Previous Day's Market Highlights
Sterling fell on Friday as traders took profit following recent gains as the UK reached a divorce deal. Despite this progress, the potential for further contention during the next round of talks remains a threat to the pound’s strength. GBP/EUR pulled back from 1.14 and GBP/USD from 1.34.
Optimism that the tax bill would pass initially strengthened the dollar heading into this week’s session, but the greenback later met selling pressure on remaining uncertainties.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
|GBP / EUR||1.1348||1.1509||1.1133||3.27%|
|GBP / USD||1.3397||1.3550||1.3208||2.52%|
|EUR / USD||1.1805||1.1961||1.1713||2.07%|
|GBP / NZD||1.9115||1.9836||1.9080||3.81%|
|GBP / CAD||1.7228||1.7468||1.6843||3.58%|
Today's Market Highlights
The main item on today’s calendar is the final estimate of November Eurozone CPI (10:00 GMT). Headline inflation is expected to remain unrevised at 1.5%, with core inflation ticking up to 1.0% from 0.9%. A gain in the core figure from below 1.0% could offer the euro some support, although the release may otherwise have limited market impact barring any significant revisions.
Traders will also keep an eye on Foreign Securities Purchases data from Canada and the NAHB Housing Market Index from the US (13:30, 15:00 GMT).
Overnight, the RBA releases its latest meeting minutes after keeping interest rates on hold at 1.5% as was widely expected.
Highlights later in the week include BoE Governor Carney’s testimony before the Treasury Select Committee on the Financial Stability Report, CPI data from Canada, and final GDP figures from the UK and the US.
Today's Economic Calendar
|13:30||USD||Building Permits MoM (Nov)||1.270M||1.297M|
|13:30||USD||Housing Starts MoM (Nov)||1.25M||1.29M|
|13:30||USD||Current Account (Q3)||$-116.8B||$-123.1B|
|NZD||Global Dairy Trade Price Index||0.4%|
|21:45||NZD||Current Account QoQ (Q3)||$-4.29B||$-0.62B|
|21:45||NZD||Trade Balance MoM (Nov)||$-550M||$-871M|