The GBP/EUR rate continues to slip overnight with the Euro gaining against the Pound at the moment. This could be an attractive position for anyone wanting to change Euro's to Sterling in the near future.
This could be affected later today as the ECB President, Christine Lagarde, gives a speech.
The data out earlier today was generally buoyant. Chinese retail numbers came in at 6.3% growth when analysts were expecting 3% growth. Here in the UK the unemployment rate has come in at 3.9% which is better than the predicted 4%. Also average earnings are seen to be slightly ahead of expectations.
The GBP/USD rate continues to look weak with the Greenback dominating the Pound at the moment. Again this looks good for anyone wanting to convert USD to GBP.
The Ukraine situation continues to dominate headlines at the moment as expected with new revelations about Oligarchs such as Roman Abramovich coming out.
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
EUR: 15:15 ECB President Speech