Previous Day's Market Highlights
Sterling-dollar fell to a new low since June 2017 yesterday morning as the dollar continued to firm. Euro-dollar tested lows around 1.13. Headline UK CPI rose to 2.5% as projected, while core inflation stayed steady at 1.9%. The data had a limited impact on the pound, which weakened in the morning session. In the afternoon, the Turkish lira rallied after Qatar pledged to invest $15B in Turkey.
The Aussie strengthened overnight on a dip in the Unemployment Rate and reports that trade talks between China and the US would continue later this month. The US dollar softened against both the euro and the pound following the reports. As a result, sterling-dollar regained 1.27 and euro-dollar made gains towards 1.14.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
A gain in Retail Sales could offer the pound some support this morning (09:30 BST), but overall sterling is likely to remain under relative pressure as Brexit uncertainties remain in play. A slightly higher trade balance may have a limited impact on the euro (10:00).
In the afternoon, US housing data are in focus. Increases in both Housing Starts and Building Permits in July may give the dollar some additional support, although geopolitics will likely remain the greenback’s key driver as markets continue to watch the latest trade and Turkey headlines.
Today's Economic Calendar
|9:30am||GBP||Retail Sales MoM (Jul)||0.2%||-0.5%|
|9:30am||GBP||Core Retail Sales MoM (Jul)||0.1%||-0.5%|
|9:30am||GBP||Retail Sales YoY (Jul)||3.0%||2.9%|
|9:30am||GBP||Core Retail Sales YoY (Jul)||2.8%||3.0%|
|10:00am||EUR||Trade Balance s.a. (Jun)||€17.0B||€16.9B|
|1:30pm||USD||Housing Starts MoM (Jul)||1.260M||1.173M|
|1:30pm||USD||Building Permits MoM (Jul)||1.310M||1.273M|
|1:30pm||USD||Initial Jobless Claims (6 Aug)||215K||213K|
|1:30pm||USD||Philadelphia Fed Manufacturing Survey (Aug)||22.0||25.7|
|12:30am||AUD||RBA Governor Philip Lowe Speaks|