Daily Update - 22nd June 2017
The Public Sector Borrowing statistics from the U.K have come in with a better number yesterday. The Pound however has remained under a vast amount of pressure and the 1.26 level against the U.S Dollar remains a focal point. Prime Minister Theresa May has not been able to create better clarity for investors. Her leadership remains in question, and this along with Bank of England Governor Carney’s comments yesterday about no interest rate hike on the horizon as created some problems for the Pound. European equities have opened with losses continuing yesterday’s cautious market action. The All Industries Activity reading from Japan turned in good result this morning, reversing recent lackluster data from the nation. The Yen has been slightly stronger against the U.S Dollar and the 111.00 level remains important. The European Central Bank's (ECB) Economic Bulletin (formerly Monthly Bulletin) contains the statistical data that policymakers evaluate when setting interest rates. The report also provides detailed analysis of current and future economic conditions from the bank's perspective.Also, Fedspeak – Governor Powell testifies on fostering economic growth before the Senate Banking Committee. Lastly speech from UK MPC Forbes Speech – BOE MPC voting member Kristin Forbes is due to give a speech today at the London Business School this may provide some input on the direction of the greenback for today.Yesterday’s Focus
Today’s Focus
