Market Comment - 26th July 2022

Posted by Stuart PritchardJuly 26, 2022

Good morning,

As we expected it was a quiet day for Pound rates yesterday. If anything they climbed slightly versus the Dollar and the Euro, but no real moves.

Business headlines continue with the cost of living theme with a call that the Cost of Living payments being issued won't actually cover bills, Walmart issuing a profit warning and Amazon raising it's Prime service by £1 per month. All of these are signals of potentially difficult times ahead.

However we don't expect Pound rates to move much today without a global news story. Against the Dollar is favourite for a bit of volatility as it's US led data all day with house price, consumer confidence and new home sales numbers out today. Early tomorrow the UK releases its BRC shop price index which indicates price action at popular retail outlets.

Today’s Economic Calendar

US: 14:00 Housing Price Index

US: 15:00 Consumer Confidence

US: 15:00 New Home Sales

UK: Wednesday 00:01 BRC Shop Price Index

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

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