Previous Day's Market Highlights
The dollar was sold off again overnight, following mixed economic releases during the day. Industrial Production surprised to the downside, while the Producer Price Index rose, signalling rising price pressures. Sterling-dollar regained 1.41 and euro-dollar inched up to a new three-year high above 1.2550.
Sterling-euro continued to hold within the 1.12-1.13 range as it has for the past week, barring a test of 1.13 on Monday.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
The UK’s Retail Sales are in focus this morning as the next key release for the pound(09:30 GMT). Sterling could pick up if Sales increase more than forecast, a positive amidst concerns about slower Q1 growth, but the release could otherwise see sterling weakness.
In the afternoon, US housing data and Canadian Foreign Securities Purchases will be in focus (13:30 GMT). The US dollar will be in particular focus as the week draws to a close given its recent weakness.
Looking ahead to next week, highlights include UK wage and employment data on Wednesday, the next estimate of Q4 UK GDP, the Fed meeting minutes, the ECB meeting accounts, and final Eurozone CPI.
Today's Economic Calendar
|09:30||GBP||Retail Sales MoM (Jan)||0.5%||-1.5%|
|09:30||GBP||Core Retail Sales MoM (Jan)||0.6%||-1.6%|
|09:30||GBP||Retail Sales YoY (Jan)||2.5%||1.4%|
|09:30||GBP||Core Retail Sales YoY (Jan)||2.4%||1.3%|
|13:30||USD||Housing Starts MoM (Jan)||1.234M||1.192M|
|13:30||USD||Building Permits MoM (Jan)||1.300M||1.302M|
|13:30||CAD||Foreign Securities Purchases (Dec)||$19.18B||$19.56B|
|15:00||USD||Michigan Consumer Sentiment Index (Feb)||95.5||95.7|