The UK GP data this morning came in ahead of expectations. Analysts had predicted a 0.4% growth however the actual number came in at 0.9%. This caused a quick surge in the GBP/EUR rate but this only brought the rate back into the resistance zone.
Versus the Dollar the rate remains relatively unchanged and is currently tracking sideways.
Of interest is that the Swedish Krona has been in the doldrums recently against both the Pound and the Euro. Following a relative period of strength the Krona has displayed weakness recently.
GBP versus the other majors is a similar story in that the rates are essentially tracking sideways at the moment. Maybe the outcome of the No. 10 party investigation could cause some volatility next week.
Today sees Retail Sales and the Michigan Consumer Sentiment Index numbers from the States. However it's the GDP and Retail numbers out from China in the early hours of Monday that could set the tone for next week.
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 Retail Sales
US: 15:00 Michigan Consumer Sentiment Index
CHN: 02:00 Monday GP Data and Retail Sales
© 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.