- Yesterday was a rather muted day in the GBP/EUR and GBP/USD markets.
- GBP/EUR opened at 1.0835 and traded as high as 1.0881 before closing at 1.0848 which represents a 13 point gain on the day.
- GBP/USD traded a high of 1.2836 and a low of 1.2773 yesterday but only closed a point higher than where it opened at 1.2799.
- UK Second Estimate GDP q/q came in as expected at 0.3% but preliminary business investment fell short of expectations at 0.0% vs 0.2%.
- In the US, unemployment claims came in broadly as expected at 234K vs 237K. Existing home sales was weaker than expected at 5.44M vs 5.55M.
- Yesterday was also the first day of the Jackson Hole Symposium where the top central bankers from around the world gather in Wyoming.
- No significant data from the Asian session overnight.
- GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.6182, 1.7747 and 140.47 respectively.
- Today is day 2 of the Jackson Hole Symposium and we are expecting speeches from Janet Yellen (5pm) and Mario Draghi (8pm) so these will be closely watched by traders.
- This morning German Ifo Business Climate came in at 115.9 vs 115.5.
- At 1.30pm we are expecting core durable goods orders m/m from the US.
This is reminder that due to Monday 28th being a UK bank holiday, our desk will be closed but normal service resumes from 8am on Tuesday.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||USD||Core Durable Goods Orders m/m||0.4%||0.1%|
|13:30||USD||Durable Goods Orders m/m||-6.0%||6.4%|
|17:00||USD||Fed Chair Yellen Speaks|
|20:00||EUR||ECB President Draghi Speaks|
|Day 2||ALL||Jackson Hole Symposium|