Thu, December 01, 2016
A second straight day of sudden Pound movements highlighted why investors and traders are cautious about betting on a clear trend for the currency until there is a further clarity over the shape Brexit will take.
Sterling has been tough in November, rising nearly 2% against the Dollar and set for its best monthly performance since Jan 2009. The Pound rose 5.1% in November against the Euro.
British manufacturing growth unexpectedly slowed in November as factories wrestled with soaring costs caused by Sterling’s plunge after the UK voted for an EU exit while the weaker Pound failed to boost export orders as much as in previous months.
Manufacturing PMI was expected to result at 54.3 but didn’t mount up to economists estimates and the data release showed a figure of 53.4.
Sterling rose against both the Dollar and the Euro over night reaching 1.2537 and 1.1827.
Data to look out for today.
09:30: GBP Manufacturing PMI
15:00: USD ISM Manufacturing
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| Day | Time | Currency | Event |
|---|---|---|---|
| THU | 07:00 | GBP | GBP Nationwide House Prices n.s.a. (YoY) | THU | 07:00 | GBP | GBP Nationwide House Prices s.a. (MoM) | THU | 08:45 | EUR | EUR Markit/ADACI Italy Manufacturing PMI | THU | 08:50 | EUR | EUR Markit France Manufacturing PMI | THU | 08:55 | EUR | EUR Markit/BME Germany Manufacturing PMI | THU | 09:00 | EUR | EUR Markit Eurozone Manufacturing PMI | THU | 09:30 | GBP | GBP Markit UK PMI Manufacturing s.a. | THU | 10:00 | EUR | EUR Euro-Zone Unemployment Rate | THU | 10:00 | EUR | EUR Italian Gross Domestic Product s.a. and w.d.a. (QoQ) | THU | 10:00 | EUR | EUR Italian Gross Domestic Product s.a. and w.d.a. (YoY) | THU | 12:30 | USD | USD Challenger Job Cuts (YoY) | THU | 13:00 | EUR | EUR ECB's Nowotny Speaks on Monetary Policy | THU | 13:30 | USD | USD Fed's Mester Gives Opening Remarks at Financial Stability Conf | THU | 13:30 | USD | USD Continuing Claims | THU | 13:30 | USD | USD Initial Jobless Claims | THU | 14:00 | USD | USD Fed's Kaplan Speaks in San Antonio | THU | 14:45 | USD | USD Markit US Manufacturing PMI | THU | 15:00 | USD | USD Construction Spending (MoM) | THU | 15:00 | USD | USD ISM Manufacturing | THU | 15:00 | USD | USD ISM Prices Paid | THU | 15:00 | USD | USD ISM New Orders | THU | 15:30 | USD | USD EIA Natural Gas Storage Change | THU | 15:30 | USD | USD EIA Working Natural Gas Implied Flow |
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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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