Market Notes:
Reserve Bank of Australia hikes policy rate 0.25 point to 4% as expected.
Yesterday’s strong GDP numbers gave the CAD a lift but markets will be watching the BOC‘s public speaking, bearing in mind currency strength has always been a topic after recent meetings.
The pound grabbed the headlines overnight as it was flattened across the board with a mix of concerns about a possible hung parliament, the BOE meeting on Thurs and talk of a huge M&A deal all combined to pressure the pound.
Daily Trends & Charts
Watch the Fundamentals!(GMT time)
Yesterday
UK Manufacturing PMI: 56.6 vs. 56.3 exp.
Eurozone Unemployment: 9.9% vs. 10.1% exp.
Canadian GDP: 0.6% vs. 0.4% exp.
US Manufacturing PMI: 56.5 vs. 57.7 exp.
TODAY
AU Building Approvals: -7.0% vs. 0.7% exp.
AU Retail Sales: 1.2% vs. 0.8% exp.
AU Interest Rate Statement: 4.00% as exp.
Swiss GDP: 0.7% vs. 0.4% exp.
CanadianInterest Rate Statement at 14:00.
Tomorrow
AU GDP at 00:30.
German Retail Sales at 07:00.
UK Services PMI at 09:30.
EU Retail Sales at 10:00.
US ADP Non-Farm Employment Change at 13:15.
US ISM Non-Manufacturing PMI at 15:00.
Good Day!!!
“Trends for today” is presented by Danny Spivak
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