Market insights

Market Comment - 24th November 2022

Good morning,

Yesterday saw the Pound respond very favourably to the Scottish Government losing the Indyref2 court case. The Supreme Court ruled that a further Scottish independence vote was a decision for Westminster only. This removed a deal of uncertainty which the Pound responded favourably to.

GBP/EUR rates were affected the most with the Pound making decent gains before giving some back this morning. However GBP/USD was affected less as the US posted generally better than expected financial data through the day.

Today could be quiet for GBP/USD as it's Thanksgiving in the US.

Other than that it's a bit of a yawnathon of speeches today from both the Bank of England and the European Central Bank. 3 speeches from members of the BoE and 2 from members of the ECB.

Outside of that it's Japanese inflation numbers and Germany releases it's GDP data at breakfast tomorrow where analysts are predicting quarter on quarter growth of 0.3%.


Today’s Economic Calendar

UK: 09:45 BoE's David Ramsden Speech

UK: 10:30 BoE's Huw Pill Speech

EUR: 11:15 ECB's Luis De Guindos Speech

EUR: 13:00 ECB's Isabel Schnabel Speech

UK: 13:45 BoE's Catherine Mann Speech

JPN: 23:50 Inflation Data

GER: Friday 07:00 GDP Numbers


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

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