Newsletter – 25th July 2019

Morning Bulletin

Yesterday

  • GBP/EUR opened at 1.1153, traded a high of 1.1225, a low of 1.1151 and closed at 1.1202 representing a 0.47% increase on the day.
  • GBP/USD opened at 1.2438, traded a high of 1.2522, a low of 1.2427 and closed at 1.2484 representing a 0.36% increase on the day.
  • New UK prime minister Boris Johnson formed his new cabinet yet with leading Brexiteers given key roles.
    • Dominic Raab, Priti Patel and Sajid Javid have been made foreign secretary, home secretary and chancellor of the exchequer, respectively.
    • Over half of Theresa May’s old cabinet have quit or were sacked.
    • Jacob Rees-Mogg has become the leader of the house of commons.
  • US flash manufacturing PMI came in at 50.0 vs 50.9 expected.
  • Eurozone flash manufacturing PMI came in at 46.4 vs 47.6 and flash services PMI came in at 53.3 as expected.
Overnight
  • GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.7913, 1.8654 and 134.89, respectively.
Today
  • Spanish unemployment rate came in at 14.0% vs 13.7%.
  • German Ifo business climate came in at 95.7 vs 97.1.
  • Boris Johnson is holding his first cabinet meeting as prime minister this morning.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1208 +0.05
GBP/USD 1.2476 -0.06
EUR/USD 1.1132 -0.07
AUD/USD 0.6965 -0.16

 

Time (GMT) Region Data Release Forecast Previous
12:45 EUR Main refinancing rate 0.00% 0.00%
12:45 EUR Monetary policy statement
13:30 EUR ECB press conference
13:30 USD Core durable goods orders m/m 0.2% 0.4%
13:30 USD Durable goods orders m/m 0.8% -1.3%