Previous Day's Market Highlights
Sterling recovered ground yesterday following an initial dip after the London terror attacks over the weekend. UK Services PMI fell more than forecast but remained about the 50-point mark consistent with industry expansion.
Sterling-euro made gains toward 1.1500. Sterling-dollar regained 1.2900, in part as US services data disappointed. ISM Non-Manufacturing PMI fell from 57.5 to 56.9. Euro-dollar traded above 1.1200. The dollar initially saw support against the euro but eased back in the afternoon.
Final Eurozone and German PMIs were unchanged or better than forecast.
The Aussie dollar fell overnight as the Q1 Current Account deficit missed expectations. The RBA kept interest rates on hold at 1.5% as expected, and the Aussie regained some of its earlier lost ground against the pound, pushing back below 1.7300.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1470||1.1929||1.1405||4.39%|
|GBP / USD||1.2926||1.3048||1.2768||2.15%|
|EUR / USD||1.1269||1.1283||1.0839||3.94%|
|GBP / NZD||1.8039||1.8964||1.7990||5.14%|
|GBP / CAD||1.7387||1.7822||1.7195||3.52%|
Today's Market Highlights
The calendar is quieter today. Eurozone Retail Sales are forecast to slow to 0.2% from 0.3% month-on-month and remain unchanged at 2.3% on an annual basis (10:00 BST).
In the afternoon, the Global Dairy Trade Price Index and Canada’s Ivey PurchasingManagers Index (15:00 BST) will be in focus.
Overnight, a forecast slowdown in Q1 Australian GDP could weigh on the Aussie dollar.
Today's Economic Calendar
|10:00||EUR||Retail Sales YoY (Apr)||2.3%||2.3%|
|10:00||EUR||Retail Sales MoM (Apr)||0.2%||0.3%|
|NZD||Global Dairy Trade Price Index||3.2%|
|15:00||USD||JOLTS Job Openings (Apr)||5.650M||5.743M|
|15:00||CAD||Ivey Purchasing Managers Index (May)||62.0||62.4|
|02:30||AUD||GDP YoY (Q1)||1.5%||2.4%|
|02:30||AUD||GDP QoQ (Q1)||0.2%||1.1%|