Newsletter – 3 March 2017

Morning Bulletin

Yesterday

  • Yesterday was a mixed day for sterling as it gained modestly against the euro but lost some ground to the US dollar.
  • The only economic data of note from the UK was in the form of construction PMI which matched expectations at 52.5.
  • Elsewhere, US unemployment claims beat expectations at 223K vs 243K and Canadian GDP m/m came in as expected at 0.3%.
  • GBP/USD fell by a fifth of a percent on the day after opening at 1.2291 and closing at 1.2265. GBP/EUR opened at 1.1652 and closed at 1.1676.
Overnight
  • Trade balance data from Australia came in worse than expected at 1.30B vs 3.82B but building approvals m/m beat expectations at 1.8% vs -0.1% expected.
Today
  • We have services PMI from the UK at 9.30am before ISM non-manufacturing PMI from the US at 3pm.
  • We then hear from FOMC members Evans and Powell this afternoon before Fed Chair Yellen speaks at 6pm.

 

MAJOR CURRENCY PAIRS
Current at time of distribution

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1650 -0.21
GBP/USD 1.2262 -0.03
EUR/USD 1.0522 +0.16
AUD/USD 0.7563 -0.07

 

ECONOMIC CALENDAR
Current at time of distribution
Time (GMT) Region Data Release Forecast Previous
09:30 GBP Services PMI 54.2 54.5
15:00 USD ISM Non-Manufacturing PMI 56.5 56.5
15:15 USD FOMC Member Evans Speaks
17:15 USD FOMC Member Powell Speaks
18:00 USD Fed Chair Yellen Speaks