Sunday 17.02.2019 FX retail opening rates.
Good evening folks, hope you had a relaxing weekend.
Two contradictory stories on Brexit. One says French soften their stance on the backstop, the other said the opposite.
On the ex-EU talks we’re also getting some updates as Japan is not happy with the way UK is handling the tactics, Australia in turn wants to fast-track a trade deal with UK but not to keen on them joining the TPP.
Cable jumped a bit pre-open but has since given up most of the gains. We are above 1.2900 and around 0.8750 on the EURGBP. The market seems tempted to see the glass half full for now. Agreed but cautiously. There will be a lot of frequent traveller points accumulated again this week from both sides of the Channel and any headline could undo the previous.
After a rather empty Monday calendar together with US and Canadian holidays, we’ll be going crescendo again with PPI, PMI and CPI’s hitting the data calendar over the week, the Australian labour report and probably some catch up US data.
Enough to make for an exciting week in our company again.
In the meantime here are the opening rates. Have a pipful week, stay safe and happy hunting.