- S&P revises the UK’s outlook from negative to stable
- CA manufacturing sales down by 0.1% vs. 0.5% uptick expected and 0.3% growth last month
- US headline PPI declines by 0.2% vs. 0.1% uptick expected
- US core PPI down by 0.1% vs. 0.1% increase expected
- US UoM consumer sentiment clocks in at 81.2 vs. 83.0 figure expected
Whether it’s the World Cup, Friday the 13th, or simply the lack of data, market players were hardly around during the last session of the week last week. Volatility was subdued among the major currencies despite the release of a couple of tier 2 reports.
The pound continued to gain against its counterparts as Carney’s hawkish speech was supported by the S&P’s decision to upgrade its outlook from negative to stable. GBP/USD inched higher by another 19 pips to 1.6971 and EUR/GBP slipped by another 7 pips to .7978.
The Greenback’s performance was a bag of mixed nuts as it gained 8 pips on the franc to .9004, slipped by 4 pips against the yen to the 102.00 support, and lost 13 pips to the Aussie at .9403.
Will we see more action today? We don’t have a lot on tap with New Zealand’s Westpac consumer sentiment and the U.K.’s Rightmove house price index reports already out with slightly worse-than-expected numbers and only the BOJ’s monthly report at 5:00 am GMT to look forward to. Still, watch the news wires closely in case we see market-moving catalysts!
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!