Britain Begins Brexit

With a quiet economic calendar, Friday didn’t create much of a stir. Cable traded within the 1.2750 to 1.2800 range and GBP/EUR fell slightly from 1.1468 to 1.1405 by the close of play.

Previous Day's Market Highlights

With a quiet economic calendar, Friday didn’t create much of a stir. Cable traded within the 1.2750 to 1.2800 range and GBP/EUR fell slightly from 1.1468 to 1.1405 by the close of play.

The Bank of Japan maintained its monetary policy stance by holding interest rates at -0.1%, in line with expectations. This came two days after the federal reserve raised interest rates for the third time in six months.

Today's Market Highlights

David Davis starts the negotiations to leave the EU on behalf of the UK in Brussels today. A deal with the DUP is still not done for Britain’s premier, and it was thought this would put a halt to negotiations, but Theresa has tried to maintain some sense of order by continuing with the negotiations as planned. The Queen’s speech, originally scheduled for today, has been put back to the 21st.
 
Not a very busy week for data, aside for some monetary policy meetings for Japan, Australia, and New Zealand, with an interest rate decision for the former, and CPI data at the end of the week from Canada.

Today's Economic Calendar

Time Currency Release Consensus Previous
10:00 EUR Construction Output (YoY) (Apr) 3.6%
10:00 EUR Construction Output (MoM) (Apr) -1.1%
13:00 USD Fed's William Dudley Speech
GBP Brexit Negotiations
21:30 AUD RBA Meeting's Minutes