Previous Day's Market Highlights
Sterling picked up as the week kicked off, regaining 1.1000 against the euro for the first time since 17 August. Cable again tested 1.3200, before the dollar regained ground in the afternoon session. The dollar’s afternoon bid tone also saw it gain against the euro, pushing the rate back below 1.2000 to its lowest levels since Thursday.
The House of Commons passed the EU Withdrawal Bill last night in its second vote. It now goes to the committee stage.
The New Zealand dollar jumped this morning as the latest poll results showed the National Party up 4% to 47.3%. New Zealand holds elections on 23 September.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1015||1.1043||1.0745||2.70%|
|GBP / USD||1.3193||1.3225||1.2777||3.39%|
|EUR / USD||1.1975||1.2093||1.1662||3.56%|
|GBP / NZD||1.8115||1.8266||1.7522||4.07%|
|GBP / CAD||1.5948||1.6519||1.5837||4.13%|
Today's Market Highlights
The main release of the day is this morning’s UK August CPI figure (09:30 BST). Inflation is projected to have accelerated to 2.8% last month, approaching May’s high of 2.9%.
Inflation gains may see the pound strengthen as an acceleration could reignite speculation that the Bank of England may take a more hawkish tone sooner than previously anticipated. However, the Bank is likely to keep policy on hold for the time being.
The US releases JOLTS Job Openings, which typically has a muted market impact (15:00 BST).
The UK releases employment data tomorrow, whilst the Bank of England announces its latest policy decision on Thursday.
Today's Economic Calendar
|09:30||GBP||Core Consumer Price Index YoY (Aug)||2.5%||2.4%|
|09:30||GBP||Consumer Price Index YoY (Aug)||2.8%||2.6%|
|15:00||USD||JOLTS Job Openings (Jul)||5.960M||6.163M|
|01:30||AUD||Westpac Consumer Confidence (Sep)||-1.2%|