- Sterling gained value against the US dollar and the euro in yesterday’s trading.
- GBP/USD opened at 1.3117 and traded a high of 1.3193 before closing the day at 1.3177 representing an increase of 0.46% on the day.
- GBP/EUR opened at 1.1160, traded a low of 1.1143 and a high of 1.1209 before closing at 1.1198 representing a 0.34% increase on the day.
- EUR/USD opened at 1.1747 and closed at 1.1765 after trading a high of 1.1792.
- Labour leader Jeremy Corbyn has said that the UK government would have to return to the EU negotiating table if Parliament rejects its Brexit deal. Corbyn told the BBC that Labour would decide whether to back the deal based on its six tests – which the party says the government are nowhere near meeting.
- US consumer confidence came in better than expected at 138.4 vs 132.2.
- New Zealand trade balance came in at -1484m, worse than the -930m expected.
- ANZ business confidence from NZ came in at -38.3.
- GBP/NZD, GBP/AUD and GBP/JPY are trading at 1.9779, 1.8139 and 148.67, respectively.
- At 3.30pm crude oil inventories from the US are expected to come in at -0.7M.
- We have a quiet afternoon before all eyes turn to the US with FOMC economic projections, FOMC statement and federal funds rate all expected to be released at 7pm. The rate is forecast to be increased to <2.25%
- This will be followed by the FOMC press conference at 7.30pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|19:00||USD||FOMC Economic Projections|
|19:00||USD||Federal Funds Rate||<2.25%||<2.00%|
|19:30||USD||FOMC Press Conference|
|22:00||NZD||Official Cash Rate||1.75%||1.75%|
|22:00||NZD||RBNZ Monetary Policy Statement|
|22:00||NZD||RBNZ Rate Statement|
|23:00||NZD||RBNZ Press Conference|