Previous Day's Market Highlights
Sterling came under pressure yesterday after Manufacturing PMI disappointed. The dollar was better bid against both the euro and the pound. Sterling-dollar fell back below 1.3000 and euro-dollar fell below 1.1400. Sterling-euro traded either side of 1.1400, briefly breaking towards 1.1420.
The Eurozone’s Unemployment Rate held at 9.3% versus forecasts of 9.2%. The dollarstrengthened as the ISM Manufacturing PMI jumped to 57.8 from 54.9.
The RBA kept interest rates on hold at 1.5% as expected. The Aussie fell as the RBA did not join other central banks in taking a more hawkish tone, referencing concerns over levels of household debt. This followed an above-forecast Retail Sales release.
The Japanese yen rallied overnight as a safe haven after North Korea reportedly fired an intercontinental ballistic missile.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1392||1.1572||1.1261||2.69%|
|GBP / USD||1.2955||1.3031||1.2589||3.39%|
|EUR / USD||1.1372||1.1446||1.1119||2.86%|
|GBP / NZD||1.7779||1.8131||1.7338||4.37%|
|GBP / CAD||1.6810||1.7536||1.6721||4.64%|
Today's Market Highlights
Today’s releases include UK Construction PMI (09:30 BST), which tends to have the least significant market impact. For the euro, attention will be on the Producer Price Index (10:00 BST) and speeches from the ECB’s Praet and Mersch (13:30, 16:40 BST).
Commodity currency traders will keep an eye on the Global Dairy Trade Price Index and Canada’s Manufacturing PMI (14:30 BST).
Today is Independence Day in the US.
Today's Economic Calendar
|09:30||GBP||Markit Construction PMI (Jun)||55.0||56.0|
|10:00||EUR||Producer Price Index MoM (May||-0.2%||0.0%|
|10:00||EUR||Producer Price Index YoY (May)||3.5%||4.3%|
|13:30||EUR||ECB's Praet Speaks|
|14:30||CAD||Markit Manufacturing PMI (Jun)||55.1|
|NZD||Global Dairy Trade Price Index||-0.8%|
|16:40||EUR||ECB's Mersch Speaks|