- GBP/EUR and GBP/USD continued to trade within their recent ranges yesterday with GBP/EUR opening at 1.1344 and closing a fifth of a percent up at 1.1370. GBP/USD opened at 1.2670 and closed 12 pips higher at 1.2682.
- Prime Minister Theresa May was in Brussels yesterday to address EU leaders and proposed that EU citizens living in the UK would be allowed to stay after Brexit. EU migrants that had lived in the UK for five years or longers would retain the rights to access health, education and other benefits.
- This proposal is dependent on EU states guaranteeing Britons living in EU member countries the same rights.
- German Chancellor Angela Merkel commented on the proposal saying that it was a “good start”.
- Canadian retails sales m/m and core retails sales m/m came in better than expected at 0.8% vs 0.3% and 1.5% vs 0.6%, respectively.
- US unemployment came in as expected at 241K.
- GBP/AUD is currently trading at 1.6795 and GBP/NZD is trading at 1.7472.
- This morning we saw PM data from the Eurozone. Flash manufacturing PMI and flash services PMI from Europe came in at 57.3 vs 56.9 and 54.7 vs 56.2, respectively.
- French flash manufacturing PMI and flash services PMI came in at 55.0 vs 54.1 and 55.3 vs 57.1, respectively.
- German flash manufacturing PMI and flash services PMI came in at 59.3 vs 59.1 and 53.7 vs 55.4, respectively.
- At 1.30pm we will see CPI m/m from Canada along with other inflation measures before we see new home sale from the US at 3pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||CAD||Common CPI y/y||1.3%|
|13:30||CAD||Median CPI y/y||1.6%|
|13:30||CAD||Trimmed CPI y/y||1.3%|
|15:00||USD||New Home Sales||599K||569K|