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Market Comment - 18th February 2022

Posted by Stuart PritchardFebruary 18, 2022

Good morning,

Storm Eunice is upon us. Parts of the UK move into a red warning from the Met Office regarding the weather. So far it's had no effect on the markets at all as would be expected. Besides insurance companies natural events rarely have much effect.

Retail Sales figures for the UK have been published this morning. Analysts were expecting growth of 8.7% year on year. However the actual number came in at 9.1% growth year on year. However it looks like fuel was a major contributor to that.

This has caused initial volatility in the GBP rates. However nothing of any real note as GBP versus the global major currencies remains largely range bound. GBP/EUR still remains towards the top of the range but not looking likely to break out.

Today sees a couple of speeches by ECB members that could affect the Euro rate, but other than that it's a day of storm watching and weather eyes on the Ukraine situation.

The early hours of Monday sees some interesting data out. First is the UK's Rightmove House Price Index followed by China's interest rate decision so we might see some volatility early Monday.

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

EUR: Through the day ECB speeches

UK: Monday 00:01 Rightmove House Price Index

CHN: Monday 01:15 PBoC Interest Rate Decision

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