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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
The UK inflation rate came in at a whopping 10.1% this morning, and the Retail Price Index came in at 12.3%. This is a mixed bag of numbers. For the average consumer this is not so great as the cost of living runs ever onwards. However for those who either have RPI linked bonds or have their pensions linked to RPI this means their income or pension payments are staying in line with the cost of living. Interestingly the inflation number, in real terms, will be different from one person to another also. Anyone travelling a long distance to work by car could be much more affected than someone predominantly working from home due to increased fuel costs. However, overall, a bit of a bleak picture.
The inflation number had an immediate positive effect on the Pound although the gains, at this stage, have been given back quite rapidly. The inflation number pretty much guarantees further rate hikes by the Bank of England as they try to stave off trouble ahead and a recession looming.
Today is a big day for the Euro with employment and GDP data out. In the US there's also a raft of data out so there could be some moves for the Dollar. First it's retail sales followed by a speech by the FED's Michelle Bowman then the Federal Open Market Committee (FOMC) releases it's latest meeting minutes.
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Today’s Economic Calendar
EUR: 10:00 Employment Change
EUR: 10:00 GDP Data
US: 13:30 Retail Sales
US: 14:30 FED's Michelle Bowman Speech
US: 19:00 FOMC Minutes
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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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