Brexit and ECB Minutes Put the GBP & EUR in Focus

Daily Update - 10th January 2019

Yesterday’s Market

• US FOMC Minutes
• GBP Bank of England Mark Carney’s Speech

Yesterday’s Explained

US released their FOMC Minutes and it clearly indicated that Fed is taking a step back on their Interest rate hikes and tightening monetary policy for 2019 with a Dovish tone set. Concluding the day, Mark Carney spoke about Interest Rate hikes could take heat from April by 25 Basis points and majorly the market reacted to Irish Party rejection for May’s Alliance.

Today’s Market

• ECB Monetary Policy Meeting Accounts
• USD Initial Jobless Claims & Fed Powell Speech

Today’s Focus

Monetary policy meeting decisions released to the public enabled members of the public to improve their understanding of the Governing Council’s assessment of the economy and its policy responses for the year.

Market is anticipating stronger tone to be set by Jerome Powell after last week statement’s was dovish and lead to a weaker dollar across the board. Finally US Job Sector report will be released which will be highly a considerable factor for Jerome Powell to end on a stronger note