All eyes on BoE Governor
A day full of announcements, with most interest surrounding speech to Mark Carney.
The EUR/USD pair fell steadily throughout the night as the USD strengthened over major currencies. It reached heights of $1.24286 before beginning its downward trajectory, hitting a low of $1.23354. It has recovered since then to be currently trading at $1.23796. It was the same story with the GBP/USD pair, going from an early high of $1.41574 to steadily decline to a low of $1.40226. It has recovered some of those losses, trading at $1.40698.
The Dow had a miserable night, falling from early highs of 26,705.61 to session lows of 26,438.95. It has come of those lows, ever so slightly, currently sitting at 26,454.90. The Dax continues to underwhelm, hitting both session highs and session lows in early trading. Session high was 13,374.27, while session lows was 13,270.47. It has bounced back a little from those lows, currently trading at 13,309.60.
Turning to today’s events and it is jammed packed full of announcements, with most attention centred around a speech by BoE Governor Mark Carney. As the UK continues to negotiate its way out of the EU, monetary policy settings and outlook play a crucial role in stabilising an otherwise uncertain economy. Other data set for release today includes:
Japan – Household Spending, Retail Sales, Unemployment Rate, BoJ Core CPI
Australia – NAB Business Confidence
US – CB Consumer Confidence, S&P/CS Composite-20 HPI
UK – Net Lending to Individuals, M4 Money Supply, Mortgage Approvals
Europe – French Flash GDP, Swiss Trade Balance, German Prelim CPI, French Consumer Spending, Swiss KOF Economic Barometer, European Flash GDP