- Sterling gained value against the euro and US dollar yesterday.
- GBP/EUR opened at 1.1094 and closed 1.1120 representing an increase of 0.23% on the day.
- GBP/USD opened at 1.2903 and closed at 1.2926 representing a 0.18% increase on Thursday.
- From the US ADP non-farm employment change came in weaker than expected at 163K vs 195K expected.
- ISM non-manufacturing PMI came in slightly better than expected at 58.5 vs 56.8.
- Crude oil inventories came in at -4.3m vs -2.2m expected.
- According to the BBC, the EU has cast doubt on claims that is chief negotiator Michel Barnier described the government’s Brexit plan as ‘dead in the water’. Labour MP Stephen Kinnock attributed the remarks to Barnier however the EU Commission spokesman Margartis Schinas urged journalists to wait for a transcript to be published.
- Average cash earnings y/y from Japan came in weaker than expected at 1.5% vs 2.4%.
- GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.8076, 1.9659 and 143.15.
- We have a raft of data from Canada and the USD today.
- From Canada we have employment change and unemployment rate data at 1.30pm.
- From the US we have average hourly earnings m/m, non-farm employment change and unemployment rate at 1.30pm.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||USD||Average Hourly Earnings m/m||0.2%||0.3%|
|13:30||USD||Non-farm Employment Change||191K||157K|