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Forex Focus on UK Election and ECB

EUR to GBP
EURGBP Rebounds

It’s election day in the UK today and traders will focus on GBPUSD as it trades at nine-month highs. Jerome Powell in the presser after the FOMC meeting that kept interest rates unchanged said that the economy and monetary policy are in a good place. Powell’s comments send the US dollar lower across the board.

In our forex calendar today we have the Swiss government economic forecasts at 6:45GMT. The Germany November final CPI data will be out at 7:00 GMT. Switzerland November producer and import prices will be released at 7:30GMT. France November final CPI figures are due at 7:45GMT. SNB December monetary policy decision will be released at 8:30GMT. Eurozone October industrial production data will be out at 10:00GMT.

The  ECB December monetary policy decision will be released at 12:45GMT, followed by the press conference of ECB president Lagarde at 13:30GMT.

In the American calendar we await the U.S. PPI m/m, Core PPI m/m, Initial Jobless Claims, Continuing Jobless Claims all due at 13:30GMT.

The Bank of Canada Governor Poloz will deliver a speech at 17:40GMT.

Earlier today we had the release of Japan Machinery Orders (MoM) which came in at -6% below expectations of 0.9% in October, the yearly orders came in at -6.1% below expectations of -1.8% in October.

The Japan Foreign Investment in Japan Stocks dropped to ¥-200.4B in December 13 from previous ¥394B,  the Foreign Bond Investment came up to ¥235.8B on December 13 from the previous ¥-511.1B.