- 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.
- 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%.
- 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.
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No economic data due to be released today.