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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Good morning,
Yesterday saw the ECB raise their base rate by the expected 0.75% to 1.5%. However the rhetoric around the decision making process seems to have been favourable for the Pound which gained nicely versus the Euro during the afternoon. Some of the fizz has come out of the GBP/EUR rate overnight, but still looks to be more favourable for the Pound than the Euro as things stand.
A slightly mixed bag for the US data yesterday, but overall the data released was almost in line with expectations so there were no fireworks in the GBP/USD rate.
EUR/USD is at an interesting level at the moment at close to parity. This is a rate being closely watched by anyone in the US looking to purchase in Europe.
Business news is relatively light going into the weekend. The political position in the UK has calmed down since the Chancellor pushed his economic statement back by a couple of weeks. Other than that the news that Elon Musk has finally closed the deal for Twitter seems to be grabbing the headlines although this is a news story rather than something that will move markets.
There's some scheduled news between now and Monday breakfast that could move the markets around. Germany releases its preliminary GDP numbers later followed by their inflation numbers. The Eurozone has their consumer confidence data and the US has a raft of reasonably interesting news out such as personal income and spending, the Michigan consumer sentiment index, and pending home sales.
On Monday morning at breakfast the Nationwide building society sets out its house prices in the UK.
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Today’s Economic Calendar
GER: 09:00 Preliminary GDP
EUR: 10:00 Consumer Confidence
GER: 13:00 Inflation Data
US: 13:30 Personal Income and Expenditure
US: 15:00 Michigan Consumer Sentiment
US: 15:00 Pending Home Sales
UK: Monday 07:00 Nationwide House Prices
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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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