Any views and commentary in this communication (together, "Views") are general, short-term views of the JN-FX Trading and/or Distribution desks (the "Authors") and is not research produced by the JN-FX Research Department. The Views are given as the date hereof for information purposes only, are subject to change without notice and are not binding. The Views are not objective or independent of the interests of the Authors or other JN-FX Trading and/or Distribution desks, who are active participants in the markets, investments or strategies referred to herein. Good morning, in today's report: Queen's speech launches Conservative push to legislate on EU, taxes and devolution News reports suggest progress is being made between Greece and its creditors Bank of Canada keeps rates on hold as expected Market News: The Queen's speech yesterday set out the UK government's legislative program for the coming year o The contents will be discussed in parliament during the next five or so days and then voted on by the Commons. With 331 seats, the Conservatives will rely on a (thin) majority of eight seats to pass the bill o The measures discussed were nothing new but provided clarification on the government's priorities over the next 12 months. The speech highlighted fiscal consolidation, EU negotiations and Scottish devolution, as being high priority areas Overnight, European equities were boosted by news reports suggesting progress towards an agreement between Greece and its creditors o This has helped the EUR strengthen overnight with EURUSD climbing back above 1.0900 from lows of 1.0819 yesterday and GBPEUR has pulled back below the 1.4100 level o Discussions on the Greek bailout program will continue to gain focus as the 5 June deadline for payments to the IMF approaches. A Euro Working Group (EWG) teleconference is expected to take place today. Government sources said they expected a deal over the weekend so an emergency Eurogroup can be held next Tuesday The Bank of Canada maintained the benchmark rate at 0.75% yesterday as widely expected In Australia, the capex survey showed an unexpected downgrade to the non-mining outlook o This has lead to considerable weakness in AUD, AUDUSD lost over 1% from the day's high in reaction to the data, settling around 0.7680 USDJPY rises back above 124.14, the yen's weakest level since 2002 on the back of yesterday's broad based USD rally What to Watch for Today: Today at 09.30 we get UK GDP 2nd release (JN-FX Forecast: 2.5%y/y. Consensus: 2.5%y/y). Then at 10.00 euro area industrial confidence (Consensus: -3.0) and final consumer confidence (Consensus: -5.5) is released. Overnight we watch for Japanese CPI data (JN-FX's Forecast: 0.7%y/y. Consensus: 0.6%y/y) For enquiries, please call your regular contact or phone us on 0207 496 3350 Data: FX RATES GBPUSD = 1.5356 GBPEUR = 1.4061 EURUSD = 1.0923 GBPAUD = 1.9988 EURGBP = 0.7112 GBPUSD GBPEUR Forex Mid Market Rates Majors Forex Mid Market Rates Exotics USD GBP USD GBP USD N/A 1.5356 CNY 6.1990 9.5189 EUR 1.0923 1.4061 HKD 7.7533 11.9056 JPY 123.72 190.00 IDR 13217 20295 CHF 0.9466 1.4536 INR 63.87 98.07 SEK 8.4930 13.0380 MYR 3.6405 5.5902 DKK 6.8278 10.4860 SGD 1.3485 2.0707 NOK 7.7638 11.9231 THB 33.75 51.83 AUD 0.7683 1.9988 TRY 2.6568 4.0796 CAD 1.2461 1.9138 ZAR 12.0483 18.5008 Central Bank and LIBOR Rates Other Indices GBP USD EUR Last Change % Change Base 0.50 0.25 0.05 FTSE 100 7015.94 66.95 0.96 1 month 0.51 0.19 -0.07 Spot Gold ($) 1189 0.4 0.03 3 months 0.57 0.28 -0.01 WTI Crude ($) 57.46 0.22 0.38 6 months 0.71 0.42 0.05 12 months 1.00 0.75 0.17 Forecasts Spot Q3 2015 Q4 2015 Q1 2016 GBPUSD 1.5356 1.43 1.42 1.40 GBPEUR 1.4061 1.43 1.45 1.47 EURGBP 0.7112 0.70 0.69 0.68 EURUSD 1.0923 1.00 0.98 0.95 The Views are not a personal recommendation or any type of advice, including as to product suitability, to any investor and independent professional advice should be obtained before investing or transacting. JN-FX is not liable for information stated to be obtained or derived from third party sources and does not represent or warrant any third party information is accurate and complete. JN-FX will not be liable for any use made of information in this communication. Past performance (including back-testing) is not indicative of future performance and JN-FX makes no representation as to the accuracy, completeness or reasonableness of performance data, modelling or scenario analysis. Any pricing is indicative. JN-FX is not offering to sell or seeking offers to buy any Product. No part of this document may be reproduced, distributed or transmitted without JN-FX' prior written permission. JN-FX Ltd is authorised and regulated by the Financial Conduct Authority. JN-FX Ltd. Registered in England 06365196 Registered office 41 New Broad Street London EC2M 1JD.
