Brexit and Inflation Figures Put the Pound in the Spotlight

Daily Update - 18th November 2020

Yesterday’s Market

• AUD RBA Meeting Minutes                                               
• GBP BoE Gov Bailey Speaks                                              
• USD Core Retail Sales (MoM) (Oct), Retail Sales (MoM) (Oct)       
• EUR BoE Gov Bailey Speaks, ECB President Lagarde Speaks           

Yesterday’s Explained

Several speeches from Australia, UK and the Eurozone caused massive volatility in the market with the lower than expected retail reports for the month of October sending the dollar to new lows.

 

Today’s Market

• NZD PPI Input (Q/Q)   
• GBP Core CPI (Y/Y) (OCT), Consumer Price Index (M/M) (OCT), CPI (Y/Y) (OCT) 
• EUR Euro-Zone Core CPI (Y/Y) (NOV 01), Euro-Zone CPI (Y/Y) (OCT)
• CAD Bank of Canada Core CPI (Y/Y) (OCT)

Today’s Focus

The day will be full of major economic data coming from New Zealand UK and the Eurozone. 

The UK economy expected to announce the CPI numbers which measures the change in the price of goods and services from the perspective of the consumer followed by the CPI from the Eurozone. Coming up will be the building permit form the US which will be watched closely by investors.

A lot of volatility expected today as President Lagarde Speaks and her view on the economic recovery and strength of currency will be of great importance to market participants and the day will end with the crude oil inventory report from the US.