Newsletter – 18 February 2017

Morning Bulletin


  • Friday proved a largely quiet day on the whole with a distinct lack of data for release.
  • The only key release came at 9.30am in the form of UK Retail Sales and it fell well below economists’ expectations. Having forecast month on month growth of 1.0% for January, the actual figure showed a decline of -0.3%. This was largely attributed to rising inflation, most notably in food and fuel prices.
  • Sterling took a hammering in the immediate aftermath of this print plummeting from around 1.2475 to a day’s low of 1.2387 against the US Dollar. Similarly against the Euro the Pound plunged from 1.1717 to a 10 day low of 1.1638. Sterling did however fight back over the course of the afternoon, closing at parity for the day versus the Euro, but still someway short of where it had started the day against the Dollar.
  • Only other data of any note released Friday:
    • Canadian Foreign Security Purchases 10.23Bn(11.59Bn Exp)
    • US CB Leading Index m/m 0.6% (0.5% Exp)


  • New Zealand PPI Input q/q 1.0% (0.9% Exp)
  • UK Rightmove House Price Index 2.0% (0.4% Previously)
  • Latest Opinionway Poll has Marine La Pen leading at 26%, with Macron and Fillon each on 20%.
  • In Germany, the latest Emnid Poll has Merkel’s CDU party trailing the German SPD party, currently standing at 33% vs 32%.
  • Quiet day in prospect as the United States celebrates President’s Day Bank Holiday.
  • Very few data releases of any note.


Current at time of distribution

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1722 +0.30
GBP/USD 1.2446 +0.33
EUR/USD 1.0616 +0.08
AUD/USD 0.7673 +0.07


Current at time of distribution
Time (GMT) Region Data Release Forecast Previous
10.00 EUR EU’s Donald Tusk Speaks
10.00 USD US Vice President Pence Speaks
11.00 EUR German Buba Monthly Report
11.00 GBP CBI Industrial Order Expectations 5 5
13.30 CAD Wholesale Sales m/m 0.4% 0.2%
15.00 EUR Consumer Confidence -5 -5