- We witnessed a rather muted start to the week with very little in the way of economic data.
- Italian industrial production m/m came in better than expected at 0.1% vs -0.5% and Canadian housing starts also beat expectations coming in at 223k vs 216k.
- Sterling continued to regain some ground on the euro, in keeping with the the past fortnight’s performance.
- GBP/EUR opened at 1.0961 and pushed up throughout the day to close at 1.1013 representing a 0.47% move on the day.
- The US dollar, which had been losing value against the pound, pulled some back yesterday with GBP/USD closing down on the day albeit very marginally. Cable had opened at 1.3180 and closed down 18 points at 1.3162 however the market had traded as high as 1.3222 earlier in the day.
- EUR/USD posted its first loss since last week as it fell from 1.2015 to 1.1951.
- NAB business confidence from Australia came in at 5 after posting 12 last time out.
- GBP/AUD, GBP/NZD and GBP/JPY are trading 1.6422, 1.8076 and 144.77, respectively.
- The UK government’s bid to extra the UK from EU law in time for Brexit has passed its first parliamentary test with the EU withdrawal bill being backed by 326 votes to 290. (BBC News)
- We have inflation data from the UK to look forward to at 9.30am with the headline CPI y/y being most keenly watched.
- This afternoon we expect JOLTS job openings data from the US.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|09:30||GBP||PPI Input m/m||1.2%||0.0%|
|15:00||USD||JOLTS Job Openings||5.96M||6.16M|