Market insights

Market Comment - 20th January 2023

Good morning,

It's been a tough start to the day for the UK economy. The consumer confidence reading came in at negative -45 against an expected -40 and retail sales came in at month on month negative -1% against an expected growth of 0.5%. It looks like the cost of living is kicking in even further as consumers are cutting back.

There hasn't been a huge effect against the Euro and the Dollar where rates versus the Pound remain similar to yesterday.

GBP/EUR could be affected by a speech by ECB chief, Christine Lagarde, shortly. Other than that there's a further ECB member speech later, but nothing else on the horizon until next week.

There's also a couple of speeches from members of the FED which could affect GBP/USD rates later in the day.

Over the weekend the Bank of Japan releases it's monetary policy meeting minutes and it's Chinese New Year.

Business news is dominated by further UK gloom with references to energy prices and analysis of the retail sales date out at breakfast.


Today’s Economic Calendar

EUR: 10:00 ECB's Christine Lagarde Speech

US: 14:00 FED' Patrick Harker Speech

EUR: 15:30 ECB's Frank Elderson Speech

US: 18:00 FED's Christopher Waller Speech

JPN: Sunday 23:50 BoJ Monetary Policy Meeting Minutes


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