Any views and commentary in this communication (together, "Views") are general, short-term views of the JN-FX Trading and/or Distribution desks (the "Authors") and is not research produced by the JN-FX Research Department. The Views are given as the date hereof for information purposes only, are subject to change without notice and are not binding. The Views are not objective or independent of the interests of the Authors or other JN-FX Trading and/or Distribution desks, who are active participants in the markets, investments or strategies referred to herein. Good morning, in today's report: GBP fell for a fifth consecutive day after final Q1 GDP numbers confirmed slowing consumption The USD is pausing after a strong five-day rally Japan's nationwide CPI rose 0.3% y/y in April, slightly higher than expected Market News: The second estimate of Q1 GDP was unrevised in the UK at 0.3% q/q, confirming slowing consumption o Following the release, our economists have lowered their forecast for Q1 growth but maintain an annual growth forecast of 2.2% for 2015 o JN-FX's research believe that our more cautious stance post election has been justified. Hard data in recent months have been broadly disappointing and we remain of the view that headwinds stemming from fiscal austerity and the EU referendum will continue to weigh on the economy o GBP fell for a fifth consecutive day, with GBPUSD dipping below 1.5300 The USD is pausing after a strong five-day rally, ignited by the US inflation surprise and Yellen's speech last Friday, possibly on profit-taking o Yesterday, US pending home sales posted a solid 3.4% advance in April, supporting our expectation of a rebound in residential investment in Q2 Nationwide core CPI rose 0.3% y/y in April, slightly higher than consensus expectations of 0.2% o USDJPY has pulled back to 123.70 after reaching a new 12-year high above 124.40 What to Watch for Today: Today at 09.00 we get euro area M3 (JN-FX's Forecast: 4.9%y/y. Consensus: 4.9%y/y) and euro area loans to private sector. Then at 13.30 we get US real GDP 2nd release (JN-FX's Forecast: -1.1 q/q saar. Consensus: -0.9% q/q saar) For enquiries, please call your regular contact or phone us on 0207 496 3350 Data: FX RATES GBPUSD = 1.5309 GBPEUR = 1.3987 EURUSD = 1.0949 GBPAUD = 1.9989 EURGBP = 0.7149 GBPUSD GBPEUR Forex Mid Market Rates Majors Forex Mid Market Rates Exotics USD GBP USD GBP USD N/A 1.5309 CNY 6.1991 9.4902 EUR 1.0949 1.3987 HKD 7.7524 11.8682 JPY 123.75 189.52 IDR 13223 20242 CHF 0.9451 1.4470 INR 63.74 97.57 SEK 8.4761 12.9771 MYR 3.6610 5.6046 DKK 6.8148 10.4331 SGD 1.3487 2.0647 NOK 7.8267 11.9818 THB 33.71 51.61 AUD 0.7661 1.9989 TRY 2.6646 4.0792 CAD 1.2439 1.9045 ZAR 12.1680 18.6280 Central Bank and LIBOR Rates Other Indices GBP USD EUR Last Change % Change Base 0.50 0.25 0.05 FTSE 100 7047.25 31.31 0.45 1 month 0.51 0.18 -0.07 Spot Gold ($) 1190 1 0.08 3 months 0.57 0.28 -0.01 WTI Crude ($) 57.64 0.18 0.31 6 months 0.71 0.42 0.05 12 months 1.00 0.75 0.17 Forecasts Spot Q3 2015 Q4 2015 Q1 2016 GBPUSD 1.5309 1.43 1.42 1.40 GBPEUR 1.3987 1.43 1.45 1.47 EURGBP 0.7149 0.70 0.69 0.68 EURUSD 1.0949 1.00 0.98 0.95 The Views are not a personal recommendation or any type of advice, including as to product suitability, to any investor and independent professional advice should be obtained before investing or transacting. JN-FX is not liable for information stated to be obtained or derived from third party sources and does not represent or warrant any third party information is accurate and complete. JN-FX will not be liable for any use made of information in this communication. Past