Market insights

Eurozone Interest Rate Decision - MI060624

The ECB is reporting its interest rate decision just after lunch.

Analysts are expecting the base rate to be cut by 25 points from 4.5% to 4.25%.

If this doesn't happen expect the Euro to jump versus the Pound.

Later in the afternoon there's the ECB press conference, and this has often been the catalyst for rate moves.

Up to this point Sterling has been in ascension, so it's going to be an interesting afternoon.

Before all that there's also the Eurozone retail sales figures out so watch this space for GBP/EUR today.

Today also sees the start of the European parliamentary election process, so Monday could also be another bumpy day for the Pound versus the Euro.

Going into tomorrow its Chinese import and export data out first before the Halifax releases it's house price report in the UK at breakfast time.

Business news centres on the chip giant Nvidia. All eyes are on the AI market right now as Nvidia positions itself second in global market cap to Microsoft, who are also heavily involved in AI through Chat GPT.

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Economic calendar

EUR: 10:00 Retail Sales

EUR: 13:15 ECB Interest Rate Decision

EUR: 13:45 ECB Press Conference

CHN: Friday 04:00 Imports and Exports

UK: Friday 07:00 Halifax House Prices

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

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