- Sterling lost some ground on the euro yesterday. Having opened at 1.1582, GBP/EUR traded a high of 1.1599, a low of 1.1559 and closed down 0.05% at 1.1561.
- The US dollar lost some gains on sterling after GBP/USD closed higher by 0.17% on Monday. The market opened at 1.2920, traded a high of 1.2947 and a low of 1.2905 before closing at 1.2932.
- From the US core PCE price index m/m came in weaker than expected at 0.0% vs 0.1%. Personal spending m/m came in better than expected at 0.9% vs 0.7%.
- Trump advisor Kudlow says FOMC talk on lower inflation target “could mean a lower interest rate adjustment”.
- UK Lloyds business barometer for April improves for a 2nd month from 10 to 14.
- GfK April Consumer confidence remains at -13 for 3rd consecutive month.
- Chinese manufacturing PMI came in weaker than expected at 50.1 vs 50.7, non-manufacturing PMI also came in weaker at 54.3 vs 55.0.
- Caixan manufacturing PMI produced a figure of 50.2 vs 51.0 expected.
- From New Zealand ANZ business confidence came in at -37.5.
- GBP/AUD, GBP/NZD and GBP/JPY are trading 1.8388, 1.9431 and 144.24, respectively.
- The US and China are due to begin a fresh round of talks in Beijing today in an attempt to find a solution to their damaging trade dispute. US treasury secretary Mnuchin said the talks with China could be over as early as the end of next week.
- We have GDP data from Canada at 1.30pm.
- At 2.45pm Chicago PMI is released and followed by CB consumer confidence at 3pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|10:00||EUR||Prelim Flash GDP q/q||0.3%||0.2%|
|13:30||USD||Employment Cost Index q/q||0.7%||0.7%|
|15:00||USD||CB Consumer Confidence||126.2||124.1|