Market insights

All eyes will be on the UK inflation number - Market Insight 18th July 2023

There's plenty to talk about today with market news. However eyes will already be turning to breakfast time tomorrow when the UK releases its inflation number. Analysts are expecting annualised growth of 8.2%. However the Bank of England threw the kitchen sink at the interest rate decision last time raising it 0.5%. Therefore some will be hoping the inflation figure will be lower than expected.

GBP/EUR has been steadily falling recently so that number could be the catalyst for a substantial move.

Prior to that there's US retail sales, Canadian inflation (3.5% annualised growth expected), and New Zealand inflation (5.9% annualised growth expected).

Business news gives a round up of global events. The Hong Kong stock exchange is closed today due to Typhoon Talim. Staying in that neck of the woods the Chinese property developer, Evergrande, announces losses of £81 billion. And finally rail drivers have announced a further 6 days of industrial action starting 31st July.

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Economic calendar

US: 13:30 Retail Sales

CAN: 13:30 Inflation Data

NZ: 23:45 Inflation Data

UK: Wednesday 07:00 Inflation Data

As ever we look forward to looking after you and please keep an eye out for our next Insight.

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