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.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.
Today’s Economic Calendar
US: 13:30 Inflation data
US: 13:30 Initial Jobless Claims
UK: 07:00 GDP data
© 2022. RegencyFX Ltd. All rights reserved. *Third party fees may apply.
Payment services for RegencyFX Ltd are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: The Steward Building 1st Floor, 12 Steward Street London E1 6FQ.
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). In the US Currency Cloud operates in partnership with CFSB. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc.