Previous Day's Market Highlights
Yesterday was another quiet calendar day. Sterling saw pressure in the morning as markets continued to focus on Brexit uncertainties. The euro gained in the morning session in part after the EC revised up its economic growth forecasts.
US Initial Jobless Claims rose more than expected, but at 239K held below the 300K mark for the 130th week. The dollar has fluctuated recently on concerns that a corporate tax rate cut could be delayed.
Sterling-euro fell back below 1.1300 to its lowest levels since Monday. Sterling-dollarheld within the week’s range. Euro-dollar regained 1.1600 to trade at one-week highs.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1288||1.1451||1.1083||3.21%|
|GBP / USD||1.3131||1.3339||1.3039||2.25%|
|EUR / USD||1.1633||1.1875||1.1553||2.71%|
|GBP / NZD||1.8928||1.9433||1.8367||5.49%|
|GBP / CAD||1.6642||1.7171||1.6383||4.59%|
Today's Market Highlights
The UK’s main release of the week is this morning’s Manufacturing and IndustrialProduction and trade figures (09:30 GMT). A mixed set of data may do little to offer the pound renewed support as the week ends. Any surprises to the upside could offer the pound temporary relief as it eyes Brexit uncertainties. Today is a Bank Holiday in the US.
Next week is set to be a busier calendar week and therefore may see greater volatility. The latest UK CPI, employment, and Retail Sales figures will be in close focus as investors evaluate the strength of the economy.
Today's Economic Calendar
|24hr||USD||Veterans Day (Observed)|
|09:30||GBP||Manufacturing Production MoM (Sep)||0.3%||0.4%|
|09:30||GBP||Manufacturing Production YoY (Sep)||2.4%||2.8%|
|09:30||GBP||Industrial Production MoM (Sep)||0.3%||0.2%|
|09:30||GBP||Industrial Production YoY (Sep)||1.9%||1.6%|
|09:30||GBP||Total Trade Balance (Sep)||£-4.600B||£-5.626B|
|09:30||GBP||Goods Trade Balance (Sep)||£-12.800B||£-14.245B|
|15:00||USD||Michigan Consumer Sentiment Index (Nov)||100.7||100.7|