Previous Day's Market Highlights
There was a subdued tone to financial markets yesterday, this partly reflected a lack of major data/events over the past 24 hours.
The dollar resumed its downward trend yesterday, with the market pushing back up to the pre-Brexit highs. The currency was not helped by concerns a congressional impasse may result in a government ‘shutdown’. Meantime, there was no further pressure on the euro, after less hawkish sounding ECB comments pushed it lower on Wednesday.
In level terms, the weaker tone to the dollar saw the EUR/USD pair push above 1.22. Cable (GBP/USD) opens this morning up near its post-Brexit vote high, just above 1.3900.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
In the morning session we start proceedings with UK Retail Sales data m/m (9.30am), forecasted to show a -0.8% change. If correct we could a downtick on the improved levels we have seen over the last two days.
In the afternoon session we have the release of Canadian Manufacturing Sales m/m (1.30pm), which is expected to rise by 1.9%. This will then be followed by US Prelim UoM Consumer Sentiment (3pm) and a Speech by FOMC Quarles (5.15pm).
Today's Economic Calendar
|09:30||GBP||Retail Sales ex-Fuel (MoM) (Dec)||-0.8%||1.2%|
|09:30||GBP||Retail Sales ex-Fuel (YoY) (Dec)||3.0%||1.5%|
|09:30||GBP||Retail Sales (YoY) (Dec)||3.0%||1.6%|
|09:30||GBP||Retail Sales (MoM) (Dec)||-0.6%||1.1%|
|13:30||CAD||Canadian portfolio investment in foreign securities (Sep)|
|17:15||USD||Fed's Quarles speech|