Wed, March 16, 2016
Sterling fell for a third consecutive day as investors prepared for U.K. Chancellor of the Exchequer George Osborne’s eighth annual budget today at 12:30pm.
The Pound weakened the most in three weeks versus the Dollar yesterday. Osborne has warned that more savings, including public-sector spending cuts, will be required as economic risks intensify.
The U.K. currency is one of the worst-performing major currencies over the past month amongst worry that Britain will quit the EU at a June 23 referendum, threatening trade and economic stability, and keeping interest rates at a record low for longer. The BOE is scheduled to announce its latest policy decision on Thursday.
The Pound fell 0.3% to 1.4111 as of 8:32 a.m., having slid 1.1% on Tuesday, the biggest drop since Feb. 22. The U.K. currency was little changed at 1.2734 against the Euro.
Data to look out for today.
09:30: GBP Unemployment Rate
09:30: GBP Jobless Claims
12:30: GBP Osborne Makes Budget Speech To Parliament
12:30: USD Consumer Price Index
18:00: USD Federal Open Market Committee Rate Decision
18:30: USD Fed Chair Yellen Holds Press Conference
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| Day | Time | Currency | Event |
|---|---|---|---|
| WED | 07:00 | EUR | EUR EU 25 New Car Registrations | WED | 09:30 | GBP | GBP Weekly Earnings ex Bonus (3M/YoY) | WED | 09:30 | GBP | GBP ILO Unemployment Rate (3M) | WED | 09:30 | GBP | GBP Employment Change (3M/3M) | WED | 09:30 | GBP | GBP Claimant Count Rate | WED | 09:30 | GBP | GBP Jobless Claims Change | WED | 09:30 | GBP | GBP Average Weekly Earnings (3M/YoY) | WED | 10:00 | EUR | EUR Euro-Zone Construction Output s.a. (MoM) | WED | 10:00 | EUR | EUR Euro-Zone Construction Output w.d.a. (YoY) | WED | 11:00 | USD | USD MBA Mortgage Applications | WED | 12:30 | GBP | GBP Osborne Makes Budget Speech to Parliament | WED | 12:30 | USD | USD Consumer Price Index Ex Food & Energy (MoM) | WED | 12:30 | USD | USD Consumer Price Index (YoY) | WED | 12:30 | USD | USD Consumer Price Index Ex Food & Energy (YoY) | WED | 12:30 | USD | USD Real Avg Weekly Earnings (YoY) | WED | 12:30 | USD | USD Housing Starts | WED | 12:30 | USD | USD Housing Starts (MoM) | WED | 12:30 | USD | USD Building Permits | WED | 12:30 | USD | USD Building Permits (MoM) | WED | 12:30 | USD | USD Consumer Price Index (MoM) | WED | 12:30 | USD | USD Consumer Price Index n.s.a. | WED | 12:30 | USD | USD Consumer Price Index Core Index s.a. | WED | 13:15 | USD | USD Manufacturing (SIC) Production | WED | 13:15 | USD | USD Industrial Production | WED | 13:15 | USD | USD Capacity Utilization | WED | 14:30 | USD | USD DOE U.S. Gasoline Inventories | WED | 14:30 | USD | USD DOE U.S. Crude Oil Inventories | WED | 14:30 | USD | USD DOE Cushing OK Crude Inventory | WED | 14:30 | USD | USD DOE U.S. Distillate Inventory | WED | 18:00 | USD | USD Federal Open Market Committee Rate Decision | WED | 18:30 | USD | USD Fed Chair Yellen Holds Press Conference |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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