Market insights

Market Comment - 27th January 2023

Good morning,

Yesterday was a storm in a teacup for the Dollar. Huge amounts of data out....and GBP/USD hardly flinched. This was unexpected. In particular the durable goods orders for December were much better than expected. Consensus was 2.5% growth and the actual number was 5.6% growth.

The US is rolling the dice again today with the news. It's personal income and expenditure first followed by consumer sentiment and pending home sales.

There's little out from Europe or the UK today although it heats up a bit after the weekend with Germany announcing it's preliminary GDP numbers early Monday. Analysts are predicting quarter on quarter contraction of -1.1%.

Business news centres on todays speech by the Chancellor, Jeremy Hunt. The expectation is he needs to focus on growth and the potential benefits Brexit unlocks by being free from European rules.


Today’s Economic Calendar

US: 13:30 Personal Income and Spending

US: 15:00 Michigan Consumer Sentiment

US: 15:00 Pending Home Sales

GER: Monday 07:00 Preliminary GDP Numbers


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

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