Previous Day's Market Highlights
A slow-down in production data added to pressure on the pound amidst renewed concerns over the government’s internal political discord and Brexit negotiation disagreements as emphasised by Barnier, who said that a transition period was “not a given”. Sterling-euro fell towards 1.1260 and sterling-dollar dipped below 1.38, down from post BoE highs above 1.14 and 1.40, respectively, with cable down from above 1.41 at the start of the week.
The Canadian dollar briefly weakened against the pound on Friday after jobs data disappointed. The Unemployment Rate rose more than expected, from 5.7% to 5.9%, whilst Net Employment Change contracted 88.0K.
Equities had a turbulent week, coming under pressure on expectations of rising inflation and less accommodative monetary policy. US stocks entered correction territory.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
A relatively quiet calendar means market movement may again be driven by equities and Brexit headlines. MPC Members Vlieghe (09:30 GMT) and McCafferty (16:30 GMT) are amongst the day’s speakers and will be speaking on household debt and the economic outlook, respectively. RBA Assistant Governor Ellis will speak on Australia’s economic outlook this evening (21:50 GMT).
Tomorrow, attention turns to the UK’s CPI data, while US CPI and UK and US Retail Sales figures will be in focus later in the week, along with the second estimate of Q4 Eurozone GDP. The government is to deliver multiple speeches over the coming weeks that will outline the future relationship between the UK and the EU.
Today's Economic Calendar
|09:30||GBP||MPC Member Vlieghe Speaks|
|16:30||GBP||MPC Member McCafferty Speaks|
|19:00||USD||Monthly Budget Statement (Jan)||$51B||$-23B|
|21:50||AUD||RBA Assistant Governor Ellis Speech|