- The euro lost ground on both sterling and the US Dollar in yesterday’s trading.
- GBP/EUR opened at 1.1333 and closed marginally higher at 1.1342 and EUR/USD fell by a quarter of a percent after opening at 1.1967 and closing at 1.1936.
- Angela Merkel stated that she ‘strongly opposes’ a managed UK divorce from the EU as Germany sees ‘serious risk to integrity of EU and the single market’.
- The European Union are also warned UK industries to prepare for the UK becoming a ‘third country’ if no deal struck on the 29th March 2019.
- On a trip to Berlin, Chancellor Philip Hammond and Brexit Secretary David Davis will call for ‘most ambitious’ economic partnership and will tell German business leaders that financial services are pivotal to the Brexit trade deal.
- UK PM May has said that her reshuffle make the government look ‘more like the country it serves.The appointments yesterday were mostly junior appointments and were brandished a ‘lacklustre PR exercise’ by Labour.
- Chinese CPI y/y came in weaker than expected at 1.8% vs 1.9% and PPI y/y came in at 4.9% vs 4.8% expected.
- At 9.30am we have UK manufacturing production m/m and goods trade balance data.
- At 1.30pm we expect building permits m/m in Canada and import prices m/m from the US.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|09:30||GBP||Manufacturing Production m/m||0.3%||0.1%|
|09:30||GBP||Goods Trade Balance||-10.9B||-10.8B|
|13:30||CAD||Building Permits m/m||-0.7%||3.5%|
|13:30||USD||Import Prices m/m||0.4%||0.7%|
|22:00||NZD||Official Cash Rate||1.75%||1.75%|