performance (including back-testing) is not indicative of future performance and JN-FX makes no representation as to the accuracy, completeness or reasonableness of performance data, modelling or scenario analysis. Any pricing is indicative. JN-FX is not offering to sell or seeking offers to buy any Product. No part of this document may be reproduced, distributed or transmitted without JN-FX' prior written permission. JN-FX Ltd is authorised and regulated by the Financial Conduct Authority. JN-FX Ltd. Registered in England 06365196 Registered office 41 New Broad Street London EC2M 1JD.
Good morning, in today's report: RBA on hold, whilst RBI cuts rates ISM manufacturing index bounces in May, supporting the USD Euro area final manufacturing PMIs show further strength in the periphery, whilst concerns about Greece remain Market News: After cutting the cash rate in May to a new record low of 2%, the RBA held steady in June, while retaining a mild easing bias o The RBA left the cash rate unchanged at 2%, while retaining a mild easing bias. The market reaction to the decision suggests to us that many investors were disappointed that the bias was not more explicit, with a rally in AUD and selloff in rates o Meanwhile, the RBI delivered a 25bp cut to 7.25%, as expected. The guidance points to the RBI waiting for further clarity on monsoons before resuming an easing cycle In the US, the ISM manufacturing bounced to 52.8 on solid production and new orders. As a result, the USD rose against all major currencies except the BRL, while Treasuries fell and equities bounced o Personal spending remained soft in April and was flat against expectations for a 0.2% increase, while personal income rose a robust 0.4% Euro area final manufacturing PMIs were slightly revised down from the flash estimate at 52.2, matching March's 10 month high. Yesterday's data signalled that manufacturing activity recovery remains on track, although divergence persists between countries o 10y euro area peripheral spreads touched 2015 highs yesterday as concerns about Greece mounted. It appears likely that IMF payment on 5 June will be made, with the key focus in the coming weeks being the Euro group meeting on 18 June and the current programme end date at the end of the month What to Watch for Today This morning at 08:55 we have the German unemployment rate (JN-FX's Forecast: 6.4%. Consensus: 6.4%) followed by UK construction PMI (Consensus: 55.0) at 09:30. At 10:00 we watch for euro area PPI (Consensus: 0.1% m/m) and flash HICP (JN-FX's Forecast: 0.2% y/y. Consensus: 0.2% y/y) q/q saar. Consensus: -0.9% q/q saar) For enquiries, please call your regular contact or phone us on 0207 496 3350 Data: FX RATES GBPUSD = 1.5211 GBPEUR = 1.3860 EURUSD = 1.0975 GBPAUD = 1.9739 EURGBP = 0.7215 GBPUSD GBPEUR Forex Mid Market Rates Majors Forex Mid Market Rates Exotics USD GBP USD GBP USD N/A 1.5211 CNY 6.1983 9.4280 EUR 1.0975 1.3860 HKD 7.7557 11.7968 JPY 124.52 189.42 IDR 13223 20112 CHF 0.9423 1.4332 INR 63.77 97.00 SEK 8.5498 13.0050 MYR 3.6895 5.6119 DKK 6.7966 10.3370 SGD 1.3547 2.0606 NOK 7.9061 12.0269 THB 33.78 51.38 AUD 0.7705 1.9739 TRY 2.6752 4.0691 CAD 1.2499 1.9008 ZAR 12.2404 18.6182 Central Bank and LIBOR Rates Other Indices GBP USD EUR Last Change % Change Base 0.50 0.25 0.05 FTSE 100 6955.63 -51.67 -0.74 1 month 0.51 0.18 -0.07 Spot Gold ($) 1187.63 1.12 0.09 3 months 0.57 0.28 -0.01 WTI Crude ($) 60.19 -0.01 -0.02 6 months 0.71 0.42 0.06 12 months 1.00 0.75 0.17 Forecasts Spot Q3 2015 Q4 2015 Q1 2016 GBPUSD 1.5211 1.43 1.42 1.40 GBPEUR 1.3860 1.43 1.45 1.47 EURGBP 0.7215 0.70 0.69 0.68 