Thu, April 19, 2018
In just three days, the possibility of two rate hikes this shaken up.
Sterling fell yesterday as inflation slowed to the weakest level in a year, and wage growth came in slower than expected on Tuesday. A hike in May is still almost fully priced in the market, a second hike in 2018 has fallen.
This means sterling isn’t looking as strong. GBP is more likely to fall back to $1.40 in the next month from around $1.42 now, instead of rising to $1.45.
Bank of England policy makers, have said that the U.K. needs more increases to help stop the economy from overheating.
This was one of the main reasons for the rally that took sterling above $1.43 earlier this week to the highest since the Brexit vote.
The Pound fell from a high of $1.4315 yesterday to 1.4195, Sterling fell from €1.16 on Tuesday to 1.1473.
Data to look out today.
13:30 USD initial Jobless claims.
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KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html
| Day | Time | Currency | Event |
|---|---|---|---|
| THUR | 08:00 | EUR Euro-Zone Current Account s.a. (euros) | THUR | 08:00 | EUR Euro-Zone Current Account n.s.a. (euros) | THUR | 08:30 | GBP Retail Sales Ex Auto Fuel (MoM) | THUR | 08:30 | GBP Retail Sales Ex Auto Fuel (YoY) | THUR | 08:30 | GBP Retail Sales Inc Auto Fuel (MoM) | THUR | 08:30 | GBP Retail Sales Inc Auto Fuel (YoY) | THUR | 10:10 | GBP BOE FPC's Brazier speaks in London | THUR | 12:00 | USD Fed's Brainard Speaks on Regulatory Reform | THUR | 12:30 | USD Initial Jobless Claims | THUR | 12:30 | USD Continuing Claims | THUR | 12:30 | USD Philadelphia Fed Business Outlook | THUR | 13:30 | USD Fed's Quarles Testifies on Supervision Before Senate Panel | THUR | 14:00 | USD Leading Index | THUR | 14:30 | USD EIA Working Natural Gas Implied Flow | THUR | 14:30 | USD EIA Natural Gas Storage Change | THUR | 16:30 | GBP BOE's Cunliffe speaks in Washington. | THUR | 17:00 | USD U.S. to Sell USD 16Bln 5-Year TIPS Reopening | THUR | 22:45 | USD Fed's Mester Speaks on Economic Outlook and Policy |
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