- GBP/EUR opened at 1.1080, traded a high of 1.1101, a low of 1.1045 and closed at 1.1060 – a 0.18% fall on the day.
- GBP/EUR opened at 1.2611, traded a high of 1.2706 and a low of 1.2608 before closing at 1.2654 representing a 0.35% increase on Thursday.
- UK retail sales m/m came in far stronger than expected at 1.4% vs 0.3%.
- The Bank of England kept interest rates unchanged yesterday at 0.75% with the MPC voting unanimously in favour of the unchanged rate.
- The BoE cut growth forecasts yesterday stating that Brexit uncertainty has intensified considerably over the past month and this has hit the UK economy.
- Financial Secretary to the Treasury Mel Stride warned UK business that ‘there is a call to action now’ to prepare for a no-deal Brexit although he also said the event was unlikely.
- Members of the cabinet Andrea Leadsom and Amber Rudd set out rival alternative plans should Theresa May fail to get her plan through Parliament. Ms Rudd said that a second referendum would be plausible but Mrs Leadsom said it would be ‘unacceptable’ and argued instead for a ‘managed no-deal’.
- US Defence Secretary James Mattis has resigned after opposing President Trump’s decision to withdraw US troops from Syria.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.7874, 1.8820 and 140.73.
- This morning the UK current account came in weaker than expected at -26.5B vs -21.7B. Final GDP came in as expected at 0.6% and public sector net borrowing came in at 6.3B vs 7.0B.
- At 1.30 we have growth and retail sales data from Canada alongside growth and durable goods orders from the US.
- Gatwick airport has reopened this morning its closure yesterday due to a drone flying within the airports airspace causing some 700 flights to be cancelled.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||CAD||Core retail sales m/m||0.2%||0.1%|
|13:30||CAD||Retail Sales m/m||0.4%||0.2%|
|13:30||USD||Core Durable Goods Orders m/m||0.3%||0.2%|
|13:30||USD||Final GDP q/q||3.5%||3.5%|
|13:30||USD||Durable Goods Order m/m||1.6%||-4.3%|