Market insights

Market Comment - 23rd November 2022

Good morning,

Today sees a raft of data following a couple of quiet days for scheduled news. Throughout the day there's the S&P global services and manufacturing purchasing managers indices reported for the UK, Europe and the US. There's also employment numbers and durable goods orders from the US. As if that wasn't enough there's also a couple of speeches by a member of the Bank of England, speeches from the Bank of Canada and consumer sentiment, again, from the US.

Therefore it could be a turbulent day in the markets today.

The GBP/EUR rate looks to have failed momentarily against technical resistance so there's been a bit of a pull back in the rate over night.

GBP/USD remains locked in the sideways pattern it's been in for the week although todays glut of data may have an effect. With Thanksgiving Day tomorrow the moves are likely to be felt today.

Other than that business news continues to feature the cost of living situation and the scheduled rail strikes around Christmas.


Today’s Economic Calendar

EUR: 09:00 S&P Global Services and Manufacturing PMI

UK: 09:30 S&P Global Services and Manufacturing PMI

US: 13:30 Durable Goods Orders

US: 13:30 Employment Data

US: 14:45 S&P Global Services and Manufacturing PMI

US: 15:00 Michigan Consumer Confidence Index

UK: 15:30 BoE's Huw Pill Speech

US: 19:00 Federal Open Markets Committee Minutes

UK: 19:00 BoE's Huw Pill Speech


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

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