- There was a raft of UK data released yesterday morning, and despite the fact it was largely disappointing it didn’t have much of an impact on the Pound:
- GDP m/m 0.0% (0.1% Exp)
- Manufacturing Production m/m -0.2% (0.1% Exp)
- Goods Trade Balance -11.2Bn (-10.9Bn Exp)
- Industrial Production m/m 0.2% (0.1% Exp)
- Despite stalling a fraction in the immediate aftermath of these figures the Pound enjoyed yet another positive day in FX space making gains across the board as a deal between the EU and UK on the withdrawal agreement appears to edge ever closer.
- GBP/EUR closed the day up +0.12% at 1.1446
- GBP/USD gained +0.52% on the day, closing at 1.3210
- Speaking yesterday afternoon EU Chief Brexit negotiator Barnier said a deal between the UK and EU could be reached by as soon as next Wednesday on the UK’s withdrawal from the bloc. He added that 80-85% of the terms had been agreed and confirmed the UK would be leaving the customs union and single market.
- US PPI m/m 0.2% as expected
- US Final Wholesale Inventories m/m 1.0% (0.8% Exp)
- World Bank President Jim Yong Kim has said he is very concerned by the current trade tensions between China and the US, stressing that if they continued to escalate their tariff threats there would clearly be a hit to global growth.
- Japan PPI y/y 3.0% (2.9% Exp)
- French Final CPI m/m -0.2% as expected
- Very quiet on the data front this morning.
- This afternoon US inflation data will be in focus at 1.30pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|10.00||GBP||BOE Gov Carney Speaks|
|11.45||GBP||BOE Member Vlieghe Speaks|
|12.30||EUR||ECB Monetary Policy Minutes|