Traders eye UK inflation data
February 13, 2018
Europe Market Movements
The pound is recovering some lost ground in anticipation of today’s CPI data and Friday’s Retail Sales figures. This morning it was trading at 1.3847 against the USD, up from 1.3838 24 hours ago. Traders are also eyeing a series of Brexit speeches due to be delivered by British Cabinet members.
US Market Movements
In the absence of economic events, the USDCAD is trading at 1.2584, not too different from the rate 24 hours ago. The speech today by the FOMC member might move the USD as might the API Weekly Crude Oil Stock. Traders are holding their breath for US inflation data on Wednesday.
Asia/Oceania Market Movements
Australia’s Business Confidence showed a nine month high early this morning boosting the AUD against the USD. Traders are keeping a close watch on the Westpac Consumer Confidence index, due to be released overnight. In the Asian session, the USD has been falling against JPY. Traders will be following Japan’s Gross Domestic Product figures to be released overnight.
Top European Union banking, securities and pensions regulators have warned cryptocurrency investors that they could lose all their money. Gold prices are being held up by a weaker dollar, as investors wait for US inflation data on Wednesday and clues on the direction of interest rates.
Asian stocks have been rising with the MSCI index of Asia Pacific shares up by 1.1%, South Korea’s Kospi up by 0.65%, Australian stocks up by 0.6% and the Shanghai Composite by 1%. The markets are now waiting for the effects of US inflation figures later on this week.
|09:30 GMT||GBP: Consumer Price Index|
|13:00 GMT||USD: FOMC Member Speech|
|23:30 GMT||AUD: Westpac Consumer Confidence|