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.
Today’s Economic Calendar
EUR: 12:00 ECB' Christine Lagarde Speech
US: 13:30 Initial Jobless Claims
CHN: Friday 01:30 Inflation Numbers
As ever we look forward to keeping you in the loop and look out for our next update.
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