Yesterday’s markets were low on high tier economic data compared to previous weeks. However, yesterday evening the US JOLTS Job Opening exceeded expectations by posting 6.09M jobs. Consumer Credit also exceeded predictions by posting a positive 20.8B. Despite recent terror and natural disasters, the US economy still seems steady.
Today sees a quiet morning with little market movement. This afternoon sees some high tier data releases; US Crude Oil Inventories are expected at -2.5M and the New Zealand Rate Statement release and press conference. The bank rate is anticipated to be kept at 1.75%.
UK Prime Minister, Theresa May, is set to lose another Cabinet Member as her International Development Secretary has been accused of participating in several unauthorised meetings whilst on holiday. May has already seen defence secretary, Michael Fallon, resign over sexual harassment claims. This will no doubt add to the UK’s current struggle in having a break through with Brexit talks. Sterling dropped off the back of this new.