EURUSD 1.0975 1.00 0.98 0.95 . The Views are not a personal recommendation or any type of advice, including as to product suitability, to any investor and independent professional advice should be obtained before investing or transacting. JN-FX is not liable for information stated to be obtained or derived from third party sources and does not represent or warrant any third party information is accurate and complete. JN-FX will not be liable for any use made of information in this communication. Past performance (including back-testing) is not indicative of future performance and JN-FX makes no representation as to the accuracy, completeness or reasonableness of performance data, modelling or scenario analysis. Any pricing is indicative. JN-FX is not offering to sell or seeking offers to buy any Product. No part of this document may be reproduced, distributed or transmitted without JN-FX' prior written permission. JN-FX Ltd is authorised and regulated by the Financial Conduct Authority. JN-FX Ltd. Registered in England 06365196 Registered office 41 New Broad Street London EC2M 1JD.
Any views and commentary in this communication (together, "Views") are general, short-term views of the JN-FX Trading and/or Distribution desks (the "Authors") and is not research produced by the JN-FX Research Department. The Views are given as the date hereof for information purposes only, are subject to change without notice and are not binding. The Views are not objective or independent of the interests of the Authors or other JN-FX Trading and/or Distribution desks, who are active participants in the markets, investments or strategies referred to herein. Good morning, in today's report: EUR strengthened yesterday on positive euro area inflation data and news of progress on Greece ECB's monetary policy meeting will be in focus today, with Greece likely to be in the spotlight during the Q&A Australia's Q1 GDP beat expectations, helping AUD to strengthen Market News The euro strengthened across the board yesterday after euro area inflation surprised to the upside and progress looked to be made on Greece negotiations o Euro-area consumer prices rose for the first time in six months in May, reducing further risk of deflation in the euro area. Headline CPI inflation came in at 0.3% from 0.0% in April (0.2% cf) while core inflation accelerated to 0.9%, the fastest in nine months o A positive article in the Wall Street journal ignited fresh hopes for Greece. The article reported that officials representing European institutions and the International Monetary Fund met yesterday to complete the draft of an agreement to unlock bailout aid for Greece o EURUSD spiked to highs of 1.1192 yesterday afternoon and held around the 1.1150 level overnight AUD strengthened further post the better-than-estimated Q1 GDP data o GDP rose by 0.9% in Q1 versus consensus expectations of 0.7% o This followed a 2.2% rally against the USD yesterday on the less dovish statement from the RBA China's HSBC composite PMI moved a tick lower coming in at 51.2 compared to 51.3 in April What to Watch for Today This morning at 09.30 we watch for UK Services PMI (JN-FX's Forecast: 59.0. Consensus: 59.1). At 10.00 we get euro area unemployment rate (JN-FX's Forecast: 11.3%. Consensus: 11.2%) and euro area retail sales (Consensus: 1.9% y/y). At 12.45 attention will be on the ECB interest rate announcement (JN-FX's forecast: unchanged. Consensus: unchanged) and the subsequent press conference at 13.30. At 13.30 we get US trade balance (JN-FX's Forecast: $-42.5bn. Consensus: $-44.2bn). At 15.00 US ISM non-manufacturing index