Newsletter – 7th June 2017

Morning Bulletin

Yesterday

  • There was a real lack of data released yesterday, particularly in the morning session, with just a few low key Eurozone figures to digest:
    • Retail PMI 52.0 (52.7 Previous)
    • Sentix Investor Confidence 28.4 (27.6 Exp)
    • Retail Sales m/m 0.1% (0.2%)
  • Perhaps unsurprisngly we saw Sterling sold off a fraction throughout the morning as pre-election jitters continue to impact the Pound.
  • US JOLTS Job openings hit a record high of 6.04 Millionyesterday afternoon, against expectations of 5.65 Million for the month of May.
  • This print however was not enough to stop the US Dollar Index dropping to a fresh 7 month low.
  • New Zealand Global Dairy Trade Price Index rose once again over the previous fortnight. The increase of 0.6%, comes off the back of a rise of 3.2% previously and represents the 6th consecutive gain of this reading.
  • Canadian Ivey PMI 53.8 (62.0 Exp).
Overnight

  • Both the Aussie and Kiwi Dollars are firmly on the front foot this morning following some encouraging data releases overnight and this morning:
    • New Zealand Manufacturing Sales q/q 2.8% (0.3% Exp)
    • Australia GDP q/q 0.3% (0.2% Exp)
    • Australia AIG Construction Index 56.7 (51.9 Previously)
  • German Factory Orders m/m -2.1% (-0.2% Exp)
  • UK Halifax HPI m/m (-0.2% Exp)
  • UK ELECTIONS: Opinium Poll: Tories 43% (-) vs Labour 36% (-1)
  • According to Reuters, the UK Ashcroft Elector Model would suggest the Conservatives will land a 64 seat majority, up from 60 previously.
Today
  • Incredibly sparse data calendar today.

 

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1459 +0.15
GBP/USD 1.2896 -0.09
EUR/USD 1.1253 -0.20
AUD/USD 0.7547 +0.55

 

Time (GMT) Region Data Release Forecast Previous
10.00 EUR Italian Retail Sales m/m 0.2% 0.0%
10.00 ROW OECD Economic Outlook
13.30 CAD Building Permits m/m 2.4% -5.8%
20.00 USD Consumer Credit m/m 15.2Bn 16.4Bn