Market insights

Market Comment - 15th March 2023

Good morning,

Potentially the day of days for the Pound.....UK budget day. So what do we expect so far.....

The budget is expected to be delivered at 12.30pm UK time. The theme of the budget is expected to centre on "back to work". This will come in a number of forms from actual back to work to keeping skilled people in work longer.

In the budget we may see increases in maximum pension contributions and overall pension pots. Currently capped at £40k pa and £1.07 million respectively. There's also thought to be reforms to childcare and benefits to encourage people into work.

Help with energy costs are also expected to continue although the outlook is for energy prices to start dropping towards the end of the year which should alleviate some of the difficulties facing the Government.

The question marks seem to be around whether the chancellor will proceed with the Conservatives pledge to hike corporation tax from 19% to 25% and whether there will be a hike in petrol duty. Only time will tell.

Outside of this there's also plenty to keep FX markets occupied. Retail sales out in the States, New Zealand GDP numbers, Japanese import data and the early hours of tomorrow sees the Australian employment change.


Today’s Economic Calendar

UK: 12:30 UK Budget

US: 12:300 Retail Sales

NZ: 21:45 GDP Numbers

JPN: 23:50 Import Data

AUS: Thursday 00:30 Employment Numbers


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

Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.

Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.

Get your free quote now

Economic calendar

Open a free account

It is free and easy