Newsletter – 3rd April 2019

Morning Bulletin

Yesterday

  • Prime Minister Theresa May is to meet with Labour leader Jeremy Corbyn in an attempt to put together a deal that will have the backing of the House of Commons.
  • If they fail to agree on a single unified approach then multiple options will be agreed on and voted on by the House of Commons.
  • Conservative Brexiteer Boris Johnson accused Mrs May of “entrusting the final handling of Brexit to Labour” and Jacob Rees-Mogg described her actions as “deeply unsatisfactory” 
  • Mr Corbyn said he was very happy to meet the Prime Minister and recognised his responsibility to try to break the deadlock.
  • Mrs May also said a short extension beyond 12 April will be needed and requested by the UK.
  • GBP/EUR opened at 1.1649, traded a high of 1.1736, a low of 1.1618 and closed at 1.1718 representing a 0.57% increase on the day.
  • GBP/USD opened at 1.3101, traded a high of 1.3149, a low of 1.3013 and closed at 1.3133 representing a 0.25% increase.
  • Core durable goods orders m/m from the US came in at 0.1% vs 0.3% and durable goods orders m/m came in at -1.6% vs -1.1% expected.
Overnight
  • Australian retail sales m/m came in better than expected at 0.8% vs 0.3%.
  • Australian trade balance came in at 4.80B vs 3.71B.
  • From China, Caixin services PMI came in at 54.4 vs 52.3.
Today
  • At 9.30am we expect services PMI from the UK.
  • At 1.15pm we will see ASP non-farm employment change from the US with ISM non-manufacturing PMI 
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1716 -0.02
GBP/USD 1.3166 +0.25
EUR/USD 1.1239 +0.31
AUD/USD 0.7117 +0.66

 

Time (GMT) Region Data Release Forecast Previous
09:30 GBP Services PMI 51.0 51.3
13:15 USD ADP Non-farm employment change 184K 183K
15:00 USD ISM non-manufacturing PMI 58.1 59.7