- GBP/EUR traded within its recent range yesterday opening at 1.1383, trading a high of 1.1386 and a low of 1.1331 before closing at 1.1340.
- GBP/USD opened at 1.3371 and traded a low of 1.3308 before closing at 1.3374.
- UK CPI came in at expected at 2.4% but PPI input m/m came in stronger at 2.8% vs 1.7% expected.
- US PPI m/m and core PPI m/m both came in stronger than expected at 0.5% vs 0.3% and 0.3% vs 0.2% expected.
- The Fed rate was set up a quarter point at <2.00% as expected and in the following press conference, a hawkish message was sent to the markets with suggestions that more rate hikes are coming and at a faster rate than expected.
- Australian employment change came in weaker than expected at 12.0K vs 18.8K yet the unemployment rate came in better than expected at 5.4% vs 5.5%.
- Chinese fixed asset investment ytd/y was weaker at 6.1% vs 7.0% and industrial production y/y came in roughly as expected at 6.8% vs 6.9%.
- UK retail sales m/m impressed this morning coming in at 1.3% vs 0.5% expected.
- At 12:45 we have the main refinancing rate from the Eurozone which is expected to be held at 0.00%.
- At 1.30pm we will have the EU press conference following the rate announcement alongside retail sales and unemployment data from the US.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|12:45||EUR||Main Refinancing Rate||0.00%||0.00%|
|13:30||EUR||ECB Press Conference|
|13:30||USD||Core Retail Sales m/m||0.5%||0.3%|
|13:30||USD||Retail Sales m/m||0.4%||0.3%|