Newsletter – 13th August 2019

Morning Bulletin

Yesterday

  • GBP/EUR rallied by 0.18% yesterday after opening at 1.0752, trading a high of 1.0810, a low of 1.0725 and closing at 1.0772.
  • GBP/USD also rallied yesterday but by 0.43% after opening at 1.2047, trading a high of 1.2106, a low of 1.2014 and closing at 1.2074.
  • President Trump’s National Security Adviser John Bolton said that the US supported a no-deal Brexit and added that the UK is first in line for a trade deal with the US. His comments came after meeting Boris Johnson at No 10. (BBC)
  • The USA government’s deficit widened to $120 billion in July due to increases in spending on health care and the military.
  • Advocates of President Trump’s new rule – which would reject temporary or permanent visas for people who fail to reach high enough income standards – say it will reduce legal immigration by half.
Overnight
  • Australian NAB business confidence data came in at 4 after posting 2 previously.
  • GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.7832 (-0.29%), 1.8706 (-0.08%) and 127.03 (-0.09%), respectively.
Today
  • A legal challenge designed to prevent Boris Johnson shutting down parliament to force through a no-deal Brexit is to get under way later today. The move back by 70 MPS and peers will aim to get the Court of Session in Edinburgh to rule that suspending parliament to make the UK leave the EU without a deal is ‘unlawful and unconstitutional’. (BBC)
  • PM Boris Johnson has pledged an extra £100m to improve prison security and cut crime in England and Wales.
  • The UK average earnings index 3m/y came in at 3.7% as expected.
  • At 10pm German ZEW economic sentiment is due before US inflation data at 1.30pm.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.0784 +0.11
GBP/USD 1.2070 -0.04
EUR/USD 1.1192 -0.18
AUD/USD 0.6766 +0.25

 

Time (GMT) Region Data Release Forecast Previous
10:00 EUR German ZEW economic sentiment -27.8 -24.5
13:30 USD CPI m/m 0.3% 0.1%
13:30 USD Core CPI m/m 0.2% 0.35