Newsletter – 23 January 2017

Morning Bulletin

Last Week

  • Friday saw President-elect Donald Trump’s inauguration in Washington DC. The markets response in the immediate aftermath was fairly muted.
  • President Trump’s speech was considered protectionist and nationalistic in nature whilst being very thin on pro-USD substance i.e details on his fiscal spending plans. (PoundSterlingLive)
  • GBP/USD closed the day at 1.2373 – 30 points up on the open whereas EUR/USD also closed just over 30 points up at 1.0698.
  • UK retails sales m/m came in weaker than expected at -1.9% vs -0.1% expected.
  • GBP/EUR traded a narrow range on Friday with a high of 1.1587 and a low of 1.1533.
Today
  • Very quiet day ahead in terms of data as is often the case on a  Monday.
  • We have wholesale sales m/m from Canada at 1.30pm before ECB President Draghi speaks in Italy at 11.30pm.

 

MAJOR CURRENCY PAIRS
Current at time of distribution

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1596 +0.31%
GBP/USD 1.2440 +0.53%
EUR/USD 1.0727 +0.27%
AUD/USD 0.7555 +0.05%

 

ECONOMIC CALENDAR
Current at time of distribution
Time (GMT) Region Data Release Forecast Previous
13:30 CAD Wholesale Sales m/m 0.3% 1.1%
23:30 EUR ECB President Draghi Speaks