- GBP/EUR closed 3 points higher than its opening rate yesterday, closing at 1.1391 after opening at 1.1388. The market traded a high of 1.1408 and a low of 1.1357.
- Sterling weakened against the US dollar yesterday. GBP/USD opened at 1.3183 and come off by just over half of a percent to close at 1.3113.
- PM Theresa May said, following a economic summit in Brussels, that the UK transition out of the EU could be extended by a ‘matter of months’ to ensure no hard hard border in Northern Ireland.
- The UK leaves the EU in March and the transition period is currently expected to finish at the end of 2020.
- May said the UK had put forward a proposal to avoid the need for either a harder border or a customs border between Northern Ireland and the rest of the UK.
- Canadian manufacturing sales m/m came in at -0.4% vs -0.6% expected.
- US building permits came in at 1.24M vs 1.27M expected and housing starts came in as expected at 1.2M.
- Australian employment change came in weaker than expected at 5.6K vs 15.2K expected but the unemployment rate beat expectations coming in at 5.0% vs 5.3%.
- UK retail sales came in short of expectations this morning with a figure of -0.8% vs -0.4% expected.
- Day 2 of the EU economic summit continues today.
- At 1.30pm we will get the latest Philly Fed manufacturing index figure.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||USD||Philly Fed Manufacturing Index||19.7||22.9|