- On what was a quiet day’s trading Sterling lost ground during the afternoon session following comments from BOE Governor Mark Carney.
- Despite reiterating largely what was said last week, markets appeared to view Carney’s comments as a slight backtrack, with the Governor stating any potential rate increases would be at a gradual pace and to a limited extent.
- GBP/EUR dropped from around 1.1340 to 1.1290, whilst GBP/USD plummeted from around 1.3550 to 1.3466.
- Following Boris Johnson’s much criticized Daily Telegraph Brexit article published over the weekend, a spokesman for UK PM Theresa May yesterday stated that the PM, her advisers and Mr Johnson were all united behind the Governments Brexit Plan.
- Eurozone Inflation was in-line with expectations and remained at a 4-month high of 1.5%.
- Canadian Foreign Securities Purchases 23.95Bn (4.46Bn Exp).
- Speaking yesterday evening Bank of Canada Deputy Gov Lane said that the BOC will be closely watching how the strengthening Canadian Economy responds to higher interest rates and a stronger Canadian Dollar.
- According to Candian PM Justin Trudeau a Post-Brexit trade deal with the UK could be even better than their current CETA agreement with the EU.
- Australia House Price Index q/q 1.9% (1.2% Exp)
- New Zealand Westpac Consumer Sentiment 112.4 (113.4 Prior)
- Eurozone Current Account and German Consumer Confidence are the only prints this morning.
- Raft of data then due for release out of North America at 1.30pm.
- As always look out for the NZ Global Dairy Trade figure where NZ Dollar is concerned.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|09.00||EUR||Eurozone Current Account||22.3Bn||21.2Bn|
|10.00||EUR||German ZEW Economic Sentiment||12.3||10.0|
|13.30||CAD||Manufacturing Sales m/m||-1.7%||-1.8%|
|13.30||USD||Import Prices m/m||0.4%||0.1%|
|TBC||NZD||GDT Price Index||0.3%|