This morning, the NZD/USD is experiencing heavy selling despite inline Chinese economic data. The NZD/USD is down 0.61%.
By contrast, the Australian dollar is performing well, with the AUD/USD rising against yesterday’s losses. The AUD/JPY is following tack.
The pound continues to underperform ahead of today’s headline inflation figures where CPI is expected to rise to 3.1%. The EUR/GBP continues to make gains.
The US dollar is also making gains against the Canadian dollar, with the USD/CAD rising for the last two days.
This morning, we have UK inflation at 09.30, with CPI, PPI and RPI expected to increase.
ECB President Draghi speaks at 10.00. BOE governor Carney, BOJ governor Kuroda and US Fed Chair Yellen are due to speak at the same time.
Also at 10.00, we get German ZEW economic sentiment and European sentiment at the same time.
At 13.30, we get US PPI and Core PPI.
MPC member Cunliffe speaks at 17.30.
Key UK inflation data is due today, but this aside, there is a good chance that the GBP/USD remains range-bound for the coming weeks.
The UK parliament is set to debate the Brexit withdrawal bill, but this is being broken down into its complex components and could take weeks in total.