Market Comment - 10th November 2021

Posted by Stuart PritchardNovember 10, 2021

Good morning,

Chinese inflation data came in pretty much in line with expectation. The consensus was 1.4% growth and the actual numbers came in at 1.5%. This meant the potential global ripples didn't come to pass and overnight trading was relatively quiet.

From the UK perspective and the GBP, this subdued activity is expected to continue ahead of the UK's GDP numbers out at breakfast tomorrow. Anyone sat on time sensitive GBP/EUR or GBP/USD trades might consider their position today ahead of the numbers at 7am tomorrow.

Ahead of that there's big US data out today being their Initial Jobless Claims, but more importantly their inflation data. Consensus is for 5.3% growth which could lead to potential rate hikes. We will be closely following those numbers today.

As ever we look forward to keeping you in the loop and look out for our next update.

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Today’s Economic Calendar

US: 13:30 Inflation data

US: 13:30 Initial Jobless Claims

UK: 07:00 GDP data

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