Newsletter – 13th September 2018

Morning Bulletin

Yesterday

  • GBP/EUR opened at 1.1218 and traded a high of 1.1250, a low of 1.1190 and closed at 1.1217.
  • GBP/USD opened at 1.3030 before trading a high of 1.3080, a low of 1.2979 and closing at 1.3043.
  • US PPI m/m came in weaker than expected at -0.1% vs 0.2% and core PPI m/m also missed expectations coming in at -0.1% vs 0.2% expected.
  • Crude oil inventories came in at -5.3M vs -1.3M.
  • Former UK Prime Minister Gordon Brown has warned that the world is ‘sleep walking into another [financial] crisis’ and claims that there are no world leaders capable of taking action.
Overnight
  • Australian employment change came in better than expected at 44.0 K vs 16.5K and unemployment rate came in as expected at 5.3%.
  • GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.8148, 1.9901 and 145.44, respectively.
Today
  • At midday we will hear from the Bank of England – the rate is expected to remain unchanged at 0.75% with all 9 votes from the MPC expected to unanimously back that decision.
  • The European refinancing rate will be announced at 12:45 and that is also expected to remain unchanged. The accompanying ECB press conference will begin at 1.30pm.
  • Core CPI m/m and core CPI m/m from the US will be released at 1.30pm.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1236 +0.17
GBP/USD 1.3048 +0.04
EUR/USD 1.1610 -0.13
AUD/USD 0.7185 +0.21
Time (GMT) Region Data Release Forecast Previous
12:00 GBP MPC Official Bank Votes 0-0-9 0-0-9
12:00 GBP Monetary Policy Summary
12:00 GBP Official Bank Rate 0.75% 0.75%
12:45 EUR Refinancing Rate 0.00% 0.00%
13:30 EUR ECB Press Conference
13:30 USD CPI m/m 0.3% 0.2%
13:30 USD Core CPI m/m 0.2% 0.2%