Today’s important Forex market news

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Today’s important Forex market news – Sterling was sagging in early European trade as we head into today’s MPC meeting. This is really about gauging subtle shifts in MPC thinking since August, when policy was eased and a decent indication was given that it may have to be eased again later this year. On the face of it, the data has not been shifting this way, so the potential for sterling volatility is largely going to come from any change in this perception as revealed in the minutes to the meeting. Initial cable resistance comes in at 1.3164.

Talking of central banks, the SNB today kept key policy rates unchanged at their quarterly meeting, with the target for Libor remaining at -0.25%. There was no reason for the Swiss franc to get excited and it was no surprise to see the SNB re-iterating that the franc remains significantly overvalued.

Elsewhere, the latest labour market data in Australia saw a small fall in the unemployment rate to 5.6%. The Aussie was little changed, with the dollar-bloc (CAD and NZD) generally softer as we head into the FOMC meeting next week.

Today’s important Forrex market newsTime: GMT
208:30Retail Sales ex-Fuel (MoM)
208:30Retail Sales ex-Fuel (YoY)
208:30Retail Sales (YoY)
208:30Retail Sales (MoM)
209:00Trade Balance s.a.
209:00Trade Balance n.s.a.
209:00Consumer Price Index – Core (MoM)
209:00Consumer Price Index (YoY)
209:00Consumer Price Index – Core (YoY)
209:00Consumer Price Index (MoM)
311:00BoE Asset Purchase Facility
311:00BoE Interest Rate Decision
311:00Monetary Policy Summary
311:00BOE MPC Vote Cut
311:00BOE MPC Vote Unchanged
311:00BOE MPC Vote Hike
311:00Bank of England Minutes
212:30Retail Sales ex Autos (MoM)
212:30Retail control
312:30Retail Sales (MoM)
212:30Initial Jobless Claims
212:30Philadelphia Fed Manufacturing Survey
213:15Industrial Production (MoM)
213:15Capacity Utilization


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