This morning saw the UK inflation position improve...slightly. Whilst analysts predicted 10.6% growth the number was actually 10.5% growth which was better than the previous months 10.7%.
This has had a mixed bag of reactions in the FX markets. The Pound lost strength against the Euro, however the overall rate looks a little better in the last 24 hours. Against the Dollar the Pound goes from strength to strength and this mornings news had a positive effect for the Pound.
It's a fairly big day for news today. There's inflation numbers out from the Eurozone, retail sales from the US, a number of speeches by the FED, and finally employment data from Australia tomorrow in the early hours.
Business news concentrates on the UK inflation number which is a little misleading. The price of fuel has dropped slightly, but the price of food continues to rise at a strong rate. This obviously has a skewed set of overall outcomes for households dependent on their circumstances.
Today’s Economic Calendar
EUR: 10:00 Inflation Numbers
US: 13:30 Retail Sales
US: 14:00 FED's Raphael Bostic Speech
US: 14:30 FED's James Bullard Speech
US: 18:00 FED's Esther George Speech
US: 20:00 FED's Patrick Harker Speech
AUS: Thursday 00:30 Employment Data
As ever we look forward to keeping you in the loop and look out for our next update.
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