Previous Day's Market Highlights
The US dollar found broad based support last week, as further details emerge on the proposed tax reforms & fiscal stimulus program. There were no seismic shifts in either EUR or GBP, although the pound softened on weaker GDP figures towards the end of the week. In level terms the week starts off with GBP/EUR changing hands 1.1350, GBP/EUR trading at around the 1.33 mark and EUR/USD currently sits at approximately 1.17.
Over the weekend, the euro’s status as a political haven appears to be in question, as the Spanish police’s heavy handed response to the unconstitutional Catalan referendum may play into the hands of the independence movement. In UK politics, Theresa May’sleadership appears to again be in question, as senior Tories sharpen their knives once more. She announced an extension of the help to buy scheme and a tuition fee cap in an obvious move to appeal to the younger voter. Phillip Hammond came out in support, however Boris continues to make noise over Brexit and fractures in the cabinet reappear.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1353||1.1417||1.0745||5.89%|
|GBP / USD||1.3330||1.3664||1.2777||6.49%|
|EUR / USD||1.1742||1.2093||1.1773||2.65%|
|GBP / NZD||1.8570||1.8742||1.7684||5.65%|
|GBP / CAD||1.6684||1.6728||1.5837||5.33%|
Today's Market Highlights
The euro will be the main focus this morning, with a series of Euro Manufacturing PMI and Italian Monthly Unemployment data being released before 9am. Positive releases could lead to euro strength this morning.
There is a light day for economic data in the UK, with Manufacturing PMI data at 9.30am. It’s expected to come out at 56.3 ahead of the previous month’s 56.9.
This afternoon, attention will turn to the US dollar with ISM Manufacturing PMI and ISM Manufacturing prices data being released at 3pm. This is forecasted to come out at 57.9 and 64.5 respectively.
After close in Europe today, FOMC member Kaplan is speaking at 7pm.
Today's Economic Calendar
|09:00||EUR||Final Manufacturing PMI||58.2||58.2|
|EUR||Italian Monthly Unemployment Rate||11.2%|
|14:45||USD||Final Manufacturing PMI||53.0|
|15:00||USD||ISM Manufacturing PMI||57.9|
|USD||Construction Spending m/m||0.4%|
|USD||ISM Manufacturing Prices||64.5|
|19:00||USD||FOMC Member Kaplan Speaks|