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Market Comment - 15th August 2022

Posted by Stuart PritchardAugust 15, 2022

Good morning,

Business headlines continue to be dominated by the rising cost of energy with calls for extra taxes on oil companies....the same day that Aramco, the Saudi oil giant, has announced record quarterly profits of £39.8 billion. Staggering numbers.

Other than that it's been a quiet start to the week for the Pound which is trading sideways versus both the Dollar and the Euro.

With little scheduled news today rates are likely to be unaffected until 7am tomorrow morning when the UK employment and earnings are reported. Analysts are expecting average earnings to still be way below inflation at 5.2% and unemployment is expected to remain at 3.8%.

Today’s Economic Calendar

UK: Tuesday 07:00 Average Earnings

UK: Tuesday 07:00 Unemployment Number

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

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