Newsletter – 12th November 2018

Morning Bulletin

Friday

  • The GBP/EUR failed to post a seventh consecutive day of gains on Friday with the market closing at 1.1443 after opening at 1.1491. This represented a decrease in value of the pound against the euro of 0.42%.
  • GBP/USD fell by 0.68% on Friday eventually settling at 1.2972 after opening at 1.3062.
  • German foreign minister Mass aid he is optimistic on a Brexit deal and is confident the UK will leave with an agreement.
  • US President Trump signed a proclamation taking effect on Saturday that suspends the entry of migrants through the US Southern border between ports of entry for 90 days.
  • UK GDP m/m came in weaker than expected 0.0% vs 0.1% expected.
  • UK manufacturing production m/m came in better than expected at 0.2% vs 0.1%.
  • US PPI m/m came in at 0.6% vs 0.2% with core PPI also impressing coming in at 0.5% vs 0.2% expected.
Overnight
  • Sterling has weakened broadly with GBP/AUD, GBP/NZD and GBP/JPY trading at 1.7832, 1.9099 and 146.31.
Today
  • Sterling gapped lower against the US dollar and has come off across the board. GBP/USD opened at 1.2914 after closing at 1.2972 on Friday.
  • Very quiet on the data front today with it being Veteran’s Day in North America.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1421 -0.19
GBP/USD 1.2850 -0.94
EUR/USD 1.1249 -0.75
AUD/USD 0.7199 -0.36

 

Time (GMT) Region Data Release Forecast Previous
20:30 USD FOMC Member Daly Speaks