Market insights

A Day Of Speeches - MI140624

The week saw a significant uplift in GBP/EUR rates topping at at 22 month highs.

The reason for this is the belief the Bank of England won't cut rates next week whilst the ECB has already announced its rate cut.

However the public commentary still thinks the rate is punching a bit....although that could be founded on hope rather than facts.

Against other major currencies it's a different story. GBP rates are finishing the week much as they started the week with plenty of turmoil through the week.

Besides a handful of central bank speeches today it's a relatively quiet day for scheduled news.

The highlight is the US Michigan consumer sentiment index mid afternoon, and going into Monday Rightmove releases its house price changes in the UK.

Business news suggests a slight slow down in the UK housing market with buyers supposedly expecting a rate cut soon, so are potentially holding off.

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Economic calendar

EUR: 10:00 ECB's Philip Lane Speech

EUR: 10:00 ECB's Luis De Guindos Speech

EUR: 14:30 ECB's Isabel Schnabel Speech

US: 15:00 Michigan Consumer Sentiment Index

EUR: 18:30 ECB's Christine Lagarde Speech

US: 19:00 FED's Austan Goolsbee Speech

UK: Monday 00:01 Rightmove House Prices

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

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