Market insights

Market Comment - 29th November 2022

Good morning,

Today could be a lively day for GBP/EUR.

There's plenty on the table today to affect Sterling to the Euro. Throughout the day there's individual European countries announcing their inflation numbers. This started with Spain first thing where inflation was slightly less than expected at 6.6% growth when analysts were predicting 7.5% growth. This caused an immediate strengthening of the Pound.

However it's probably the numbers from Germany that will cause the biggest stir where analysts are predicting growth of 11.3% later.

There's also speeches through the day from both the Bank of England and the European Central Bank. The highlight of these is possibly the Bank of England Governor, Andrew Bailey, speaking later. This could well feature some response to the recent Autumn Statement.

As if that wasn't enough there's also European and US consumer confidence numbers, housing data from the States and Canadian GDP numbers where analysts are predicting annual growth of 3.5%.

The early hours of tomorrow keep the tempo up also. UK shop prices, Australian inflation (7.4% predicted), Chinese manufacturing and UK house prices at breakfast....hold onto your hats.


Today’s Economic Calendar

EUR: 10:00 Consumer Confidence

UK: 12:35 BoE's Catherine Mann Speech

GER: 13:00 Inflation Numbers

EUR: 13:30 ECB's Isabel Schnabel Speech

CAN: 13:30 GDP Data

US: 14:00 Housing Numbers

US: 15:00 Consumer Confidence

UK: 15:00 BoE's Andrew Bailey Speech

UK: Wednesday 00:01 BRC Shop Price Index

CHN: Wednesday 01:00 Manufacturing Data

UK: Wednesday 07:00 Nationwide Housing Prices


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

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