is released (JN-FX's Forecast: 57.0. Consensus: 56.6) For enquiries, please call your regular contact or phone us on 0207 496 3350 Data: FX RATES GBPUSD = 1.5348 GBPEUR = 1.3786 EURUSD = 1.1133 GBPAUD = 1.9698 EURGBP = 0.7254 GBPUSD GBPEUR Forex Mid Market Rates Majors Mid Market Rates Exotics USD GBP USD GBP USD N/A 1.5348 CNY 6.1975 9.5120 EUR 1.1133 1.3786 HKD 7.7539 11.9007 JPY 124.14 190.51 IDR 13213 20279 CHF 0.9352 1.4353 INR 63.95 98.14 SEK 8.4140 12.9132 MYR 3.6790 5.6466 DKK 6.7003 10.2825 SGD 1.3462 2.0661 NOK 7.8209 12.0030 THB 33.66 51.66 AUD 0.7791 1.9698 TRY 2.6837 4.1190 CAD 1.2414 1.9051 ZAR 12.2415 18.7883 Central Bank and LIBOR Rates Other Indices GBP USD EUR Last Change % Change Base 0.50 0.25 0.05 FTSE 100 6912.8 -42.83 -0.74 1 month 0.51 0.18 -0.07 Spot Gold ($) 1189.61 1.98 0.17 3 months 0.57 0.28 -0.01 WTI Crude ($) 61.25 1.06 1.73 6 months 0.71 0.42 0.06 12 months 1.00 0.75 0.17 Forecasts Spot Q3 2015 Q4 2015 Q1 2016 GBPUSD 1.5348 1.43 1.42 1.40 GBPEUR 1.3786 1.43 1.45 1.47 EURGBP 0.7254 0.70 0.69 0.68 EURUSD 1.1133 1.00 0.98 0.95 The Views are not a personal recommendation or any type of advice, including as to product suitability, to any investor and independent professional advice should be obtained before investing or transacting. JN-FX is not liable for information stated to be obtained or derived from third party sources and does not represent or warrant any third party information is accurate and complete. JN-FX will not be liable for any use made of information in this communication. Past performance (including back-testing) is not indicative of future performance and JN-FX makes no representation as to the accuracy, completeness or reasonableness of performance data, modelling or scenario analysis. Any pricing is indicative. JN-FX is not offering to sell or seeking offers to buy any Product. No part of this document may be reproduced, distributed or transmitted without JN-FX' prior written permission. JN-FX Ltd is authorised and regulated by the Financial Conduct Authority. JN-FX Ltd. Registered in England 06365196 Registered office 41 New Broad Street London EC2M 1JD.
I have to agree on the Greek thing. They aren't stupid, they know that there's not going to be any social benefits to argue over if they don't make a deal, they're playing their game theory part just like a good brinksman should, they really have no reason to want to default but plenty of reason to make it look like they would be willing to. It's poker and the Europeans should call their bluff. For my extremely selfish and short sighed reasons I'd be happy if they refused a deal and went off the deep end, not a world I'd want to live in though and it's boy going to happen.
If Greek politicians knew they were going to default, they would never admit to it prior to the deadline. There would always be hope of a deal right up until the minute of the deadline. Mind you they would position themselves accordingly well beforehand.
True that, I'm sure more than a few intelligence agencies are watching the financials of the fiends and family members of the current government looking for big euro / dollar conversions and PM buying. Obviously watching what the central bank is doing as well. The fact that they are acting deliberately ambiguously is the clue that they are going to make a deal. Having said that, they could easily end up unintentionally not getting a deal if they find they've run out of runway with Berlin earlier than expected. I suppose the real question is whether they get a long term deal or whether we're back here next time they have a major payment to make.
