Morning Update – 13/09/2017 – by Arjun Lakhanpal

Morning all.. Wall St opened firmer and stayed there in a relatively quiet session with the S&P closing up 0.34% and this risk on sentiment shifted into the Asian session where the Nikkei, helped by a weaker JPY closed up 0.5%. But it was again a quiet overnight session as the USD took a break from its recent climb overnight with most currencies range bound. GBPUSD was our out performer overnight coming in 0.2% stronger and hovering around the $1.3309 mark, a one year high against the USD. The currency remains higher off the back of a stronger-than-expected CPI print yesterday. In other asset classes, the S&P closed on another record high up 0.3% on Tuesday. Brent crude struggled to move past $54 a barrel yesterday despite API data showing that U.S inventories replenished to 6.18m barrels last week as the refineries recovered from weather disruptions. EM currencies mirrored a similar pattern to their G10 counterparts. The PBOC weakened CNY fix a further 0.15% to 6.5382. In the news Brexit negotiators have delayed Brexit talks to start of the 25th of September, it is speculated that this is because Theresa May is planning a public speech on her divorce strategy. Ahead today we have UK unemployment where the market is expecting the unemployment rate to remain constant a 4.4%. Investors also expect pay growth to have edged up from 2.1% to 2.2 and it is the wage data that everyone will be looking at after the rise in inflation data yesterday.. We also have Spanish CPI, Swedish GDP and EU Industrial production.. Good luck..