- Sterling lost ground on the US dollar and euro on Wednesday.
- GBP/USD fell by 0.8% yesterday after opening at 1.2983 and trading a low of 1.2867 and closing at 1.2880.
- GBP/EUR opened at 1.1312 and traded up to a high of 1.1343 before dropping back off to close at 1.1304.
- EUR/USD opened at 1.1469 and fell by 0.68% to close at 1.1391.
- The Bank of Canada raised rates to 1.75% as expected.
- US crude oil inventories came in at 6.3m vs 3.6m expected.
- In an unprecedented move, the European Commission has told Italy to revise its domestic budget. The Commission is worried about the impact of higher spending on already high levels of debt in Italy.
- US President Donald Trump has called on the media to ‘stop the endless hostility’ after suspected explosives were posted to high-profile US figures included Barack Obama and Hilary Clinton.
- New Zealand trade balance came in worse than expected at -1560M vs -1365M.
- GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.8221, 1.9777 and 144.85, respectively.
- Spanish unemployment rate came in better than expected at 14.6% vs 14.9%.
- German Ifo business climate data came in at 102.8 vs 103.1 expected.
- The ECB are expected to keep rates at 0.00% at 12:45 with the press conference following at 1.30pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|12:45||EUR||Main Refinancing Rate||0.00%||0.00%|
|13:30||EUR||ECB Press Conference|
|13:30||USD||Core Durable Goods Orders m/m||0.5%||0.00%|
|13:30||USD||Durable Goods Orders m/m||-1.3M||4.4%|