Market insights

Market Comment - 24th April 2023

Good morning,

It was a volatile week for the Pound last week. A big surge for both GBP/EUR and GBP/USD on the back of the higher than expected inflation numbers, but that was given back during the rest of the week.

The drops were around poor retail sales numbers in the UK and better than expected data out from Europe and the States.

This morning saw Rightmove's House Price Index with 0.2% month on month growth and 1.7% year on year growth in house prices. This is an average over the country and doesn't account for individual areas such as the South West or London where growth or contraction can be very different to the average.

The rest of the day is relatively quiet for scheduled news, but eyes will be turning to the UK's public sector net borrowing position at breakfast tomorrow. Analysts are expecting the Government to have borrowed a further £23 billion in March due to ongoing measures to support household bills.

Business news continues to be a bit gloomy as the aftermath of the Credit Suisse Bank collapse is revealed. Over in the States there's news that a household retailer, Bed, Bath and Beyond, has filed for bankruptcy.


Today’s Economic Calendar

UK: Tuesday 07:00 Public Sector Net Borrowing


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

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