A quiet day ahead before ECB meeting tomorrow

Sterling saw its worst performance against the dollar yesterday since June’s election day, falling around 1% as a mix of strong manufacturing data from the USD coupled with poor UK manufacturing PMI results weighed heavy on the currency.

Previous Day's Market Highlights

Sterling saw its worst performance against the US dollar yesterday since June’s election day, falling around 1% as a mix of strong manufacturing data from the USD coupled with poor UK manufacturing PMI results weighed heavy on the currency.

Meanwhile, events in Catalonia continue to call in to question the status of the euro as a haven from geo-political risk and as such has acted as a drag on the euro with it falling to a low yesterday of 1.1722 against the US dollar.

Currency Pairing 08:00 Today Vs 08:00 Yesterday Four-Week High Four-Week Low % Change
GBP / EUR 1.1317 1.1417 1.0836 4.43%
GBP / USD 1.3268 1.3664 1.2916 2.65%
EUR / USD 1.1735 1.2093 1.1718 0.14%
GBP/AUD 1.6956 1.7050 1.6165 5.19%
GBP / NZD 1.8545 1.8742 1.7916 3.51%
GBP / CAD 1.6612 1.6728 1.5837 5.33%

Today's Market Highlights

We begin today with key UK Construction PMI data (9:30am), where experts believe the figure will hold firm at 51.1, its lowest level since 2016.  Any signs of slowdown will add to the current weakness in the pound. 

In the afternoon session FOMC member Jerome Powell is expected to speak (13:30pm) about regulatory reform at an event in Washington, where we expect investors will be waiting in anticipation.  They will be looking for take always regarding policy.  

Today's Economic Calendar

Time Currency Release Consensus Previous
09:30 GBP Final Purchasing PMI 51 51.1
10:00 EUR Producer Price Index 0.1% 0%