Newsletter – 29th December 2017

Morning Bulletin

Yesterday

  • Sterling gained ground on the US dollar yesterday following weaker than expected unemployment claims data from the US. The expected figure was 240K but we saw a figure of 245K released.
  • Due to an already buoyant sterling and the disappointing figure, GBP/USD rallied from an opening rate 1.3396 to close at 1.3440.
  • Chicago PMI came in better than expected at 67.6 vs 62.2.
  • GBP/EUR opened at 1.1250 and closed the day slightly higher at 1.1268.
  • The dollar also showed weakness against the euro with EUR/USD gaining 0.47% on Thursday.
Overnight
  • Very little data to report from Asian session with only private sector credit m/m from Australia coming in better than expected at 0.5% vs 0.4%.
Today
  • Spanish Flash CPI y/y came in at 1.2% vs 1.5% expected.
  • Eurozone M3 money supply y/y came in as expected at 4.9%.
  • Yesterday’s US dollar weakness has continued this morning with GBP/USD and EUR/USD trading higher by 0.40% and 0.32%, respectively.
  • On behalf of all of us at Godi Financial, Happy New Year and best wishes for 2018.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1260 +0.06
GBP/USD 1.3493 +0.40
EUR/USD 1.1979 +0.31
AUD/USD 0.7813 +0.30

No economic data due to be released today.