- Sterling lost ground on the other majors on Friday falling by 0.8% against the US dollar and 0.6% on the euro.
- GBP/EUR opened on Friday at 1.1860 but closed down at 1.1790 whereas GBP/USD opened at 1.2556 and closed 1.2454.
- President Trump was speaking in Maryland on Friday at the Conservative Political Action Conference where he again attacked certain parts of the media suggesting that the ‘dishonest media’ falsified stories about issues in his administration using ‘made-up’ sources.
- In terms of economic data, we saw Canadian CPI m/m come in better than expected at 0.9% vs the 0.3% estimate.
- Overnight we saw company operating profits q/q data from Australia come in far better than expected at 20.1% vs 8.0% expected.
- Sterling has devalued against its counterparts this morning on the news that Theresa May is preparing for the Scottish government to a call a second independence referendum as the UK government prepares to trigger Article 50 next month. (PoundSterlingLive)
- Brexit is season by Scottish nationalists as the perfect excuse for another referendum and it is thought that a push for independence could occur on a regular basis going forward.
- Sterling is down 0.4% on the US dollar and 0.6% on the euro this morning as a result of this news.
- We have core durable good orders m/m from the USA at 1.30pm before US pending home sales at 3pm, a speech from FOMC member Kaplan at 4pm and New Zealand trade balance data at 9.45pm.