Previous Day's Market Highlights
Overall, sterling was slightly firmer yesterday as exchange rates largely held around familiar levels. Euro-dollar continued to trade either side of 1.17, while sterling-euro traded around 1.12 and sterling-dollar made some gains above 1.31.
Data-wise, German PMIs surprised to the upside while the Eurozone indices were mixed, helping the euro to recover its pre-data losses. US Manufacturing and Services PMIs were also a mixed bag, contributing to some downwards pressure on the dollar. The kiwi softened overnight on disappointing trade data. The Aussie dropped on under-forecast Q2 CPI data, found headline inflation softer than forecast both quarter-on-quarter and year-on-year.
The Turkish lira tumbled yesterday after Turkey’s central bank kept interest rates on hold, disappointing investors who had expected rates to rise given high inflation. The lira fell around 3% against both the dollar and the pound.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
The relatively quiet calendar continues today. There are no major UK data releases, while the US will keep an eye New Home Sales (15:00 BST) and commodity currencies will take note of weekly EIA Crude Oil Inventories (15:30). The main focus for the euro this week is tomorrow’s ECB meeting.
Today's Economic Calendar
|3:00pm||USD||New Home Sales MoM (June)||0.670M||0.689M|
|3:30pm||USD||EIA Crude Oil Inventories (16 Jul)||-2.331M||5.836M|