Newsletter – 14th September 2018

Morning Bulletin

Yesterday

  • As expected the Bank of England’s monetary policy committee held the UK base rate at 0.75% with all nine members voting in favour of no change.
  • The ECB followed suit by keeping the European refinancing rate at 0.00% as expected.
  • GBP/EUR closed slightly down on the day – the market opened at 1.1213, traded a high of 1.1243, a low of 1.1199 and closed at 1.1208.
  • Sterling gained ground on the US dollar yesterday after opening at 1.3043 and rallying by just under 0.5% to close at 1.3105.
  • US CPI m/m came in weaker than expected at 0.2% vs 0.3%. Core CPI m/m came in at 0.1% vs 0.2% expected.
Overnight
  • Business NZ manufacturing index came in at 52.0
  • Chinese fixed asset investment ytd/y came in at 5.3% vs 5.5% expected.
  • Chinese industrial production y/y came in at 6.1% vs 6.0% expected.
Today
  • At 11am Bank of England governor Mark Carney will be speaking in Dublin.
  • At 1.30pm US core retail sales m/m is expected to come in at 0.5% and retail sales m/m is expected to come in at 0.4%.
  • At 3pm US preliminary UoM consumer sentiment is expected to come in at 96.7.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1218 +0.09
GBP/USD 1.3126 +0.16
EUR/USD 1.1699 +0.08
AUD/USD 0.7199 +0.15

 

Time (GMT) Region Data Release Forecast Previous
11:00 GBP BOE Gov Carney Speaks
13:30 USD Core Retail Sales m/m 0.5% 0.6%
13:30 USD Retail Sales m/m 0.4% 0.5%
15:00 USD Prelim UoM Consumer Sentiment 96.7 96.2