Previous Day's Market Highlights
Sterling-dollar made further gains above 1.3200, rising to around one-week highs, as euro-dollar inched further above 1.1800. Sterling-euro held below 1.1200.
Markets were relatively quiet yesterday with few items of note on the calendar ahead of the release of the Fed’s September meeting minutes, which provided little new information. Slow inflation remains a concern for many members, although many still see a third rate hike this year. The minutes kept the dollar under pressure.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1165||1.1433||1.1047||3.38%|
|GBP / USD||1.3248||1.3664||1.3027||4.66%|
|EUR / USD||1.1867||1.2033||1.1669||3.03%|
|GBP / NZD||1.8624||1.8742||1.8177||3.01%|
|GBP / CAD||1.6477||1.6798||1.6007||4.71%|
Today's Market Highlights
Investors will keep an eye on Eurozone Industrial Production this morning (10:00 BST) for any surprises. In the afternoon, the US releases Producer Price Index data ahead of tomorrow’s CPI figures (13:30 BST). Investors are looking for signals that inflation will rebound and keep the economy on track for a potential rate hike in December.
Canadian dollar traders will keep an eye on weekly crude oil inventories (16:00 BST). A hawkish central bank and higher oil prices have contributed to recent loonie strength.
ECB President Draghi and Fed member Brainard are to participate in a panel discussion on monetary policy at the Peterson Institute for International Economics (15:30 BST). The Fed’s Powell gives a speech titled “Prospects for Emerging Market Economics in a Normalizing Global Economy” (15:30 BST).
ECB member Praet will speak at the JPMorgan Investor Seminar (15:30 BST). Later in the day, the ECB’s Cœuré will speak in a panel discussion on financial stability at the IMF’s “Rethinking Macro Policy” conference. The BoE's Andy Haldane will also speak at the conference.
Today's Economic Calendar
|10:00||EUR||Industrial Production w.d.a. YoY (Aug)||2.5%||3.2%|
|10:00||EUR||Industrial Production s.a. MoM (Aug)||0.5%||0.1%|
|13:30||USD||Producer Price Index YoY (Sep)||1.1%|
|13:30||USD||Core PPI YoY (Sep)||2.0%||2.0%|
|13:30||USD||Initial Jobless Claims (Sep 29)||1.935M||1.938M|
|13:30||CAD||New Housing Price Index MoM (Aug)||0.3%||0.4%|
|14:00||GBP||MPC Member Haldane Speaks|
|15:30||USD||Fed Member Brainard Speaks|
|15:30||USD||Fed Member Powell Speaks|
|15:30||EUR||ECB President Draghi Speaks|
|15:30||EUR||ECB's Praet Speaks|
|16:00||USD||EIA Crude Oil Inventories (Oct 6)||-1.991M||-6.023M|
|21:00||EUR||ECB's Coeure Speaks|