Good morning, in today's report: US FOMC minutes were more dovish than expected, raising uncertainty over September rate hike US July CPI inflation rose for the fifth consecutive month yet disappointed consensus expectations Euro area finance ministers approve Greece Bailout Market News The USD continues to fall against the EUR following the release of the July FOMC minutes o The minutes of the FOMC meeting revealed that members need more evidence that inflation is moving toward goal and the labour market improvement is sufficient and sustainable o Barclays Research retain their call for September lift-off. However, we see the bar for the rate hike as having been pushed a bit higher, increasing risks of a later take-off US headline CPI increased by 0.1% m/m, just below consensus expectations of 0.2% m/m. Core CPI also rose by less than expected o There were modest gains in services prices but this was largely offset by a fall in goods prices Euro area finance ministers approved a third bailout programme for Greece of EUR86bn, after the parliaments in Germany and the Netherlands signed off on the plan yesterday o The programme clears the way for an ECB re-payment using ESM funds, as well as other creditors What to Watch for Today Today at 09.30 we get UK retail sales (JN-FX Forecast: 4.5%y/y. Consensus: 4.4%y/y). This afternoon at 15.00 we watch for US existing home sales (JN-FX Forecast: 5.48mn saar. Consensus: 5.42mn saar) For enquiries, please call your regular contact or phone us on 0207 496 3350 Data: FX RATES GBPUSD = 1.5617 GBPEUR = 1.4018 EURUSD = 1.1140 GBPAUD = 2.1425 EURGBP = 0.7134 GBPUSD GBPEUR Forex Mid Market Rates Majors Forex Mid Market Rates Exotics USD GBP USD GBP USD N/A 1.5617 CNY 6.3890 9.9777 EUR 1.1140 1.4018 HKD 7.7520 12.1062 JPY 123.88 193.46 IDR 13870 21661 CHF 0.9630 1.5032 INR 65.42 102.17 SEK 8.5018 13.2770 MYR 4.1375 6.4616 DKK 6.6987 10.4609 SGD 1.4055 2.1950 NOK 8.2969 12.9573 THB 35.63 55.64 AUD 0.7289 2.1425 TRY 2.9830 4.6586 CAD 1.3166 2.0561 ZAR 12.9920 20.2896 Central Bank and LIBOR Rates Other Indices GBP USD EUR Last Change % Change Base 0.50 0.25 0.05 FTSE 100 6369.2 -50.69 -0.77 1 month 0.51 0.20 -0.10 Spot Gold ($) 1137.6 4.99 0.45 3 months 0.59 0.33 -0.03 WTI Crude ($) 40.7 0.65 1.55 6 months 0.75 0.53 0.05 12 months 1.06 0.85 0.16 Forecasts Spot Q3 2015 Q4 2015 Q1 2016 GBPUSD 1.5617 1.53 1.45 1.44 GBPEUR 1.4018 1.43 1.45 1.47 EURGBP 0.7134 0.70 0.69 0.68 EURUSD 1.1140 1.07 1.00 0.98 The Views are not a personal recommendation or any type of advice, including as to product suitability, to any investor and independent professional advice should be obtained before investing or transacting. JN-FX is not liable for information stated to be obtained or derived from third party sources and does not represent or warrant any third party information is accurate and complete. JN-FX will not be liable for any use made of information in this communication. Past performance (including back-testing) is not indicative of future performance and JN-FX makes no representation as to the accuracy, completeness or reasonableness of performance data, modelling or scenario analysis. Any pricing is indicative. JN-FX is not offering to sell or seeking offers to buy any Product. No part of this document may be reproduced, distributed or transmitted without JN-FX' prior written permission. JN-FX Ltd is authorised and regulated by the Financial Conduct Authority. JN-FX Ltd. Registered in England 06365196 Registered office 41 New Broad Street London EC2M 1JD.
