Market Comment - 9th August 2022

Posted by Stuart PritchardAugust 9, 2022

Good morning,

After the initial capitulation on GBP/EUR rates following the Bank or England press conference, the rate has now found some stability. At the moment it's tracking sideways towards the upper of the mid term range. There's German inflation data out at breakfast tomorrow, but other than a global news story it's difficult to see much volatility today with this rate.

GBP/USD remains similar although the capitulation there in the rate was rapidly gained back and, again, rates are generally tracking sideways.

There is some US led data out at late lunch time but it doesn't look like it would affect rates much.

Other than that it's a quiet day for scheduled news overall, but there will be eyes on the Chinese inflation numbers out in the early hours of tomorrow.

Today’s Economic Calendar

US: 13:30 Non Farm Productivity

CHN: Wednesday 02:30 Inflation Data

GER: Wednesday 07:00 Inflation Data

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

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