Forex Weekly Round Up 7/12/15 – 11/12/15

The Euro had a quiet start to the week; in stark contrast to the rally it had last week after Mario Draghi’s announcement about his soft extension to quantitive easing (QE), which saw one of the largest Euro advances against the USD in 5 years.

The macroeconomic calendar was light, with Germany releasing its Industrial Production data for October, up by 0.2% compared to a month before, but flat on the year.

UK manufacturing disappointed markets with a reported -0.4% decrease in November from a forecasted -0.1%. Also, industrial output rose 0.1% as expected but year/year it rose 1.7%, which was above expectations.

The UK was expected to report no change in month on month industrial output and manufacturing production. The manufacturing sector is not the strongest in the UK, as seen by consistently low PMIs.

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Here are the exchange rates taken at 12:44 today. Please note that all conversions are based on interbank rates without any spreads and should be used only as a guide. For live ‘spot’ and ‘forward’ prices please feel free to drop us a line.

GBP/USD 1.5159
GBP/EUR 1.3823
USD/EUR 0.9119

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