Good morning, in today's report: Selloffs in equity markets continued in Asia overnight, whilst JPY and EUR strengthen against USD amid broad based risk aversion European PMIs showed resilience on Friday Oil prices remain under considerable pressure, with Brent dipping below USD 45/bbl Market News US equities sold off heavily on Friday on a new wave of risk aversion and disinflation fears and Asian equities are heavily under pressure this morning o In light of the equity rout, China's State Council issued new rules to allow pension funds to invest up to 30% of their funds into equitytype assets. However, Chinese markets have shrugged off government stabilization measures, with the SHCOMP and SZCOMP tumbling by c8.5% and c7.6%, respectively o The JPY and EUR advanced c.0.8% and 0.6% against the USD, respectively on investor demand for safe haven assets After a weak start to Q3, August European PMIs showed remarkable resilience, especially Germany's manufacturing index, despite slowing Chinese activity o France's PMIs continue to suggest decent momentum despite weakening slightly JN-FX Research believe that global market developments since the release of the July FOMC minutes suggest that the probability of a later lift-off has risen and we look to Fed Vice Chair Fischer's Jackson Hole speech on Saturday to shed light on how much the current inflation backdrop is weighing on the Fed's decision to begin the normalization process Oil prices remain under considerable pressure. Brent slid below $45/bbl for the first time since March 2009 as Iran pledged to boost production "at any cost" to defend market share o Our economists believe it is imperative for Saudi Arabia to maximize revenue given external and fiscal challenges, and do not expect Saudi output to fall much below 10mb/d in 2015 and 2016 Our commodities team also remain bearish given the structural negatives of a slowing China, oversupply and a strong dollar What to Watch for Today and the Week Ahead This evening at 20.55 US Atlanta Fed President Lockhart speaks in California On Tuesday morning we get Germany IFO business climate data and in the afternoon we watch for US new home sales. On Thursday morning attention turns to euro area M3 and loans to private sector and in the afternoon we get US GDP. Overnight on Thursday Japanese CPI data is released. On Friday morning we get Germany and Spain CPI data, UK GDP data and euro area industrial confidence and final consumer confidence. On Friday afternoon we watch for US personal income, personal spending and PCE data. On Saturday focus will be on Vice Chairman Stanley Fischer's speech at the Jackson Hole Economic Symposium For enquiries, please call your regular contact or phone us on 0207 496 3350 Data: FX RATES GBPUSD = 1.5672 GBPEUR = 1.3633 EURUSD = 1.1496 GBPAUD = 2.1544 EURGBP = 0.7335 GBPUSD GBPEUR Forex Mid Market Rates Majors Forex Mid Market Rates Exotics USD GBP USD GBP USD N/A 1.5672 CNY 6.3955 10.0224 EUR 1.1494 1.3633 HKD 7.7534 12.1504 JPY 120.29 188.51 IDR 14030 21985 CHF 0.9434 1.4782 INR 66.57 104.32 SEK 8.2665 12.9539 MYR 4.2375 6.6402 DKK 6.4934 10.1745 SGD 1.4105 2.2103 NOK 8.1502 12.7711 THB 35.76 56.03 AUD 0.7273 2.1547 TRY 2.9484 4.6202 CAD 1.3219 2.0714 ZAR 13.2140 20.7064 Central Bank and LIBOR Rates Other Indices GBP USD EUR Last Change % Change Base 0.50 0.25 0.05 FTSE 100 6038.81 -329.08 -5.44 1 month 0.51 0.20 -0.11 Spot Gold ($) 1158.9 5.04 0.43 3 months 0.58 0.33 -0.03 WTI Crude ($) 40.4 -0.55 -1.36 6 months 0.75 0.53 0.05 12 months 1.06 0.85 0.16 Forecasts Spot Q4 2015 Q1 2016 Q2 2016 GBPUSD 1.5670 1.44 1.43 1.41 GBPEUR 1.3634 1.47 1.49 1.52 EURGBP 0.7335 0.68 0.67 0.66 EURUSD 1.1494 0.98 0.96 0.93 The Views are not a personal recommendation or any type of advice, including as to product suitability, to any investor and independent professional advice should be obtained before investing or transacting. JN-FX is not liable for information stated to be obtained or derived from third party sources and does not represent or warrant any third party information is accurate and complete. JN-FX will not be liable for any use made of information in this communication. Past performance (including back-testing) is not indicative of future performance and JN-FX makes no representation as to the accuracy, completeness or reasonableness of performance data, modelling or scenario analysis. Any pricing is indicative. JN-FX is not offering to sell or seeking offers to buy any Product. No part of this document may be reproduced, distributed or transmitted without JN-FX' prior written permission. JN-FX Ltd is authorised and regulated by the Financial Conduct Authority. JN-FX Ltd. Registered in England 06365196 Registered office 41 New Broad Street London EC2M 1JD.
