Newsletter – 19th January 2018

Morning Bulletin


  • GBP/USD posted its sixth consecutive day of gains yesterday as it traded at its highest level since the Brexit vote in June 2016.
  • The market opened at 1.3827 and rallied 0.47% to close at 1.3893 – this represents a move 1.89% since Monday and 2.65% since the tail end of last week.
  • GBP/EUR opened at 1.1342 and closed slightly higher at 1.1351.
  • UK PM Theresa May made optimistic comments on Brexit yesterday following her meeting with French President Macron. May said that Brexit will never impact the bilateral French-UK relationship.
  • US building permits came in at 1.30M vs 1.29M expected and unemployment claims came in better than expected at 220K vs 250K expected.
  • GBP/AUD, GBP/JPY and GBP/NZD are all trading higher this morning at 1.7354, 154.11 and 1.9064, respectively.
  • Swiss PPI m/m came in weaker than expected this morning at 0.2% vs 0.4%.
  • UK retail sales m/m also came in weaker than expected at -1.5% vs -0.8% expected.
  • All eyes turn to Canada and the US this afternoon with foreign securities purchases and manufacturing sales data expected from Canada at 1.30pm.
  • This will be followed by preliminary UoM consumer sentiment data at 3pm from the US.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1334 -0.15
GBP/USD 1.3922 +0.21
EUR/USD 1.2283 +0.39
AUD/USD 0.8025 +0.35


Time (GMT) Region Data Release Forecast Previous
13:30 CAD Foreign Securities Purchases 15.76B 20.81B
13:30 CAD Manufacturing Sales m/m 1.9% -0.4%
15:00 USD Prelim UoM Consumer Sentiment 97 95.9