Newsletter – 2nd August 2019

Morning Bulletin

Yesterday

  • GBP/EUR posted a loss of 0.37% yesterday after opening at 1.0973, trading a high of 1.0992 and closing at 1.0931.
  • GBP/USD also posted a loss opening at 1.2154, trading a high of 1.2145, a low of 1.2088 and closing at 1.2126 representing a 0.23% fall on the day.
  • The Bank of England kept interest rates unchanged at 0.75% yesterday after the monetary policy committee voted unanimously for no change.
  • The governor of the Bank of England Mark Carney has warned that a no-deal Brexit would result in an instant shock to the UK economy. 
  • ISM manufacturing PMI came slightly worse than expected at 51.2 vs 52.0.
  • The Liberal Democrats have won the Brecon and Radnorshire by-election. Jane Dodds overturned a 8038 majority to beat incumbent Conservative Chris Davies by 1425 votes.
  • The by-election result leaves new PM Boris Johnson with a Commons working majority of 1.
Overnight
  • GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.7848, 1.8561 and 129.57, respectively.
  • Australian retail sales m/m came in better than expected at 0.4% vs 0.3%.
Today
  • At 1.30pm we Canadian trade balance data alongside non-farm payrolls from the US and unemployment rate.
  • At 3PM we have revised UoM consumer sentiment from the US.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.0922 -0.08
GBP/USD 1.2122 -0.03
EUR/USD 1.1098 +0.12
AUD/USD 0.6791 -0.10

 

Time (GMT) Region Data Release Forecast Previous
13:30 CAD Trade balance -0.3B 0.8B
13:30 USD Average hourly earnings m/m 0.2% 0.2%
13:30 USD Non-farm payrolls 164K 224K
13:30 USD Unemployment rate 3.6% 3.7%
15:00 USD Revised UoM consumer sentiment 98.5 98.4