Market Comment - 11th April 2023

April 11, 2023
Market Comment - 11th April 2023

Good morning,

Friday's non farm payrolls in the US came in broadly in line with expectations at 236k jobs gained in March. This led to GBP/USD starting this week much as it left last week.

Against most of the major currencies the Pound is generally tracking sideways at the moment with little volatility after a long weekend.

Chinese inflation numbers came in slightly lower than expectation at 0.7% annual growth. This saw GBP/CNH move to the upside.

Business news centres on the cost of living situation and the junior doctor industrial action. Like for like retails sales increased by 5.1% year on year which is encouraging. However most of that is cited to be because more people are entertaining at home rather than going out.

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Today’s Economic Calendar

EUR: 10:00 Retail Sales

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

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