Previous Day's Market Highlights
Euro weakness yesterday saw GBP/EUR regain 1.13 for the first time this year, its highest levels since 19 December. Sterling saw some positive sentiment as the government announced a cabinet reshuffle. EUR/USD continued to pull back from last week’s highs above 1.20.
The economic calendar was light. Of note, Eurozone Consumer Confidence came in unchanged at 0.5, as expected, while Retail Sales were higher than forecast in November.
Today's Market Highlights
The dollar has seen a bid tone this morning, pushing GBP/USD and EUR/USD lower towards 1.35 and 1.19, respectively. US data is mostly low-level, but Fed member Kashkari will speak this afternoon. Kashkari tends to lean towards the dovish end of the spectrum and has expressed concerns over raising rates too quickly whilst inflation is low.
This morning, a further dip in the Eurozone’s Unemployment Rate could strengthen the euro. Tomorrow is the main data day for the UK, which releases Manufacturing and Industrial Production data.
Today's Economic Calendar
|10:00||EUR||Unemployment Rate (Nov)||8.7%||8.8%|
|13:15||CAD||Housing Starts s.a. YoY (Dec)||212.5K||252.2K|
|15:00||USD||JOLTS Job Openings (Nov)||6.038M||5.996M|
|15:00||USD||Fed's Kashkari Speaks|