- There was a real lack of data set for release Friday, and none out of the UK. Despite that, Sterling still lost ground on the Euro and US Dollar.
- GBP/USD opened around 1.2895, and closed the day down at 1.2872.
- GBP/EUR opened around 1.0992, and closed the day down at 1.0953.
- The Eurozone Current Account surplus declined to a 3 year low of 21.2Bn (27.3Bn Exp).
- Canadian CPI m/m stagnated during July with Inflation at0.0% as expected. This print could decrease pressure on the Bank of Canada to hike rates anytime soon, following their first rate hike in 7 years back in July.
- US Prelim University of Michigan Consumer Sentiment 97.6(94.0 Exp).
- Speaking in the afternoon US Fed Member Kaplan reiterated that he would remain patient about another rate rise whilst inflation remains subdued. Kaplan said he would like to see inflation progressing toward the Fed’s 2% target before considering a further hike.
Over The Weekend
- The exodus in the White House continued Friday night, this time President Trump’s Chief Strategist Stephen Bannon left by ‘mutual consent’ stating that ‘No administration in history has been so divided’.
- According to the Wall Street Journal, ECB President Draghi will likely lay out the end to the ECB’s QE program during his address at the Jackson Hole symposium Friday.
- The UK Government will release five new Brexit negotiation papers this week that will include their position on the jurisdiction of the ECJ, data protection, and goods and services after Brexit.
- New Zealand Visitor Arrivals m/m -5.3% (5.1% Previous)
- UK Rightmove HPI m/m -0.9% (0.1% Previous)
- Japan All Industries Activity m/m 0.4% (0.5% Exp)
- Typical Monday unfortunately with very little data set for release.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|09.30||GBP||Public Net Sector Borrowing||6.3Bn|
|11.00||EUR||German Buba Monthly Report|
|13.30||CAD||Wholesale Sales m/m||0.9%|
|15.30||AUD||CB Leading Index m/m||0.1%|