Previous Day's Market Highlights
Sterling held below 1.13 against the euro and 1.34 against the dollar. US GDP was revised down from 3.3% to 3.2% in Q3. Preliminary data showed that Eurozone Consumer Confidence rose more than forecast to 0.5 points, a nearly 17-year high.
The euro came under pressure overnight after pro-independence parties won a majority in Catalonia’s regional elections, but reversed some of those losses this morning.
The Canadian dollar rose after data surprised to the upside. November CPI accelerated to 2.1% from 1.4% in October, whilst Retail Sales jumped 1.5%. The Canadian dollargained over 0.6% against the pound, briefly pushing the GBP/CAD rate below 1.70.
The FTSE 100 hit a record high above 7,600 yesterday as mining and energy stocks gained.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1289||1.1509||1.1133||3.27%|
|GBP / USD||1.3380||1.3550||1.3220||2.44%|
|EUR / USD||1.1852||1.1961||1.1717||2.04%|
|GBP / NZD||1.9070||1.9836||1.9029||4.07%|
|GBP / CAD||1.7048||1.7468||1.6920||3.14%|
Today's Market Highlights
The calendar today includes the final estimate of Q3 UK GDP (09:30 GMT), with no revisions expected, and Total Business Investment figures, again with no revisions expected. This may have a muted impact on the pound.
In the afternoon, the US releases Durable Goods Orders and Personal Consumption Expenditures (13:30 GMT). Gains in these figures could strengthen the dollar.
The calendar is fairly quiet next week, given the holidays, but there are a few US releases expected: the S&P/Case-Shiller Home Price Indices on Tuesday, Pending Home Sales on Wednesday, and weekly Initial Jobless Claims on Thursday.
Please note that this is the final daily report until 2 January 2018. Have a Happy Christmas and New Year.
Today's Economic Calendar
|09:30||GBP||GDP YoY (Q3)||1.5%||1.5%|
|09:30||GBP||GDP QoQ (Q3)||0.4%||0.4%|
|09:30||GBP||Total Business Investment YoY (Q3)||1.3%||1.3%|
|13:30||USD||Personal Consumption Expenditures - Price Index YoY (Nov)||1.7%||1.6%|
|13:30||USD||Core Personal Consumption Expenditures - Price Index YoY (Nov)||1.5%||1.4%|
|13:30||USD||Personal Income MoM (Nov)||0.4%||0.4%|
|13:30||USD||Personal Spending (Nov)||0.5%||0.3%|
|13:30||USD||Durable Goods (Nov)||2.0%||-0.8%|
|13:30||USD||Core Durable Goods (Nov)||0.5%||0.9%|
|13:30||CAD||GDP MoM (Oct)||0.2%||0.2%|
|14:00||USD||Michigan Consumer Sentiment Index (Dec)||97.1||96.8|
|15:00||USD||New Home Sales MoM (Nov)||0.654M||0.685M|