Sterling strengthens as May faces pressure to go for soft Brexit

Daily Update - 02nd April 2019

Yesterday’s Market

• EUR - Consumer price index
• USD – ISM Manufacturing PMI

Yesterday’s explained

All EU Manufacturing index fell as activity in bloc continues to shrink. On the Inflation front all EU CPI & Manufacturing PMI came out weaker than expectations further easing by the ECB. Upbeat US March ISM Manufacturing PMI worsened EUR drastically. The U.S. equities were indicating a sharply higher open on Monday following positive trade news and expansionary economic data from China.

 

Today’s Market

• AUD – RBA Interest rate decision
• GBP – Markit Construction PMI

Today’s Focus

The Australian Dollar is trading lower shortly after the Reserve Bank of Australia (RBA) announced its interest rate and monetary policy decisions. The RBA left its benchmark interest rate unchanged at a record low for twenty-ninth straight time at its April monetary policy meeting. The low level of interest rates is continuing to support the Australian economy