Newsletter – 10th May 2019

Morning Bulletin

Yesterday

  • GBP/EUR fell by 0.19% yesterday – the market opened at 1.1618, traded a high of 1.1631, a low of 1.1566 and closed at 1.1597.
  • GBP/USD fell by 0.06% after opening at 1.3004, trading a high of 1.3035, a low of 1.2967 and closed at 1.2997.
  • Donald Trump has increased tariffs on $200bn worth of Chinese imports after US-China trade talks broke down. This has heightened tensions between the two nations and China will likely respond with import taxes on US goods.
  • Canadian trade balance came in weaker than expected at -3.2B vs -2.4B.
  • US PPI m/m came in as expected at 0.2% and core PPI m/m came in slightly weaker at 0.1% vs 0.2%.
  • Theresa May met with senior DUP members Arlene Foster and Nigel Dodds yesterday. The DUP said they wanted the result of EU referendum delivered in a way which “strengthens the union”.
Overnight
  • GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.8577, 1.9710 and 142.80, respectively.
Today
  • UK GDP m/m came in weaker than expected at -0.1% vs 0.0% expected.
  • UK manufacturing production m/m came in stronger than expected at 0.9% vs 0.1%.
  • Preliminary GDP q/q came in at 0.5%.

 

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1582 -0.13
GBP/USD 1.3005 +0.06
EUR/USD 1.1229 +0.14
AUD/USD 0.6999 +0.15

 

Time (GMT) Region Data Release Forecast Previous
13:30 CAD Employment Change 11.7K -7.2K
13:30 CAD Unemployment Rate 5.8% 5.8%
13:30 USD CPI m/m 0.4% 0.4%
13:30 USD Core CPI m/m 0.2% 0.1%