Newsletter – 8th June 2018

Morning Bulletin


  • GBP/EUR opened at 1.1389 and traded a low of 1.1316 before mostly recovering to close at 1.1373 on the day – a loss of 0.15%.
  • The UK government unveiled their proposal for the Irish border backstop which should come to an end by December 2021. However, EU diplomats are said to be dismissive of the UK’s proposal describing it as backtracking.
  • Irish PM Varadkar said the Irish border is not something that can be limited by a date.
  • GBP/USD opened at 1.3411 and proceeded to trade a high of 1.3472, a low of 1.3371 and closed at 1.3422.
  • US unemployment claims came in roughly as expected at 222K vs 223K.
  • Canadian PM Trudeau said Canada will defend it’s industries hit by US tariffs.
  • Chinese trade balance came in at 157B vs 238B expected.
  • GBP/AUD, GBP/NZD and GBP/JPY are trading at 1.7690, 1.9120 and 146.82.
  • The G7 meetings continue today in Quebec.
  • At 1.30pm we have employment change and unemployment rate from Canada.
Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1392 +0.17
GBP/USD 1.3401 -0.15
EUR/USD 1.1763 -0.29
AUD/USD 0.7578 -0.60


Time (GMT) Region Data Release Forecast Previous
ALL ALL G7 Meetings
13:30 CAD Employment Change 19.1K -1.1K
13:30 CAD Existing Home Sales 5.8% 5.8%