- We saw a mixed day for sterling yesterday as it lost ground on the euro but gained on the US dollar.
- GBP/EUR opened at 1.1205 and fell by just under a tenth of a percent to close at 1.1195 and GBP/USD opened at 1.3189 and traded a low of 1.3140 before closing at 1.3205.
- A UK government spokesman says they never confirmed date for the Brexit bill to be put for parliament.
- Spanish media are reporting that the Catalan government will not call for fresh elections if Article 155 is invoked.
- The region’s president told a meeting of his party that he would formally declare independence if Madrid suspended the region’s autonomy.
- UK average earnings index 3m/y came in better than expected at 2.2% vs 2.1% and the unemployment rate came in as expected at 4.3%.
- Canadian manufacturing sales m/m came in much better than expected at 1.6% vs -0.1%.
- US building permits fell short of expectations coming in at 1.22m vs 1.25m expected and housing starts also came in weaker than expected at 1.13m vs 1.18m.
- North Korea threatened that the US could an ‘unimaginable’ strike.
- Australia employment change was better than expected at 19.8K vs 14.1K and the unemployment rate was at 5.5% vs 5.6% expected.
- Chinese GDP y/y came in as expected at 6.8% and industrial production y/y came in at 6.6% vs 6.4% expected.
- UK retail sales came in weaker than expected at -0.8% vs -0.1% and sterling as weakened as a result.
- GBP/USD has dropped by half a percent and GBP/EUR by a similar percentage.
- The BBC are reporting Spain is to start suspending Catalonia’s autonomy from Saturday it’s leader threatened to declare independence.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||USD||Philly Fed Manufacturing Index||21.9||23.8|