Market Comment - 18th October 2021

Posted by Stuart PritchardOctober 18, 2021

Good morning,

Chinese data out early this morning was a bit lack lustre. GDP growth cam in at 4.9% whilst analysts were predicting a 5.2% growth. On the flip side their Retail Sales data came in ahead of expectations at 4.4% growth against a 3.3% growth prediction. This has meant the markets have barely flinched.

The Pound continues it's strength against the Euro and remains at year highs. Therefore it could be a good time to exchange currency if you have a GBP to EUR trade that needs handling.

In fact the Euro looks weak against the Pound, the Dollar and the Swedish Krona, so property purchases in Spain and Portugal might be looking very attractive right now.

Looking ahead it's mainly US data to keep an eye on with the highlight being the Monthly Budget Statement. There's also the Bank of Canada's Deputy Governor giving a speech later that might affect the CAD rate.

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

CAN: 15:40 Bank of Canada speech

US: 18:00 Monthly Budget Statement

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