Market insights

Market Comment - 25th April 2023

Good morning,

The public sector net borrowing in the UK came in slightly better than expected this morning at £21.5 billion. That's still pretty eye watering. Help with energy bills is being cited as the main reason. Interestingly this had an immediate negative effect on Pound rates, but the dips were gained back quickly.

Overall roundup:

GBP/EUR - rates remain towards the bottom of the longer term range

GBP/USD - The Pound has been gaining strength recently

GBP/AUD - The Pound has been gaining strength recently

GBP/CAD - The Pound has been gaining Strength recently

Today sees a speech by the Bank of England's Ben Broadbent followed by US consumer confidence. Later there's New Zealand import and export numbers before Australian inflation data in the early hours of tomorrow. Analysts are expecting an annualised rate of 6.6% growth.

Business news centres on further fallout from the US banks as more data is revealed about the recent runs on some of their banks. In the UK it's about those who qualify for cost of living payments and a more detailed dive into the public sector net borrowing.


Today’s Economic Calendar

UK: 10:00 BoE's Ben Broadbent Speech

US: 15:00 Consumer Confidence

NZ: 23:45 Imports and Exports

AUS: Wednesday 02:30 Inflation Data


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

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