Sterling edges up from day’s lows; data, politics eyed (news: 10/07/18)

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Sterling edges up from day’s lows; data, politics eyed

LONDON (Reuters) – Sterling rose from the day’s lows on Tuesday though investors were wary of pushing it higher before data that may raise hopes of an interest rate hike in August and rising political uncertainty after the resignation of two top ministers.

China raises tariff rates for some U.S. optical fiber products, from July 11

BEIJING (Reuters) – China’s commerce ministry said on Tuesday it is raising “anti-dumping tariff rates” for some optical fiber products originating from the United States, effective on Wednesday, July 11.

Oil rises to $79 a barrel on Norway strike, Libyan disruption

TOKYO/LONDON (Reuters) – Oil prices rose by over 1 percent toward $79 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months.

German ZEW Economic Sentiment Index Deteriorates in July

Investing.com – The mood among German investors worsened in July, a survey showed on Tuesday.

Inflation rate faces risks, say Emefiele, others

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the nation may see a reversal of the decline in inflation rate if the risks threatening favourable macroeconomic conditions are not addressed.

UK economy picks up speed in May, according to new official data

The UK economy picked up speed in May, following the severe snow disruption earlier in the year, according to the latest data from the Office for National Statistics (ONS).

Next trading day’s important events

10:00 (GMT+3)  EMU – ECB President Draghi’s Speech

17:00 (GMT+3)  CA – BoC Interest Rate Decision

18:15 (GMT+3)  CA – BoC Press Conference

18:35 (GMT+3)  UK – BOE’s Governor Carney speech

Forex quotes:

USDJPY: 111.23

EURUSD: 1.172

Indices:

S&P 500: 2794.76

NASDAQ: 7776.27

 

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