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Yesterday

  • GBP/EUR rallied by 0.27% yesterday. The market opened at 1.1621, traded a high of 1.1658, a low of 1.1621 and closed at 1.1653.
  • GBP/USD traded a high of 1.3102 after opening at 1.3032 yesterday before closing at 1.3049 – up by 0.13% on the day.
  • UK Prime Minister Theresa May has sacked defence¬†secretary Gavin Williams and MPs are calling for an investigation by police after he allegedley leaked information about Chinese mobile company Huawei from a confidential meeting.
  • US ADP non-farm employment change came in better than expected at 275K vs 181K expected.
  • The US Fed held rates at <2.50% as expected. In the Fed statement, their language was largely unchanged and it reiterated their non-committal pledge to remain ‘patient’.
  • CNBC reported that the US-China trade deal could be struck by next Friday.
  • The Times are reporting that UK PM May is preparing to remain in lock step with EU customs rules for years after Brexit as she tries to appease Labour.
Overnight
  • GBP/AUD, GBP/NZD and GBP/JPY are trading 1.8611 (+0.09%), 1.9705 (+0.02%) and 145.76 (+0.26%), respectively.
Today
  • We hear from the Bank of England today with rates expected to remain at 0.75%. The Monetary Policy Committee vote is expected to be 9-0 in favour of keeping rates unchanged.
  • Bank of England governor¬†Mark Carney is expected to speak at 12.30.

MAJOR CURRENCY PAIRS
Current at time of distribution

Currency Pair Interbank Rate % Change on Day
GBP/EUR 1.1652 +0.02
GBP/USD 1.3067 +0.14
EUR/USD 1.1211 +0.16
AUD/USD 0.7024 +0.19
ECONOMIC CALENDAR
Current at time of distribution
Time (GMT) Region Data Release Forecast Previous
12:00 GBP BOE Inflation report
12:00 GBP MPC Bank Votes 0-0-9 0-0-9
12:00 GBP Monetary Policy Summary
12:00 GBP Official Bank Votes 0.75% 0.75%
12:00 GBP Asset Purchase Facility Votes 435B 435B
12:00 GBP MPC Asset Purchase Facility Votes 0-0-9 0-0-9

https://www.godi.io/market-updates/newsletter-2nd-may-2019/

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