18th April 2019 Market Update
Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report.
🇬🇧 GBP – Sterling dropped marginally yesterday after inflation data failed to live up to expectations and remaining at 1.9%. Whilst there was rising prices for fuel and clothing this was balanced out by falling food prices and recreational costs.
Ahead of the long weekend, we have retail sales for the month of March expected to come in higher at 4.6%.
With volume lower over the weekend, there could be sharp spikes should there be any developments with Brexit, so clients should look to put in Limit Orders with their dealers to take advantage of any potential moves.
🇪🇺 EUR – Inflation in the eurozone dipped to 0.8% matching forecasts with the euro making a sharp spike during the day to make new highs versus both the pound and the dollar. However, in the afternoon we saw the euro weaken off after the German economic minister cut growth forecasts for this year to 0.5% – which was the second time in three months.
Eurozone flash manufacturing and services PMIs released this morning have disappointed causing the euro to weaken off in early trade.
🇺🇸 USD – Thanks to a surge in exports to China, the US trade deficit has fallen to an 8 month low causing the dollar to make gains yesterday, with the flow continuing into today.
US retail sales are due out this afternoon forecasted to climb to 0.9% up from a fall of 0.2% in February. Manufacturing and service sector figures are also due out today forecasted to come in mixed at 52.7 and 55 respectively.
GBP: Sterling demand still low ahead of inflation data
EUR: Markets remain euro positive following ZEW survey
USD: Industrial production drops
Find out more about our Money Transfer service for personal & business international payments. We’re committed to giving all clients the best rate possible, along with flexible and personalised service. Save time and money by reducing risk through a simple and efficient service.