Market insights

Market Comment - 18th November 2022

Good morning,

Yesterdays Autumn statement was something of a storm in a teacup from a markets perspective. Most of the salient news was already baked into rates and the actual statement didn't push any boundaries at all so the volatility was relatively light.

This means GBP/EUR remains locked in the previous sideways channel. The same can be said of GBP/USD where volatility has died down to almost nothing.

Interestingly there was a glimmer of hope for the UK economy this morning. Month on month retail sales had expected to show exactly zero growth. However the actual figure came in at 0.6% growth. Not a huge number but a possible indication consumers are being careful, but not staying away from the shops altogether.

Today sees a speech by a member of the Bank of England before a very quiet weekend for scheduled news. Monday morning opens early with the People's Bank of China delivering their interest rate decision.


Today’s Economic Calendar

UK: BoE's Jonathan Haskell Speech

CHN: Monday 01:15 PBoC Interest Rate Decision


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

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