- Chancellor of the Exchequer Philip Hammond said yesterday that leaving the EU will result in an economic cost but PM May’s plan helps minimise that cost. He said the renegotiating the deal was not a possibility and that the only options on the table are May’s deal, no-deal Brexit or no Brexit.
- Theresa May told BBC Radio 4 that she is ‘talking to colleagues’ about their concerns over the Northern Ireland backstop ahead the the parliament vote on her Brexit deal.
- Sterling gained 0.15% on the euro yesterday with the GBP/EUR market opening at 1.1220, trading a high of 1.1250, a low of 1.1203 and closing at 1.1237.
- GBP/USD rallied by 0.37% with open, high, low and close rates of 1.2732, 1.2810, 1.2699 and 1.2779, respectively.
- US ADP non-farm employment change came in weaker than estimates at 179K vs 195K.
- Canadian trade balance also came in weaker than expected at -1.2B vs -0.7B.
- US ISM non-manufacturing PMI came in stronger at 60.7 vs 59.1 expected.
- Japanese average cash earnings y/y came in better than expected at 1.5% vs 1.0%.
- GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.7660, 1.8539 and 143.90, respectively.
- We expect employment data from Canada at 1.30pm.
- At the same time we will see the release of average hourly earnings m/m, non-farm employment change and unemployment rate from the US.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||USD||Average Hourly Earnings m/m||0.3%||0.2%|
|13:30||USD||Non-farm Employment Change||198K||250K|