Market Comment - 28th October 2021

Posted by Stuart PritchardOctober 28, 2021

Good morning,

Ok, so things appear to have calmed down following the budget yesterday. This was probably to be expected with most of the headlines already in the public domain before the actual speech!

The GBP/EUR rate remains steady and technically range bound. Plenty of volatility yesterday as expected but looks to have been a storm in a teacup. It's the same with the GBP/USD rate. Relatively steady.

However there is plenty of Euro news on the horizon today. First there's the ECB interest rate decision followed by the ECB press conference. Eyes will certainly be on this this month as inflation has been steadily rising. It's unlikely to change today, however chatter is building that interest rates might start to rise in the near future as central banks endeavour to curb inflation.

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: 12:45 ECB interest rate decision

EUR: 14:40 ECB press conference

GER: 09:00 GDP data

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