Market insights

Huw Pill Takes Centre Stage - MI161023

Today sees a speech from the Bank of England member, Huw Pill. Why is this important? This is the member that caused huge moves for the Pound recently when he stated that UK consumers need to understand that they are much poorer than they think they are. He did retract the statement later. It will be interesting to see if he moderates his thoughts today.

Overnight, Rightmove released it's house price information showing a modest year on year contraction of -0.8%, but a more encouraging month on month growth figure of 0.5%. This reinforces the possibility that the UK economy is on the mend. Certainly the inflation number on Wednesday will be key.

Other than that it's New Zealand inflation numbers out tonight followed by UK average earnings at breakfast tomorrow.

Business news remains fairly thin on the ground today, and it looks like it's only a global news story that might significantly affect currency markets.

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Economic calendar

UK: 09:30 BoE's Huw Pill Speech

NZ: 22:45 Inflation Number

UK: Tuesday 07:00 Average Earnings

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