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Daily Briefing – Thursday, December 14, 2017


UK earnings rose in November by 2.3 percent and inflation is up to 3.1 percent in November. The GBP reacted positively to the news, ending the day yesterday up against the USD. The BOE will be publicizing its Interest Rate decision at midday so continue tracking those GBP pairs. Across the English Channel expect movement on the European front. The ECB’s Interest rate decision will be made at 12:45. Added to the SNB interest rate decision at 8:30 this morning, ahead of which the Swiss Franc was already trading higher, quite an active day for traders.



The outgoing Fed Reserve Chair increased interest rates yesterday as widely expected. Stay tuned to the data due out today, Retail Sales, Unemployment figures, Markit PMI and Business Inventories. The USD is bound to react.




The recent weakness of the JPY helped Japanese exporters as shown by preliminary figures. December manufacturing activity grew to 54.2 from a final reading of 53.6 last month. This and other economic news boosted the JPY which grew against the USD. Positive job news down in Australia boosted the AUD which grew to a one month high against the JPY. How will data due out in Japan tonight affect the AUDJPY?




US crude stockpiles fell in figures released yesterday, with inventories falling by 5.1 million barrels. As a result, oil prices rose, with WTI at $56.69 and Brent at $ 62.79.



Adobe is expected to report its earnings today after the markets closes. The consensus EPS forecast is $0.96, up for the same quarter last year.


Today’s Events

09:00 GMT CHF: SNB Press Conference
12:00 GMT GBP: BOE Interest Rate Decision & Monetary Policy Summary
13:30 GMT USD: Retail Sales
13:30 GMT ECB Monetary Policy
17:25 GMT CAD: BOC Governor Speech

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