- GBP/EUR came off by 0.83% yesterday after opening at 1.1480 and closing 1.1385.
- German retail sales came in far better than expected at 2.3% vs 0.5% expected and German preliminary CPI m/m also came in better than expected 0.5% vs 0.3%.
- Spanish flash CPI y/y came in at 2.0% vs 1.7%.
- Sterling gained on the US dollar by just over one quarter of a percent after opening at 1.3249 and closing 1.3284.
- The Canadian dollar rose broadly following a hawkish Bank of Canada statement yesterday whereby the Bank of Canada held rates at 1.25% but teed up markets for July hike.
- GBP/CAD fell to its lowest level since January briefly trading a low of 1.7054.
- Canadian current account data came in at -19.5B vs -18.1B expected and RMPI m/m came in at 0.7% vs 2.1% expected.
- Preliminary GDP q/q from the US came in at 2.2% vs 2.3%. ADP non-farm employment change came in weaker than expected at 178K vs 191K expected.
- Chinese manufacturing PMI came in stronger than expected at 51.9 vs 51.4.
- Non-manufacturing PMI from China came in at 54.9 which was the figure expected.
- Australian private capital expenditure q/q came in weaker than expected at 0.4% vs 0.8%.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading at 1.7585, 1.9061 and 145.18.
- UK net lending to individuals m/m came in at 5.7B vs 5.2B.
- We expect Eurozone CPI flash estimate y/y and core CPI flash estimate y/y with estimated figures of 1.6% and 1.0%, respectively.
- We expect Canadian GDP m/m at 1.30pm alongside US personal spending m/m and unemployment claims.
- Following that we have Chicago PMI at 2.45pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|10:00||EUR||CPI Flash Estimate y/y||1.6%||1.2%|
|10:00||EUR||Core CPI Flash Estimate y/y||1.0%||0.7%|
|13:30||USD||Personal Spending m/m||0.4%||0.4%|