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Good morning,
US inflation came in in line with expectation at 5.5% annualised growth whilst Chinese inflation came in closer to zero at 0.1% annual growth. This didn't have a huge effect on global rates.
GBP/EUR has moved into a sideways trajectory ahead of the UK's interest rate decision at early lunch. Analysts are predicting a 0.25% hike to 4.5% and for the monetary policy committee to vote in favour of the hike 7 in favour to 2 against. Any numbers outside of this could have a drastic effect on Pound rates.
This data is followed by a speech by the Bank of England Governor, Andrew Bailey. In the past couple of months it's been his scheduled speech that has had the most effect on Sterling rates.
In the US there's a decent bit of news out too. There's initial jobless claims followed by a speech from the FED.
Outside of this a couple of members of the ECB are also giving speeches through the day.
If that wasn't enough for the Pound there's a huge amount of UK data out at breakfast tomorrow morning. The headline is the preliminary GDP number out where economists are expecting quarter on quarter growth of 0.1%. There's also industrial and manufacturing production along with the trade balance.
Business news concentrates on the upcoming interest rate decision.
UK: 12:00 BoE Interest Rate Decision
UK: 12:00 MPC Vote Count
UK: 12:00 Monetary Policy Summary
UK: 12:30 BoE's Andrew Bailey Speech
EUR: 13:00 ECB'S Isabel Schnabel Speech
US: 13:30 Initial Jobless Claims
US: 15:15 FED's Christopher Waller Speech
EUR: 18:30 ECB's Luis De Guindos Speech
UK: Friday 07:00 Preliminary GDP Data
UK: Friday 07:00 Industrial and Manufacturing Production
UK: Friday 07:00 Trade Balance
As ever we look forward to keeping you in the loop and look out for our next update.
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