Market insights

Market Comment - 26th October 2021

Good morning,

This morning the GBP/EUR rate tried to break out to the upside. However the move hit serious resistance almost immediately pushing the rate back down to the top of the recent range. As we head into the budget tomorrow it could be 24 hours of volatility for the Pound rate versus the Euro and the Dollar.

At the moment the news ahead of the budget is relatively light. If any decent previews come out we will put a newsflash out.

Interestingly the Swedish Krona is softening a bit against both the Euro and the Pound. This was probably to be expected as rates very rarely move in a straight line and either profit taking or bargain buying step in.

Today returns to mainly US base data with House Prices and Consumer Sentiment numbers out this afternoon.

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

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Today’s Economic Calendar

US: 14:00 House Price Index

US: 15:00 Consumer Confidence

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