Previous Day's Market Highlights
Markets were short of hard data to drive movement; however, the dollar has been somewhat firmer over the previous 24 hours, rising versus both sterling and euro. The yen was also lifted, and the environment remains broadly risk-off amid growing geopolitical concerns. The euro faces medium-term headwinds from the German election result. The two dominant parties, CDU & SPD previously steadfast coalition allies, are still discounting a future coalition.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1410||1.1417||1.0745||5.89%|
|GBP / USD||1.3494||1.3664||1.2777||6.49%|
|EUR / USD||1.1812||1.2093||1.1773||2.65%|
|GBP / NZD||1.8659||1.8742||1.7684||5.65%|
|GBP / CAD||1.6687||1.6728||1.5837||5.33%|
Today's Market Highlights
Fed Chair Yellen speaks this afternoon (17:45 BST). Yellen will deliver a speech titled “Inflation, Uncertainty, and Monetary Policy" at the National Association for Business Economics Annual Meeting. Her comments will be closely watched for any subtle clues regarding future monetary policy.
The only event of note for sterling today is the High Street Lending data release (9:30 BST), this measures the number of new mortgages approved for August (MoM). Attention is primarily on Thursday’s Speech from Bank of England Governor Carney and the Current Account data on Friday.
Other data this afternoon is the US New Home Sales figure (15:00 BST) forecast at 585kversus a previous figure of 571k. This is a leading indicator of economic health due to the wide-reaching implications of the property market.
Today's Economic Calendar
|9:30||GBP||BBA Mortgage Approvals (Aug)||41.700K||41.587K|
|n/a||EUR||Emmanuel Macron Speech||85m|
|13:00||EUR||ECBs Praet Speech||85m|
|14:00||USD||S&P/Case-Shiller Home Price Indicies (YoY) (Jul)||5.8%||5.7%|
|14:30||USD||FOMC Member Master speech|
|15:00||USD||New Home sales Change (MoM) (Aug)||3.3%||-9.4%|
|17:45||USD||Feds Yellen Speech|