Daily Briefing – Wednesday, January 10, 2018
The Euro yesterday shrugged off positive economic data, declining against the USD by 0.33% but going up against the loonie by 0.11%. The GBP also declined yesterday against the greenback but might its fortunes change today? The UKs industrial and manufacturing production and total trade balance out this morning will all be eyed by investors.
The loonie fell yesterday against the greenback and against the EUR. But what does today hold? The commodity sensitive loonie may very well react to today’s EIA Crude Oil Stocks. As far as the USD is concerned, Import and Export data out today could have some effect. Time will tell.
The Yen has continued its climb yesterday, with the AUD falling by 0.67%, the USD by 0.27% and the EUR by 0.61%. This morning the AUD has continued its downward trend. Will Aussie Retail Sale data due out in the early hours of Thursday morning (GMT) change things for the Aussie?
Oil prices have hit their highest levels since 2014 due to ongoing production cuts by OPEC. Brent stood at $69.15 and WTI at $63.44. Traders await today’s EIA data. The cryptocurrency Ripple fell 12.8 percent yesterday, after falling by 8 percent on Monday. Litecoin and Bitcoin also saw sharp falls.
US equities closed at record highs on Tuesday with the S&P 500 rising to 2, 751.29. The Dow Jones jumped 102.80 and NASDAQ climbed to 7,163.58. In Asia, the Nikkei fell by 0.3 percent, the Australian S&P/ASX 200 by 0.5 percent and the Kospi by 0.5 percent but the Hang Seng and CSI 300 index have seen gains.
|09:30 GMT||GBP: Industrial Production; Manufacturing Production; Trade Balance|
|15:30 GMT||USD: EIA Crude Oil Stocks|
|00:30 GMT + 1||AUD: Retail Sales|