CurrencyTransfer Morning Update
Quote of the day: “A satisfied customer is the best business strategy of all”
September 3rd: Highlights
- Sterling recovers against Dollar
- China’s tightens forex and stock trading rules
- AUD/USD drops near 6 year lows
- Israel stocks higher
Sterling Comment
Yesterday saw GBP/USD hit a two and a half month low, although it did make a recovery throughout the afternoon session to close in a stronger position. GBP/USD is currently moving in the region of 1.5263.
We’re expecting another busy day for the Sterling Euro pair as French unemployment figures will be released, with last month’s figure coming in at a high 10.3%. At the moment, GBP/EUR exchange rates are trading around 1.3591.
China Crisis
Global Comment
EUR/USD is trading this morning at 1.1231. Overnight, the US.Dollar pushed higher against the majors yesterday, despite data released showing disappointing results from the US. The payroll processing firm (ADP) said non-farm private employment rose by 190,000 in August, coming in below expectations for an increase of 201,000.
The Australian Dollar weakened in this mornings session following disappointing retail sales. In Australia, retail sales dropped 0.1%, well below expectations of a 0.4% gain and down for the first time since May last year as food retailing showed no growth and household goods retailing fell for the first time since March. GBP/AUD is trading in the region of 2.1729.
Sterling is suffering against the Israeli Shekel, trading down from its recent highs of 6.13. Israel stocks closed higher yesterday, showing gains in the Oil, Gas, Banking and Communications sector. GBP/ILS is moving around 6.00.
Have a great day!
Morning mid-market rates – The majors
GBP > USD 
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Paul Plewman
Director of Sales & Operations
t: +44 (0) 20 7096 1036
e: paul@currencytransfer.com
