Previous Day's Market Highlights
The Canadian dollar retained its strength against the pound yesterday following Friday’s above-forecast employment data and on speculation that the Bank of Canada may hike interest rates tomorrow from 0.50% to 0.75%. If the Bank instead holds steady and disappoints market expectations, the loonie may weaken.
The New Zealand dollar fell overnight on reports of an earthquake hitting off New Zealand’s South Island.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1307||1.1469||1.1261||1.81%|
|GBP / USD||1.2879||1.3031||1.2589||3.39%|
|EUR / USD||1.1390||1.1446||1.1119||2.86%|
|GBP / NZD||1.7813||1.7881||1.7338||3.04%|
|GBP / CAD||1.6602||1.6996||1.6554||2.60%|
Today's Market Highlights
The calendar picks up slightly today although the main events kick off tomorrow with UK employment data, the Bank of Canada’s interest rate decision, and Fed Chair Yellen’s testimony on the Fed’s Semiannual Monetary Policy Report.
Attention today will primarily be on central bankers as markets keep an eye out for any hints as to the direction of monetary policy.
MPC Member Haldane participates in a panel discussion at the Essentials of Numeracy launch event (11:00 BST). Haldane has typically been a more dovish member, but last month struck a more hawkish tone, prompting a sterling rally. MPC Member Broadbentspeaks at the Scottish Council for Development and Industry (12:00 BST).
In the afternoon, Fed Member Brainard speaks about normalising central banks’ balance sheets (17:30 BST). Fed Member Kashkari speaks at 18:20. The Fed meets next on 26 July.
Canadian Housing Starts (13:15 BST) may be in sharper focus ahead of a possible interest rate hike tomorrow.
Today's Economic Calendar
|11:00||GBP||MPC Member Haldane Speaks|
|12:00||GBP||MPC Member Broadbent Speaks|
|13:15||CAD||Housing Starts s.a. YoY (Jun)||201.5K||194.7K|
|15:00||USD||JOLTS Job Openings (May)||5.890M||6.044M|
|17:30||USD||Fed Member Brainard Speaks|
|18:20||USD||Fed Member Kashkari Speaks|
|01:30||AUD||Westpac Consumer Confidence (Jul)||-1.8%|