Market Comment - 22nd July 2021

Posted by Stuart PritchardJuly 22, 2021

Good morning,

Straight to business today. Sterling appears to be shrugging off fears around Covid and the row over the Northern Ireland protocol. Overnight there have been gains against most major currencies including the Dollar, the Euro and the Yen. This bodes well. However the BOE's Broadbent has been commenting on inflation being surprisingly high this time around so that could take a bit of fizz out of things.

Looking ahead it's the ECB's rate decision at 12.45pm that could cause a bit of turbulence in the GBP/EUR rate with consensus suggesting a freeze at 0%. Any decision outside of that figure could have an effect.

This is closely followed at 13:30pm by the jobless claim numbers in the US alongside the ECB's press conference at the same time.

So after a bit of a boring week so far around scheduled data we've got a glut coming along all at once.

And if that's not enough to whet the appetite we've got the UK retail figures first thing tomorrow at 07:00am so an interesting 24 hours ahead.

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

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Todays Economic Calendar 

EUR: 12:45 - ECB interest rate decision

US: 13:30 - Jobless claims

EUR: 13:30 - ECB press conference

UK: 07:00 - Retail sales data

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