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Market Comment - 25th October 2021

Posted by Andy DyerOctober 25, 2021

Good morning,

The GBP/EUR rate came under fire earlier today dropping below the recent technical resistance line. It's recovered slightly again but reinforces the point that a correction may be imminent on the back of the strong push through October. The next 24 hours should be telling.

The news this week will be centred around the budget. Historically the headlines have been kept under wraps until the Chancellor makes the speech. However recent political updates have been relatively pre announced, so expect the same for the budget.

Outside of that it's a relatively quiet day data wise with just the ECB Bank Lending Survey out at breakfast time tomorrow.

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: 08:00 ECB Bank Lending Survey

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