- Wednesday’s US dollar strength continued into Thursday with GBP/USD posting a small loss of 0.04%. The market opened at 1.2902, traded a low of 1.2865 and closed at 1.2897.
- GBP/EUR opened at 1.1563, traded a high of 1.1591 and closed up 0.15% on the day at 1.1582.
- Spanish unemployment rate came in worse than expected at 14.7% vs 14.5%.
- US core durable goods orders m/m came in better than expected at 0.4% vs 0.2% expected. Durable goods orders m/m also came in better than expected at 2.7% vs 0.7%.
- US National Economic Council director Larry Kudlow said yesterday that the Federal Reserve Board might be considering cutting interest rates further. He said “It’s true that in the open market, the funds rate has traded a bit high, but I think they’re moving towards rate cuts”.
- EUR/USD opened at 1.1153, traded a high of 1.1163, a low of 1.1118 and closed at 1.1131 representing a 0.2% fall on the day.
- New Zealand trade balance came in better than expected at 922M vs 131M.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.8356, 1.9403 and 144.19.
- US Advance GDP q/q data is due at 1.30pm.
- US revised UoM consumer sentiment is due at 1.30pm and expected to come in at 97.1.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||USD||Advance GDP q/q||2.2%||2.2%|
|13:30||USD||Advance GDP Price Index q/q||1.3%||1.8%|
|15:00||USD||Revised UoM Consumer Sentiment||97.1||96.9|