Newsletter – 19th August 2019

Morning Bulletin


  • Sterling staged a solid recovery on Friday having been trading at it lowest level since January 2017 against the US Dollar earlier in the week.
  • Despite growing concerns of a no-deal Brexit, the Pound mustered some strength following a week of better than expected economic data, including Inflation, Retail Sales and wage growth.
  • GBP/USD closed Friday up +0.60% at 1.2150.
  • GBP/EUR closed the day up +0.70% at 1.0952.
  • Eurozone Trade Balance 17.9Bn (18.7Bn Exp).
  • US Prelim UoM Consumer Sentiment 92.1 (97.2 Exp).
Over The Weekend

  • UK PM Boris Johnson is scheduled to meet a number of EU Leaders this week, including Chancellor Merkel and President Macron, as he travels to Berlin and Paris ahead of the G7 summit this weekend.
  • Following a leak to the papers over the weekend, of Government documents that outlined worst case scenarios in the event of a no-deal Brexit, Boris Johnson accused remain-supporting former Ministers for the leak, suggesting they were attempting to damage Brexit negotiations. The Whitehall dossier, entitled ‘Operation Yellowhammer’, included warnings that the UK could suffer shortfalls of fresh food, fuel and medicines in the event of a no-deal Brexit.
  • New Zealand PPI Input q/q 0.3% (-0.6% Exp)
  • Japan Trade Balance -0.13Tn (-0.15Tn Exp)
  • Eurozone Current Account 18.4Bn (32.2Bn Exp)
  • Eurozone Inflation print due at 10am. That pretty much concludes the economic data releases due today.


Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.0914 -0.33
GBP/USD 1.2124 -0.14
EUR/USD 1.1104 +0.14
AUD/USD 0.6768 -0.09


Time (GMT) Region Data Release Forecast Previous
10.00 EUR Final CPI y/y 1.1% 1.1%
TBC EUR German Buba Monthly Report