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GBP at highest since Brexit

Market Movements

January 18, 2018

 

europe market movements

Europe Market Movements

 

The GBP’s movement encourages traders. The pound has been rallying following comments yesterday by a member of the Bank of England’s policy committee that interest rates will have to go up this year faster than anticipated. The GBP is trading this morning at 1.3843 against the USD, the highest since the Brexit vote in June 2016. It also rose above 154.00 against the JPY, also the highest since the Brexit vote.

 

US Indicators

US Market Movements

Will the influential data out today in the US help the greenback recover? A spate of figures are due out at 13:30 GMT starting with Housing Starts Change, moving on to Building Permits, employment data and the Philly Fed. The CAD fell yesterday against the USD but how will EIA Crude Oil Stocks affect the loonie today? Canada has a prominent crude oil sector.

 

 

Asian indicators

Asia/Oceania Market Movements

Overnight data in Australia didn’t do much for the AUD. It’s fallen this morning by 0.09% against the USD and by 0.21% against the NZD. It remains to be seen how the AUDNZD moves tonight (GMT) in reaction to the New Zealand PMI. In this morning’s Asian session, stocks have reached record highs. The MSCI index of Asia Pacific shares has risen by 0.4 percent, the Nikkei reached its highest level since 1991, falling later on by 0.4 percent and the Shanghai .SSEC rose by 0.4 percent. Chinese data out this morning might further influence the Asian markets.

 

 

commodities

Commodities

Rising oil prices are raising speculation that OPEC and Russia might reconsider their production cuts. Traders await today’s EIA data. On the Crypto front, the Bitcoin volatility ride continues, with it plunging yesterday below $10,000 to recover by 18 percent later on. Traders look on with excitement at the massive movement in the crypto rate.

 

Today’s Events

13:30 GMT USD: Initial Jobless Claims; Continuing Jobless Claims
14:30 GMT EUR: ECB Speech
21:30 GMT NZD: Business NZ PMI

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