Newsletter – 2nd March 2018

Morning Bulletin

Yesterday

  • Sterling continued to weaken against the euro with GBP/EUR falling from 1.1280 to 1.1227 on Thursday. This represented a 0.47% decrease in the value of the pound relative to the euro.
  • Sterling did trade at its lowest level against the US dollar since mid-January for a brief period yesterday hitting a daily low of 1.3711 before closing at 1.3775.
  • UK manufacturing PMI came in as expected at 51.6 but net lending to individuals came in soft at 4.7B.
  • US unemployment claims came in at 210K which is better than the 226K expected.ISM manufacturing PMI came in at 60.8.
Overnight
  • GBP/AUD, GBP/JPY and GBP/NZD are trading 1.7764, 145.49 and 1.8989.
Today
  • This morning German retail sales m/m came in slightly weaker than expected at -0.7% vs 0.8% expected.
  • Spanish unemployment change came in at -6.3K vs -7.2K expected.
  • Prime Minister Theresa May is due to speak about Britain’s post-Brexit relationship with the EU in London today.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1208 -0.17
GBP/USD 1.3777 +0.02
EUR/USD 1.2293 +0.22
AUD/USD 0.7751 -0.03

 

Time (GMT) Region Data Release Forecast Previous
TENT GBP Prime Minister May Speaks
09:30 GBP Construction PMI 50.5 50.2
10:00 GBP BOE Gov Carney Speaks
13:30 CAD GDP m/m 0.1% 0.4%