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Yesterday

  • Ten MPs will contest the first round of voting on Thursday in their bid to become leader of the Conservative Party.
    • The MPs in the running are Michael Gove, Matt Hancock, Mark Harper, Jeremy Hunt, Sajid Javid, Boris Johnson, Andrea Leadsom, Esther McVey, Dominic Raab and Rory Stewart.
    • All 10 candidates have vowed to deliver Brexit however they differ on how they say they would achieve it.
  • GBP/EUR opened at 1.1240, traded a high of 1.1267, a low of 1.1199 and closed at 1.1210 representing a 0.18% fall on Monday.
  • GBP/USD opened at 1.2729, traded a high of 1.2736, a low of 1.2653 and closed at 1.2684 representing a 0.38% fall on the day.
  • UK GDP m/m came in worst than expected at -0.4%  vs -0.1% expected.
  • UK manufacturing production m/m also came in worse than expected at -3.9% vs -1.1%.
  • Scottish First Minister Nicola Sturgeon is to hold talks with European leaders as part of a visit to Brussels.
Overnight
  • GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.8251, 1.9258 and 137.87, respectively.
  • Australian NAB business confidence came in 7 after coming in at 0 last time around.
Today
  • At 9.30am we have average earnings index 3m/y from the UK which is expected to come in at 2.9%.
  • Then at 1.30pm we expect core PPI m/m and PPI m/m from the US.

 

MAJOR CURRENCY PAIRS
Current at time of distribution

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1210 +0.01
GBP/USD 1.2696 +0.10
EUR/USD 1.1323 +0.11
AUD/USD 0.6957 +0.01

 

ECONOMIC CALENDAR
Current at time of distribution
Time (GMT) Region Data Release Forecast Previous
09:30 GBP Average Earnings Index 3m/y 2.9% 3.2%
13:30 USD Core PPI m/m 0.2% 0.1%
13:30 USD PPI m/m 0.1% 0.2%
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