Newsletter – 9th April 2018

Morning Bulletin

Yesterday

  • Sterling gained on both the euro and US dollar on Friday.
    • GBP/EUR opened at 1.1436 and rallied 0.26% to close at 1.1466 after trading as high as 1.1491 on the day.
    • GBP/USD regained Thursday’s losses after increasing by 0.61% on Friday. The market opened at 1.4002 and closed at 1.4087.
  • Non-farm payrolls from the US came in much lower than expected at 103K vs estimates of 188K. US unemployment rate was also released on Friday and this also came in slightly short of expectations at 4.1% vs 4.0% expected.
  • The ensuing dollar weakness caused EUR/USD to rally from an opening rate of 1.2239 to the closing rate of 1.2279 – an increase of 0.40% on the day.
  • US President Donald Trump stated that there would be a “big price to pay” after a suspected chemical attack by Syria on Douma on Saturday. Syria have denied a chemical attack took place but President Trump has called Syrian President Bashar al-Assad an “animal”. In a tweet on Sunday, Trump stated that Russia and Iran are responsible for backing Assad.
  • Canadian employment change came in better than expected at 32.3K vs 20.1K whilst the employment range met expectations at 5.8%.
  • US average hourly earnings m/m came in as expected at 0.3%,
Overnight
  • A Syrian airbase has been hit with missiles overnight with Syria saying the west were responsible. 
  • US officials have denied that they launch the missile attack stating that “at this time, the Department of Defense is not conducting air strikes in Syria”.
  • GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.8379, 1.9336 and 151.02, respectively.
Today
  • This morning at 8.30am we saw Halifax HPI m/m released – the figure expected was 0.1% but it was better than expected at 1.5%
  • It is a very quiet day today on the data front. We have BOC business survey outlook from Canada at 3.30pm and that is about it until 11pm when we will see NZIER business confidence from New Zealand.

 

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1483 +0.15
GBP/USD 1.4103 +0.12
EUR/USD 1.2279 +0.01
AUD/USD 0.7672 +0.01

 

Time (GMT) Region Data Release Forecast Previous
15:50 CAD BOX Business Outlook Survey    
23:00 NZD NZIER Business Confidence