- 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.
- 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.
- 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|
|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|