- GBP/USD fell by 0.36% yesterday after opening at 1.2637, trading a high of 1.2648, a low of 1.2584 and closing at 1.2592.
- GBP/EUR fell by 0.38% on Tuesday after opening at 1.1193, trading a high of 1.1209, a low of 1.1145 and closing at 1.1152.
- Chancellor Philip Hammond signalled he would be prepared to vote against a no-deal Brexit yesterday claiming it could cost the UK up to £90bn.
- The US increased import duties on Vietnam steel by more than 400%.
- Jeremy Hunt has said the UK backstop has to “change or go” whereas Boris Johnson said has said that the backstop leaves the UK with an “unacceptable choice” between “abandoning the ability to govern ourselves” or to “give up control of the government of Northern Ireland”.
- Europe decided on leadership for its top jobs yesterday with IMF’s Christine Lagarde nominated to succeed outgoing ECB President Mario Draghi.
- Australian Building Approvals m/m came in at 0.7% vs 0.0% expected yesterday and trade balance came in better than expected at 5.75B vs 5.25B.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.7967 (-0.21%), 1.8816 (-0.27%), and 135.39 (-0.34%), respectively.
- We have services PMI from the UK at 9.30 before ADP non-farm employment change at 1.15pm.
- Shortly after that we expected trade balance data from Canada and at 3pm we will see ISM non-manufacturing PMI from the US.
- Boris Johnson has promised to review all ‘sin taxes’ such as the sugar tax should he become prime minister and will not add any more until the review proves its effectiveness.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:15||GBP||ADP non-farm employment change||140K||27K|
|15:00||USD||ISM non-manufacturing PMI||56.1||56.9|