Tue, May 23, 2017
The Pound Continued to trade near an eight-month high versus the Dollar yesterday, as political scepticism showed no signs of loosening its grip on the US currency.
Yesterday afternoon the Pound traded just above 1.30 against the Dollar, having broken through the psychologically important mark for the first time since September last week.
Despite the Pound being relatively resilient in the past few days, economists are still displaying caution ahead of the General Election on June 8th and as Brexit negotiations get under way.
After a slight recovery over the weekend, the Pound declined against the Euro after polls showed Conservative leader Theresa May’s advantaged has narrowed. Last week the Pound sunk to a month low against the Euro to 1.1619 as UK inflation rose to 2.7%. GBP/EUR has continued to fall this week to 1.1543.
The Pound was little changed against the Dollar at 1.2981. The Pound fell to a low of 1.1532 against the Euro.
Data to look out for today.
14:45: USD Manufacturing PMI
14:45: USD Services PMI
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| Day | Time | Currency | Event |
|---|---|---|---|
| TUE | 06:00 | EUR | EUR German Gross Domestic Product s.a. (QoQ) | TUE | 06:00 | EUR | EUR German Gross Domestic Product w.d.a. (YoY) | TUE | 06:00 | EUR | EUR German Gross Domestic Product n.s.a. (YoY) | TUE | 06:00 | EUR | EUR German Private Consumption | TUE | 06:00 | EUR | EUR German Government Spending | TUE | 06:00 | EUR | EUR German Capital Investment | TUE | 06:00 | EUR | EUR German Construction Investment | TUE | 06:00 | EUR | EUR German Domestic Demand | TUE | 06:00 | EUR | EUR German Exports | TUE | 06:00 | EUR | EUR German Imports | TUE | 07:00 | EUR | EUR Markit France Manufacturing PMI | TUE | 07:00 | EUR | EUR Markit France Services PMI | TUE | 07:00 | EUR | EUR Markit France Composite PMI | TUE | 07:30 | EUR | EUR Markit/BME Germany Manufacturing PMI | TUE | 07:30 | EUR | EUR Markit Germany Services PMI | TUE | 07:30 | EUR | EUR Markit/BME Germany Composite PMI | TUE | 08:00 | EUR | EUR Markit Eurozone Manufacturing PMI | TUE | 08:00 | EUR | EUR Markit Eurozone Services PMI | TUE | 08:00 | EUR | EUR Markit Eurozone Composite PMI | TUE | 08:00 | EUR | EUR German IFO - Business Climate | TUE | 08:00 | EUR | EUR German IFO - Expectations | TUE | 08:00 | EUR | EUR German IFO - Current Assessment | TUE | 08:30 | GBP | GBP Public Finances (PSNCR) (Pounds) | TUE | 08:30 | GBP | GBP Central Government NCR | TUE | 08:30 | GBP | GBP Public Sector Net Borrowing (Pounds) | TUE | 08:30 | GBP | GBP PSNB ex Banking Groups | TUE | 10:00 | GBP | GBP CBI Retailing Reported Sales | TUE | 10:00 | GBP | GBP CBI Total Dist. Reported Sales | TUE | 13:00 | USD | USD Fed's Kashkari Speaks with Reporters in Minneapolis | TUE | 13:45 | USD | USD Markit US Manufacturing PMI | TUE | 13:45 | USD | USD Markit US Services PMI | TUE | 13:45 | USD | USD Markit US Composite PMI | TUE | 14:00 | USD | USD New Home Sales | TUE | 14:00 | USD | USD New Home Sales (MoM) | TUE | 14:00 | USD | USD Richmond Fed Manufacturing Index | TUE | 15:00 | EUR | EUR ECB's Coeure takes part in a panel discussion in Paris | TUE | 15:30 | USD | USD U.S. to Sell USD20 Bln 52-Week Bills | TUE | 15:30 | USD | USD U.S. to Sell 4-Week Bills | TUE | 17:00 | USD | USD U.S. to Sell USD26 Bln 2-Year Notes | TUE | 19:15 | USD | USD Fed's Kashkari Speaks in Minneapolis | TUE | 21:00 | USD | USD Fed's Harker Speaks in New York |
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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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