Market insights

GBP/EUR Trying For Year Highs

The Pound has made a couple of attempts to break to year highs versus the Euro.

With European consumer confidence and German inflation data out later, today could be the day to break out or fall back.

Germany is expected to report 2.1% annualised growth.

Eyes will then turn to the Dollar with US GDP numbers out.

2.8% quarterly growth is expected.

So it's a big 24 hours of news for currency markets that travels into the early hours of tomorrow with Japanese inflation and Australian retail sales.

However, for those that are risk averse, it could be the Eurozone inflation number out after breakfast tomorrow that makes the decision on exchanging Euros.

Analysts are predicting annualised growth of 2.2%.

Business news reflects on the fizz coming out of the US tech sector with Nvidia, the chip manufacturer, suffering losses.

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Economic calendar

EUR: 10:00 Consumer Confidence

GER: 13:00 Inflation Report

US: 13:30 GDP Data

JPN: Friday 00:30 Inflation Report

AUS: Friday 02:30 Retail Sales

EUR: Friday 10:00 Inflation Report

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

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