Newsletter – 25th May 2018

Morning Bulletin


  • GBP/USD opened at 1.3344 yesterday before trading a high of 1.3421 and closing at 1.3378.
  • GBP/EUR closed at 1.1414 after opening at 1.1406 trading a high of 1.1444 and a low of 1.1393.
  • UK retail sales came in much better than expected at 1.6% vs 0.8%. The increase would put down to a return of fuel sales in April after snow hit sales in March.
  • US unemployment claims were up on the previous figure and higher than anticipated coming in at 234K vs the estimated 220K.
  • US home sales also came in weaker than expected at 5.46M vs 5.56M.
  • US President Trump yesterday cancelled the scheduled meeting with North Korean leader Kim Jong-un. Trump blamed Pyongyang’s “open hostility” for the cancellation. The meeting would have been the first between a sitting US president had met a North Korean leader.
  • Trump added that he had been looking forward to the meeting and North Korean vice-foreign minister Kim Kye-gwan said Trump’s decision was ‘deeply regrettable’.
  • GBP/AUD, GBP/JPY and GBP/NZD are trading 1.7603, 146.29 and 1.9260.
  • This morning German ifo business climate came in as expected at 102.0.
  • At 1.30pm we have core durable goods orders m/m from the US.
  • After that we will hear from Bank of England Governor Carney and Fed Chair Powell.
  • The last piece of data comes from the US with revised UoM consumer sentiment at 3pm.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1404 -0.09
GBP/USD 1.3355 -0.17
EUR/USD 1.1711 -0.07
AUD/USD 0.7587 +0.18


Time (GMT) Region Data Release Forecast Previous
13:30 USD Core durable goods orders m/m 0.5% 0.1%
13:30 USD Durable goods orders m/m -1.3% 2.6%
14:20 GBP BOE Gov Carney Speaks
14:20 USD Fed Chair Powell Speaks
15:00 USD Revised UoM Consumer Sentiment 98.8 98.8