- Sterling had a positive day against the other majors yesterday as data from the UK came in better than expected.
- UK retail sales m/m came in at 0.3% vs 0.1% expected.
- GBP/EUR closed 0.4% higher with an opening rate of 1.1165 and closing rate of 1.1210.
- Eurozone final CPI y/y came in as expected at 1.4%.
- Cable pushed towards the higher end of its recent range yesterday closing at 1.3193 after opening 1.3169 and trading a low of 1.3135 before recovering in the afternoon session.
- Unemployment claims from the US came in worse than expected at 249K vs 235K expected and import prices m/m also came in weaker at 0.2% vs 0.4%.
- US Philly Fed manufacturing index came in at 22.7 vs 24.5.
- Also from the US capacity utilisation rate came in at 77% vs 76.3% expected and industrial production m/m came in at 0.9% vs 0.5%.
- New Zealand business manufacturing index data came in at 57.2 overnight after previously posting a figure of 57.6.
- PPI input q/q from New Zealand came in at 1.0% vs 1.2%.
- Today we expect data from Canada and the US in form of inflation data from Canada and building permits and housing starts from the US.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||CAD||Common CPI y/y||1.5%|
|13:30||CAD||Median CPI y/y||1.8%|
|13:30||CAD||Trimmed CPI y/y||1.5%|