The GBP/EUR rate is in a familiar dance that it's been in for the year so far. Constantly pushing the top end of the years range but without breaking out. For those people wanting to make a decent sized purchase in Europe, say a villa in Spain, this is frustrating. Everyone wants the best value for money. However there doesn't seem to be much in the scheduled news to make the breakout happen. Much more likely is the rate will retrace back into the mid term range. However a breaking news story could change that.
Against the Dollar the Pound is in a short term downtrend again and looks likely to retest recent lows as hopes of a solution to the Ukraine crisis start to dim with renewed conflict in the East of the country.
Business headlines are dominated by ongoing travel disruptions at a number of UK airports. Staff shortages are being blamed and reports suggest the disruption could continue for some time.
There's not much scheduled today for market news. However the early hours of Monday and breakfast time on Monday look interesting with China releasing its inflation data and the UK releasing its GDP and manufacturing numbers.
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
CHN: Monday 02:30 Inflation Data
UK: Monday 07:00 GDP Data
UK: Monday 07:00 Manufacturing Production