Previous Day's Market Highlights
Sterling fell sharply on Friday after Prime Minister May put the ball in the EU’s court to come up with the next set of proposals, outlining the points on which the UK would not compromise. This extended earlier losses after reports from the Salzburg summit that the EU had rejected the UK’s Chequers proposals. Sterling’s weakness at the end of the week reversed previous gains made on above-forecast CPI and Retail Sales data.
The pound fell from Thursday’s peak just shy of 1.33 to below 1.31 against the dollar and below 1.12 against the euro. It fell below 1.69 against the Canadian dollar from above 1.71 earlier in the day. The Canadian dollar also benefited from some above-forecast Retail Sales and CPI figures. Euro-dollar pulled back from 1.18, its highest levels since mid-June.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
The calendar gets off to a quiet start today, which will leave market attention on the latest Brexit and trade headlines. Barring any significant headlines, exchange rates may remain around current levels.
Looking further ahead in the week, items of note include trade date from New Zealand on Tuesday; policy announcements from the Fed and the RBNZ on Wednesday, which will likely include a rate hike from the Fed and a hold from the RBNZ; US GDP and Durable Goods Orders on Thursday; and UK GDP and Eurozone inflation on Friday.
Today's Economic Calendar
|13:30||USD||Chicago Fed National Activity Index (Aug)||0.02||0.13|
|00:50||JPY||BoJ Meeting Minutes|
|00:50||JPY||BoJ Governor Kuroda Speaks|