- GBP/EUR made another attempt to break through the 1.15 level yesterday but ultimately failed as the market closed at 1.1474 after trading a high of 1.1503 on the day.
- GBP/USD posted gains on Tuesday after opening at 1.4128 and closing 0.31% higher at 1.4173.
- The ECB’s Nowotny said he think now is the time for a gradual normalisation of monetary policy and suggested that the deposit rate could be lifted 20 basis points to -0.2% to start the process of rate increases.
- Later in the day an ECB spokesperson stated that Nowotny’s views are his own and do not represent the views of the Goverining Council.
- EU Brexit Minister Barnier said the UK wants an orderly exit for the EU and UK PM May has brought more clarity to the Brexit talks.
- White House trade adviser Navarro stated that the door is open for trade talks with China.
- Canadian building permits m/m came in at -2.6% vs -1.5% expected.
- From the US we saw PPI m/m and core PPI m/m both coming in at 0.3% beating respective estimates of 0.1% and 0.2%.
- Chinese CPI y/y came in at 2.1% vs 2.6% expected and PPI y/y came in at 3.1% vs 3.2% expected.
- GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.8345, 1.9306 and 151.98, respectively.
- This morning GBP/EUR is up by a tenth of a percent and GBP/USD is up by just over a quarter of a percent.
- At 9.30am we will have the latest manufacturing production m/m figure from the UK alongside the goods trade balance.
- This afternoon we will see inflation data from the US before the FOMC meeting minutes are released at 7pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|09:30||GBP||Manufacturing Production m/m||0.2%||0.1%|
|09:30||GBP||Goods Trade Balance||-12.0B||-12.3B|
|12:00||EUR||ECB Draghi speaks|
|13:30||USD||Core CPI m/m||0.2%||0.2%|
|19:00||USD||FOMC Meeting Minutes|