- Sterling posted its fifth consecutive day of gains against the US dollar yesterday with GBP/USD modestly increasing from 1.3885 to 1.3894.
- US ADP non-farm employment change came is stronger than expected at 235K vs 199K.
- News broke that US President Donald Trump is set to sign his tariffs decree this week with Canada and Mexico excluded.
- GBP/EUR traded at its lowest value since last November having posted a low of 1.1152 on Wednesday. The market did recover to close up on the day 1.1201 representing a gain of just under a tenth of a percent.
- Canadian trade balance came in better than expected at -1.9B vs -2.5B and labour productivity came in slightly firmer at 0.2% vs 0.1%.
- Australian trade balance came in better than expected at 1.06B vs 0.21B expected.
- Chinese trade balance also came in better than expected at 225B vs -70B expected.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading at 1.7782, 1.9100 and 147.18, respectively.
- The EU rate will be announced at 12:45 today and is expected to remain at 0.00%.
- Most eyes will be on the ECB press conference at 1.30pm where the consensus is for no change in easing bias and forward guidance.
- Canadian building permits m/m and NHPI m/m figures are due to be released at 1.30pm alongside unemployment claims from the US.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|12:45||EUR||Minimum Bid Rate||0.00%||0.00%|
|13:30||CAD||Building Permits m/m||-0.3%||4.8%|
|13:30||EUR||ECB Press Conference|