Newsletter – 18th December 2017

Morning Bulletin


  • 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
GBP/EUR 1.1321 -0.11
GBP/USD 1.3353 +0.27
EUR/USD 1.1793 +0.40
AUD/USD 0.7663 +0.30


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