Previous Day's Market Highlights
Sterling proved vulnerable to Trump’s comments on Friday, falling into the morning session after Trump criticised Prime Minister May’s Brexit approach, only to recover ground heading into the afternoon after Trump backed down from earlier criticism and said a trade deal with the UK is still possible.
Sterling-dollar recovered 1.32 and sterling-euro continued to trade either side of 1.13, little changed from the start of the week. A softer dollar enabled euro-dollar to recover some of its morning losses when the dollar caught a bid tone.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
Eurozone trade data is expected to show a slightly wider trade surplus (10:00 BST), but the overall currency impact may be relatively limited. In the afternoon, slower Retail Sales growth in June could weigh on the US dollar (13:30). New Zealand releases quarterly CPI in the evening, with inflation forecast to remain at 0.5% quarter-on-quarter but pick up at year-on-year. Investors will also keep an eye on any headlines from today’s Trump/Putin summit. Overall, exchange rates may continue to trade in familiar ranges.
Later in the week, highlights include UK labour market and inflation data, Fed Chair Powell’s semi-annual testimony, final Eurozone CPI, UK Retail Sales, and Canadian CPI and Retail Sales. Attention will also remain on the latest trade and Brexit headlines.
Today's Economic Calendar
|1:30pm||USD||Retail Sales MoM (Jun)||0.5%||0.8%|
|1:30pm||USD||Core Retail Sales MoM (Jun)||0.4%||0.9%|
|1:30pm||CAD||Foreign Securities Purchases (May)||$7.03B||$9.13B|
|11:45pm||NZD||Consumer Price Index YoY (Q2)||1.6%||1.1%|
|11:45pm||NZD||Consumer Price Index QoQ (Q2)||0.5%||0.5%|
|2:30am||AUD||RBA Meeting Minutes|