On the back of the UK data out this morning the GBP/EUR rate hasn't moved the numbers were marginally below expectations but after a bit of a bashing after the move to Plan B. It's the same versus the other majors. Ripples but no waves.
Other than that the news is relatively thin on the ground today. UK news is still mired in the No 10 office party story which indicates there's not much on the table today. We are keenly watching for any further Omicron news.
It feels like the markets are paused for impending inflation numbers and interest rate decisions from around the globe or the potential for escalation around the new strain.
Looking ahead, as mentioned, eyes will be on the US inflation numbers out later which could provide a bead on the FED's interest rate decision next week. Analysts are expecting 4.9% growth which is way beyond the normal although mitigating factors need to be added for year on year figures due to lockdowns.
As ever we look forward to keeping you in the loop and look out for our next update.
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Today’s Economic Calendar
US: 13:30 Inflation data
JPN: Sunday 23:50 Tankan Large Manufacturing Index