- GBP/USD fell and closed below 1.34 for the first time since 22nd December 2017 due to US dollar strength and weaker than expected inflation figure from the UK.
- UK CPI y/y came in at 2.4% vs 2.5% expected. PPI input m/m also came in softer at 0.4% vs 1.0% expected. RPI y/y came in as expected at 3.4%,
- Prior to that we had a plethora of data from the Eurozone.
- French flash manufacturing PMI came in at 55.1 vs 53.6 expected and flash services PMI came in at 54.3 vs 57.1.
- German flash manufacturing PMI came in at 56.8 vs 57.9 and flash services PMI came in at 52.1 vs 53.1.
- Eurozone flash manufacturing PMI came in at 55.5 vs 56.1 and flash services PMI came in at 53.9 vs 54.7 expected.
- GBP/EUR closed 11 points higher than its opening rate at 1.1411 after trading a low of 1.1368 and a high of 1.1441.
- The US dollar eased off following the FOMC meeting last night where the inflation was seen as dovish by the markets.
- New Zealand trade balance came in better than expected at 263M vs 200M.
- GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.7720, 1.9375 and 147.07 expected.
- UK retail sales m/m came strong than expected at 1.6% vs 0.8%.
- At 12.30pm we have ECB monetary policy meeting accounts from before employment and home sales data from the US.
- Sterling has had a strong start to the day off the back of the better than expected retail sales data printing up half of a percent against the greenback.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|12:30||EUR||ECB Monetary Policy Meeting Accounts|
|15:00||USD||Existing Home Sales||5.56M||5.60M|
|15:35||USD||FOMC Member Bostic Speaks|
|18:00||GBP||BOE Gov Carney Speaks|