- Sterling spiked to its highest level against the euro since April yesterday as reports emerged that the UK and EU negotiators had agreed on the text of a draft withdrawal agreement.
- GBP/EUR traded a high of 1.1551 before pulling back late in the evening to close at 1.1485.
- GBP/USD opened at 1.2848 and traded a high of 1.3047 before closing at 1.2968.
- UK average earnings index 3m/y came in as expected at 3.0% and unemployment rate came in worse than expected at 4.1% 4.0%.
- German ZEW economic sentiment came in at -24.1.
- Australian Westpac consumer sentiment came in at 2.8%.
- Japanese prelim GDP q/q came in as expected at -0.3%.
- Australian wage price index q/q came in at 0.6%.
- Fixed asset investment ytd/y from China came in as expected at 5.7% and industrial production came in at 5.9%.
- PM Theresa May will host a special cabinet meeting at 2pm to seek the backing of ministers.
- May has been meeting one-to-one with ministers on the draft agreement.
- The agreement is reported to contain a UK-wide customs backstop aimed at preventing a hard border. There is no additional Northern Ireland-only backstop.
- Leading UK Brexiteers Boris Johnson and Jacob Rees-Mogg have criticised the agreement saying it would keep the UK under EU control.
- German preliminary GDP q/q came in weaker than expected at -0.2% vs -0.1%.
- UK CPI came in at 2.4% vs 2.5% expected. PPI input m/m came in at 0.8% vs 0.6% and RPI y/y at 3.3% vs 3.4%.
- Eurozone flash GDP q/q came in at 0.2% as expected.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|14:30||USD||Core CPI m/m||0.2%||0.1%|