Business news continues to be dominated by the near term financial implications of the rising cost of living. A survey by the Money and Pensions Service suggests that a quarter of adults in the UK may have less than £100 in savings and that families could now be asked for help in supporting those affected by rising prices and energy costs. A rather bleak outlook for the short term future.
GBP/EUR and GBP/USD have seen a little recovery this morning after a difficult end to the week on Friday. The outlook for the UK, as suggested by the Bank of England, isn't too encouraging so any push to the upside for Pound rates is encouraging.
Eyes will certainly be turning to the US mid term elections being held tomorrow. Predictions suggest a move towards Republican seats over Democratic which could impair any future plans the incumbent President has for change.
Today sees a number of speeches by the FED ahead of tomorrow along with a reflection of shop prices in the UK in the early hours of tomorrow.
Today’s Economic Calendar
US: 20:40 FED's Susan Collins Speech
US: 20:40 FED's Loretta Mesters Speech
US: 23:00 FED's Thomas Barkins Speech
UK: Tuesday 00:01 BRC Like for Like Retail Sales
As ever we look forward to keeping you in the loop and look out for our next update.
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