Newsletter – 24 February 2017

Morning Bulletin


  • We witnessed a strong performance from sterling against the US dollar and euro on Thursday with GBP/USD gaining by 0.8% and GBP/EUR gaining by 0.86%.
  • GBP/USD opened at 1.2448 but rallied during the course of the day as the pound bounced back from the effects of  Wednesday’s GDP release.
  • US jobless claims came in roughly as expected at 244k vs 242K expected.
  • GBP/EUR opened at 1.1784 before closing near the high of the day at 1.1827.
  • US Treasury Secretary Mnuchin said he wants to see very significant tax reform passed the August Congress Recess. He also said the they are aiming for 3% growth and hope to reach this level by the end of next year.
  • The ECB’s Nowotny said he sees no reason to change eurozone interest rates this year.
  • The RBA’s Lowe said last night that there are more effective ways to stimulate demand than cutting rates and that the RBA would prefer a lower AUD rate.
  • Slim pickings on the data front today with the only data of note being Canadian CPI m/m at 1.30pm and New Home Sales from the US at 3pm.


Current at time of distribution

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1850 -0.13%
GBP/USD 1.2532 -0.18%
EUR/USD 1.0572 -0.08%
AUD/USD 0.7704 -0.13%


Current at time of distribution
Time (GMT) Region Data Release Forecast Previous
13.30 CAD CPI m/m 0.3% -0.2%
13.30 CAD Common CPI y/y 1.4%
13.30 CAD Median CPI y/y 2.0%
13.30 CAD Trimmed CPI y/y 1.6%
15.00 USA New Home Sales 575K 536K
15.00 USA Revised UoM Consumer Sentiment 96.1 95.7