Newsletter – 17th November 2017

Morning Bulletin


  • 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
GBP/EUR 1.1233 +0.21
GBP/USD 1.3249 +0.43
EUR/USD 1.1794 +0.21
AUD/USD 0.7550 -0.50


Time (GMT) Region Data Release Forecast Previous
13:30 CAD CPI m/m 0.1% 0.2%
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%
13:30 USD Building Permits 1.25M 1.23M
13:30 USD Housing Starts 1.19M 1.13M