- Sterling lost ground on the euro on Friday despite the positive developments in Brexit negotiations.
- GBP/EUR fell by 0.6% on Friday opening at 1.1399 before trading a low of 1.1292 and closing at 1.1333.
- Sterling also weakened against the US dollar closing at 1.3315 after opening at 1.3428 representing a 0.82% decrease.
- In terms of economic data, Canadian manufacturing sales m/m came in weaker than expected at -0.4% vs 0.9% expected. At the same time empire state manufacturing index from the US came in at 18 vs 18.8 expected.
- At 2.15pm, the US capacity utilisation rate came in as expected at 77.1% and US industrial production m/m came in slightly weaker than expected at 0.2% vs 0.3%.
- GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.7426, 1.9028 and 150.42, respectively.
- We have a typically quiet Monday ahead on the data front.
- At 10am we have final CPY y/y from the Eurozone and foreign securities purchases from the Canada at 1.30pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|10:00||EUR||Final CPI y/y||1.5%||1.5%|
|13:30||CAD||Foreign Securities Purchases||16.81B|