Tue, December 05, 2017
The pound fell against the dollar, reversing an earlier gain, as the U.K. and the European Union said there hadn’t been any satisfactory development to move Brexit talks on to trade.
Sterling held its gains against the Euro as the two sides appeared hopeful of an agreement, in time for an EU summit later this month, Jean-Claude Juncker the European Commission President saying he was “confident” they could meet that deadline. The pound rose earlier in the day as reports of a breakthrough was likely.
Sterling fell 0.1% to $1.3470 against the dollar yesterday evening, after swinging between gains and losses of as much as 0.5%. It strengthened 0.3% to 1.1405 against the euro.
Sterling has strengthened against the dollar over the past four weeks, partly on the back of a weaker U.S. currency. A deal to move talks onto trade could push sterling to new highs for the year, while a lack of positive developments could push past $1.32,
Data to look out today.
09.:30 UK PMI
10:00 Euro- Zone retail sales
13:30 USD non-manufacturing service.
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| Day | Time | Currency | Event |
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| TUE | 08:45 | EUR | EUR Markit/ADACI Italy Services PMI | TUE | 08:45 | EUR | EUR Markit/ADACI Italy Composite PMI | TUE | 08:50 | EUR | EUR Markit France Services PMI | TUE | 08:50 | EUR | EUR Markit France Composite PMI | TUE | 08:55 | EUR | EUR Markit Germany Services PMI | TUE | 08:55 | EUR | EUR Markit/BME Germany Composite PMI | TUE | 09:00 | GBP | GBP New Car Registrations (YoY) | TUE | 09:00 | EUR | EUR Markit Eurozone Services PMI | TUE | 09:00 | EUR | EUR Markit Eurozone Composite PMI | TUE | 09:30 | GBP | GBP Markit/CIPS UK Services PMI | TUE | 09:30 | GBP | GBP Markit/CIPS UK Composite PMI | TUE | 09:30 | GBP | GBP Official Reserves (Changes) | TUE | 10:00 | EUR | EUR Euro-Zone Retail Sales (MoM) | TUE | 10:00 | EUR | EUR Euro-Zone Retail Sales (YoY) | TUE | 13:30 | USD | USD Trade Balance | TUE | 14:45 | USD | USD Markit US Services PMI | TUE | 14:45 | USD | USD Markit US Composite PMI | TUE | 15:00 | USD | USD ISM Non-Manufacturing/Services Composite | TUE | 16:30 | USD | USD U.S. to Sell USD20 Bln 52-Week Bills | TUE | 16:30 | USD | USD U.S. to Sell 4-Week Bills |
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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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