Analysts at TD Securities offered a snapshot of key themes in the FX space from overnight.
Key Quotes:
“USD Consumer confidence slipped to 126.4 in June from 128.8 (revised from 128.0), missing the market consensus for an unchanged print. Details showed a modest pullback in expectations while consumer sentiment on current economic conditions was little changed from May. The labor market differential edged slightly lower to 25.1 though this remains the second highest level of the cycle.”
“GBP Incoming External MPC member Jonathan Haskel is currently appearing before the Treasury Select Committee for his confirmation hearing, and has shied away from any commitment to policy moves, noting in his written evidence that “it would be premature to express a view”, but “I agree with the broad direction of travel”. It suggests he won’t take as hawkish a view as Ian McCafferty, who he is replacing in late-August, and who also delivered a speech this morning. McCafferty’s speech maintained his hawkish stance, arguing for an imminent rate hike.”
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