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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
Today sees a continuance of the decoupling between the GBP/EUR rate and the GBP/USD rate. The Pound continues to weaken against the Euro at the same time as strengthening against the Dollar.
With the US apparently turning the corner regarding inflation it could be assumed the FED won't raise interest rates any further. This has caused the Dollar to soften against most major currencies.
Retail sales numbers out after lunch in the US might have an effect on this. Analysts are expecting a month on month contraction of -0.4%.
There's a further speech from the Bank of England later as the international Monetary Fund (IMF) continues it's week long conference. Other than that it's a quiet run into the weekend after a decent run of numbers over the last couple of days.
Business news centres on a much awaited reduction in living costs. Both Tesco and Sainsburys are cutting the price of milk. Similar to previous big hikes in inflation it could lead to a supermarket price war as inflation turns a corner and starts reducing.
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Today’s Economic Calendar
US: 13:30 Retail Sales Numbers
US: 15:00 Michigan Consumer Sentiment Index
UK: 16:30 BoE's Silvana Tenreyo Speech
GLOBAL: Ongoing IMF Meeting
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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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