Market Comment - 9th November 2021

Posted by Stuart PritchardNovember 9, 2021

Good morning,

The GBP/EUR rate has improved nicely in the last 24 hours as the reaction to the interest rate decision has been fully priced in. Initially the news took the froth off the coffee for the Pound but now it looks like the Pound might start gaining again over the coming few days.

It's a similar story against the Dollar, the Australian Dollar and the Swedish Krona. The Pound appears to be slightly in favour right now.

Today it's all about the speeches. First out of the traps is the ECB's President, Christine Lagarde. This is followed by the FED's Jerome Powell and finally the Bank of England's Governor, Andrew Bailey. This could very well cause some volatility through the day an maybe push rates in a particular direction again. We will be closely following this throughout the day.

The early hours of tomorrow sees the Chinese inflation data out that could create ripples globally so tomorrows open could be interesting.

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: 13:00 ECB Lagarde Speech

US: 14:00 FED Powell Speech

UK: 16:00 BoE Bailey Speech

CHN: 01:30 Inflation Data

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