell to a seven and a half year low at 5.0%, this robust jobs report has been helping the US Dollar strengthen against its major rivals

Canada added net just over 44,000 new jobs last month with unemployment dropping to 7%. This data came in above expectations. GBP/CAD is trading at 2.0028

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Paul Plewman
Director of Sales & Operations
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