Daily Update - 18th July 2017
In terms of yesterday economic data, it was fairly quiet day with only consumer price index came out from the Eurozone. The data came out as expected staying steady in its former position at 1.2%. The main market shifter for the day happened to be due to political issues as it was officially announced that Trump-care has been officially dead as senators are dropping their support to the bill leaving investor to ponder if Trump would be capable of delivering on his promise of better tax rate for corporate entities and fiscal reforms when he is incapable of handling the previously mentioned. This paired with positive CPI caused the Euro to skyrocket to a 14-month high. The day is GBP biased as there will be a plethora of economic data coming out of Great Britain. Mainly focusing on price indexes for the retail, consumer and producer divisions. These are mainly comparisons between the prices of its competitors in the same sector which will enable them to measure the rate of inflation the economy is facing. This is followed by the speech by governor Carney from the BOE where he will address matters pertaining to the British economy. US will not be having any major reports for the day as only Import Price Index will be released for the day where it will monitor the change in price for imported products into the US. Yesterday’s Focus
Yesterday’s Explained
Today’s Focus
Today’s Market
