Fri, October 13, 2017
The pound loss any gain from yesterday, today after comments out of Europe poured cold water on suggestions that a transition deal on Brexit may be at hand.
The pound fell as much as 45 pips against the dollar in as little as a minute, as German Chancellor Angela Merkel’s press secretary said that it was too early to discuss any transition deals on the U.K.’s prospective exit from the EU, while European Commission President Jean Claude Juncker said that the process would take longer than initially thought.
Sterling strengthened late on Thursday, after German newspaper Handelsblatt reported that the European Union’s chief Brexit negotiator, Michel Barnier, may be prepared to offer the U.K. a two-year transition period.
A German spokesman said that these comments are false ahead of the EU summit next week.
Sterling was little changed at $1.3264 against the dollar at 11:23 a.m. this morning after rising as much as 0.5% earlier today. The pound also had little change against the Euro at 1.124.
Data to look out today.
13:30 USD Consumer Price Index CPI
13.30 USD Retail sales
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| Day | Time | Currency | Event |
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| FRI | 06:00 | EUR | EUR German Consumer Price Index (MoM) | FRI | 06:00 | EUR | EUR German Consumer Price Index (YoY) | FRI | 07:15 | CHF | CHF Producer & Import Prices (MoM) | FRI | 07:15 | CHF | CHF Producer & Import Prices (YoY) | FRI | 09:30 | EUR | EUR ECB's Mersch attends conference in Luxembourg | FRI | 12:30 | USD | USD Consumer Price Index (MoM) | FRI | 12:30 | USD | USD Consumer Price Index Ex Food & Energy (MoM) | FRI | 12:30 | USD | USD Consumer Price Index (YoY) | FRI | 12:30 | USD | USD Consumer Price Index Ex Food & Energy (YoY) | FRI | 12:30 | USD | USD Consumer Price Index Core Index s.a. | FRI | 12:30 | USD | USD Consumer Price Index n.s.a. | FRI | 12:30 | USD | USD Real Avg Weekly Earnings (YoY) | FRI | 12:30 | USD | USD Advance Retail Sales | FRI | 12:30 | USD | USD Real Avg Hourly Earning (YoY) | FRI | 12:30 | USD | USD Retail Sales Less Autos | FRI | 12:30 | USD | USD Retail Sales Ex Auto and Gas | FRI | 12:30 | USD | USD Retail Sales Control Group | FRI | 14:00 | USD | USD U. of Michigan Confidence | FRI | 14:00 | USD | USD U. of Mich. Current Conditions | FRI | 14:00 | USD | USD U. of Mich. Expectations | FRI | 14:00 | USD | USD U. of Mich. 1 Yr Inflation | FRI | 14:00 | USD | USD U. of Mich. 5-10 Yr Inflation | FRI | 14:00 | USD | USD Business Inventories | FRI | 14:15 | EUR | EUR ECB's Constancio attends panel in Washington | FRI | 14:25 | USD | USD Fed's Evans Speaks on Economy and Monetary Policy | FRI | 15:30 | USD | USD Fed's Kaplan Speaks in Boston | FRI | 17:00 | USD | USD Baker Hughes U.S. Rig Count | FRI | 17:00 | USD | USD Fed's Powell Speaks at Boston Fed Economic 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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