Newsletter – 30th April 2019

Morning Bulletin

Yesterday

  • 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.
Overnight
  • 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.
Today
  • 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
GBP/EUR 1.1579 +0.16
GBP/USD 1.2959 +0.21
EUR/USD 1.1189 +0.04
AUD/USD 0.7044 -0.16

 

Time (GMT) Region Data Release Forecast Previous
10:00 EUR Prelim Flash GDP q/q 0.3% 0.2%
13:30 CAD GDP m/m 0.3%
13:30 CAD RMPI m/m 4.6%
13:30 USD Employment Cost Index q/q 0.7% 0.7%
14:45 USD Chicago PMI 59.1 58.7
15:00 USD CB Consumer Confidence 126.2 124.1