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Daily Briefing – Thursday, January 11, 2018


UK manufacturing grew again in November at the fastest rate in six years, a sign that British industry are benefitting from the weak pound. With this, the GBP fell again yesterday against the EUR by 0.38% but the FTSE 100 hit a new closing high – up 34.51 points at 7731.02. European shares closed down by 0.47%, as investors studied corporate earnings.



The USDCAD went up by 0,56% yesterday on reports that the American President would announce the US’s exit from the North American Free Trade Agreement (NAFTA). Even though the White House said that there hasn’t been any change in the administration’s position on NAFTA, to a great extent, any decision by the Bank of Canada to raise interest rates on January 17, depends on this issue. How will today’s US jobless figures move the greenback?




Reports from China that it was considering a slowdown or halt to purchases of US treasuries hit the USD yesterday, with it falling against the AUD by 0.30% and against the JPY by 1.07%. The USDJPY has somewhat recovered in today’s Asia-Pacific trading session. Asian stocks have fallen this morning with the Nikkei 225 declining by 0.43%, the Kospi by 0.48%, the Australian S&P/ASX 200 shedding 0.56% and the Hang Seng 0.18%. Traders eye today’s Building data from New Zealand and Foreign investment data from Japan.




Despite yesterday’s mixed inventory report, Crude Oil has surged with WTI hitting $63.67 and Brent topping out at $69.37. Bitcoin slid by almost 5% and Ripple by 17%after investing legend Warren Buffet said that he was almost certain that the cryptocurrency craze would “end badly”. Ethereum however, surged by 17%.



Today’s Events

12:30 GMT EUR: ECB Monetary Policy Meeting Accounts
13:30 GMT USD: Jobless Claims
21:45 GMT NZD: Building Permits

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