Market insights

Market Comment - 8th December 2022

Good morning,

GBP/EUR came off the boil a little yesterday. The Eurozone GDP came it at 0.3% growth so they managed to avoid the potential of contraction going into the announcement. With only a speech by ECB President, Christine Lagarde, this might be unlikely to change today without a news story unless the ECB boss delivers a Euro sensitive message.

GBP/USD remains locked in a sideways pattern. However the jobless claims out in the US later might change things.

Other than that it's a quiet day for scheduled news ahead of the Chinese inflation numbers in the early hours of tomorrow where analysts are expecting 1% growth.

Business news is much of the same except for Michael Gove approving a coal powered electricity plant. This will be the first new one for 30 years. Possibly won't go down too well in environmental circles, but underlines the issues with relying on foreign powers for our energy supply.

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Today’s Economic Calendar

EUR: 12:00 ECB' Christine Lagarde Speech

US: 13:30 Initial Jobless Claims

CHN: Friday 01:30 Inflation Numbers

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

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Economic calendar

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

Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.

Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.

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