The GBP/USD was flat today at 1.3165 as weakness in the pound was offset by the decline in the US dollar. A survey of manufacturers from industry group
The GBP/USD was flat today at 1.3165 as weakness in the pound was offset by the decline in the US dollar. A survey of manufacturers from industry group EEF showed business confidence dropped in factories across Britain, particularly in south-east England and Wales.
But a Lloyds Banking Group survey showed business confidence regained some lost ground after falling to a four-and-a-half-year low immediately following the referendum.
“The latest GfK consumer confidence survey adds to the evidence from other post-referendum surveys that have warned of a potentially sharp correction in the economy,” said RBC economist Sam Hill.
The GfK survey was worse than all forecasts in a Reuters poll that suggested consumer confidence would tick up from a reading of -9 in a one-off “Brexit special” version of the survey published three weeks ago.
Shockwaves from Britain’s vote to leave the European Union rocked the economy on Thursday, with thousands of jobs lost at one of the country’s biggest banks, big extra costs for Ford, and consumer confidence plunging.
Preparing for a Brexit-related slowdown, Lloyds Banking Group (LLOY.L) said it would cut a further 3,000 jobs. One of Britain’s biggest car dealerships, Inchcape, predicted growth in new car registrations would fall.
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Monday, August 1, 2016
Country | Name | Volatility | Previous |
AUD | AiG Performance of Mfg Index | 2 | 51.8 |
AUD | TD Securities Inflation (YoY) | 2 | 1.5 |
AUD | TD Securities Inflation (MoM) | 2 | 0.6 |
CNY | Non-manufacturing PMI | 2 | 53.7 |
AUD | HIA New Home Sales (MoM) | 2 | -4.4 |
CNY | NBS Manufacturing PMI | 2 | 50 |
CNY | Caixin Manufacturing PMI | 2 | 48.6 |
EUR | Markit Manufacturing PMI | 2 | 53.7 |
EUR | Markit Manufacturing PMI | 2 | 51.9 |
GBP | Markit Manufacturing PMI | 2 | 49.1 |
USD | Markit Manufacturing PMI | 2 | 52.9 |
USD | ISM Manufacturing PMI | 3 | 53.2 |
USD | ISM Prices Paid | 3 | 60.5 |
USD | Construction Spending (MoM) | 2 | -0.8 |
Government Bond Auctions
Date/Time Country Type
Aug 2 JPY 10-Year JGB Auction -0.243%
Aug 2 USD 4-Week Bill Auction 0.270%