Previous Day's Market Highlights
Last week GBP/USD made a recovery of nearly half a percent, after a spokesman for the PM confirmed that David Davis is not resigning. All eyes remained on the G7 gathering in Quebec which happened over the weekend; the gathering ended with Trump clashing with allies via Twitter, undermining the bloc and potentially causing fresh friction over trade.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
Sterling has opened slightly higher against the dollar this morning ahead of UK manufacturing production data at 09.30. GBP/USD is up 0.3% since close of play Friday, currently trading at 1.3430. UK manufacturing production is forecasting a 0.3% increase after falling by 0.1% in the previous month. Aside from that, Monday’s calendar remains fairly quiet, with investors looking towards UK average earnings and CPI data scheduled for release on Tuesday and Wednesday respectively.
Economic data is largely overshadowed by the hat-trick of central bank meetings, as the FOMC, ECB and BOJ all meet this week. With the probability of a US rate hike now all but a certainty, investors will be looking for further guidance surrounding timing of future interest rate increases. With regards to the ECB, any discussions surrounding the tapering of their QE programme is likely to stimulate volatility.
Today's Economic Calendar
|09:00am||EUR||Italian Industrial production||-0.7%||1.2%|
|09:30am||GBP||Construction Output (m/m)||2.4%||-2.3%|
|09:30am||GBP||Industrial production (m/m)||0.1%||0.1%|