Market Comment - 17th January 2022

Posted by Stuart PritchardJanuary 17, 2022

Good morning,

The data out from China this morning was mixed. GDP year on year was expected to show 3.6% growth but came in at 4% growth. However Retail Sales were expected at 3.7% growth but came in at 1.7% growth. The outcome was a small amount of volatility in the GBP/CNY (Chinese Yuan) rate.

Today is a bank holiday in the States for Martin Luther Kings birthday so there shouldn't be much scheduled news to move the markets.

However the early hours of tomorrow sees the Bank of Japans interest rate decision along with a scheduled press conference. As the third largest economy in the world this will be a keenly watched set of data and information.

We also have the UK's unemployment numbers out at breakfast time tomorrow which could underline any potential rate hikes in early February.

From a news perspective all eyes are on the unfolding "Partygate" at No. 10. Boris Johnson has been interviewed by Sue Gray who is heading up the independent inquiry into the parties as the PM is alleged to have attended yet another shindig prior to Christmas 2020. The report is expected to be published later this 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.

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Today’s Economic Calendar

JPN: 03:00 Tuesday BoJ Interest Rate

JPN: 06:00 Tuesday BoJ Press Conference

UK: 07:00 Tuesday Unemployment Data

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