- Sterling made gains on the euro and US dollar yesterday.
- GBP/EUR opened at 1.1354 and traded a high of 1.1424 before closing at 1.1391 representing a 0.33% increase on the day.
- GBP/USD opened at 1.3151 and traded a high of 1.3236 before closing at 1.3184 – an increase of a quarter of a percent on the day.
- Theresa May called upon her cabinet to ‘stand together and stand firm’ before she heads or Brussels on Wednesday. She is expected to urge EU leaders to keep the door open to continuing Brexit negotiations.
- The Fed’s Powell said that a disorderly Brexit could harm the US economy due to exposure to UK banks.
- Liam Fox says the UK needs a long transition period to make a free-trade deal with the EU.
- UK average earnings index 3m/y came in better than expected at 2.7% vs 2.6% and the unemployment rate came in as expected at 4.0%.
- Canadian foreign securities purchases came in weaker than expected at 2.82B vs 10.05B.
- GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.8378, 1.9955 and 147.47, respectively.
- We had inflation data released from the UK this morning.
- CPI y/y came in weaker at 2.4% vs 2.6%.
- PPI Input m/m came in at 1.3% vs 0.9% expected.
- RPI y/y came in at 3.3% vs 3.5% expected.
- The EU economic summit is due take place today in Brussels with Theresa May expected to attend.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|ALL||EUR||EU Economic Sentiment|
|13:30||CAD||Manufacturing Sales m/m||-0.6%||0.9%|
|19:00||USD||FOMC Meeting Minutes|