EU FX Handover: Strong UK Wages Boost Pound

FX

  • At midday in London, GBP was the strongest and NZD the weakest, with EUR mixed as EUR/GBP has pulled back to our noted 0.89 support level on the back of stronger UK wages and weaker Eurozone investor confidence data this morning.
  • UK Average Earnings Index including bonuses came in at +3.1% vs. +2.9% expected on a 3m/y basis, while excluding bonuses they were up +3.4%, greater than +3.3% expected. Pound also boosted by comments from BoE’s Saunders, who stated earlier in the session that the bank will ‘probably’ need to return to a neutral policy stance sooner than markets expect.
  • Eurozone Sentix Investor Confidence printed -3.3 vs. 2.3 expected, but not much data to look forward to from North America today, with the exception of PPI perhaps. Making up the numbers will be the IBD/TIPP Economic Optimism and NFIB Small Business Index
  • Overall a quiet day in the markets with equities broadly higher despite renewed threat of China tariffs from Trump, which were brushed aside.

Related tags: Forex

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.

Economic Calendar