Market insights

Market Comment - 6th March 2023

Good morning,

Friday did see heightened volatility in GBP/USD rates. However the Pound came out on top making nice gains through later trading which have held this morning.

GBP/EUR rates have been less volatile. However there are the Eurozone retail numbers out later which could cause some shifts there.

It's news in the early hours of tomorrow and breakfast that could most affect Pound rates. There's retail sales numbers and house price data coming out.

Australian Dollar rates could also move overnight as the Reserve Bank of Australia announces it's interest rate decision and press statement. Analysts are predicting a hike to 3.6% from 3.35%

Business news focuses on the shortages being seen in some supermarkets and the cost of public transport increasing in the near future. There's also a smattering of anticipation around the UK budget next Wednesday 15th March. Based on the last couple of years it's likely most of the headlines will be broadcast prior to the actual budget itself.


Today’s Economic Calendar

EUR: 10:00 Retail Sales

UK: Tuesday 00:01 BRC Like for Like Retail Sales

AUS: Tuesday 03:30 RBA Interest Rate Decision

AUS: Tuesday 03:30 RBA Statement

UK: Tuesday 07:00 Halifax House Prices


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

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