Market insights

Market Insight - 14th June 2023

UK GDP numbers out this morning showed month on month growth of 0.2%. Pubs and bars did well alongside education which bounced back from industrial action. However the Chancellor wasn't the biggest ball of optimism as he reiterated the danger of inflation in the UK.

GBP/USD and GBP/EUR both had a good day yesterday for Sterling with further increases against both those majors. And it's a general story across the board with the Pound doing well versus most currencies.

GBP/USD could shift in a big way around dinner time later. There's the FED's interest rate decision and their monetary policy statement. That's crowned with the Federal Open Market Committee press conference shortly after. Analysts are expecting the FED to keep the base rate at 5.25%. Any difference to that could see the Dollar react violently.

There's New Zealand GDP data out later with analysts expecting annualised growth of 2.6%.

The early hours of tomorrow sees both Australian unemployment numbers (3.7% expected), and Chinese retail sales data (13.7% annualised growth expected).

Business news now sees the subject of AI come up frequently. The PM, Rishi Sunak, has stated he wants the UK to be the hub of AI regulation as talk of dangers, ethics and discrimination within AI become the hot topics. Certainly it's an area that seems to be developing at a frantic pace.

Get your free quote now

Economic calendar

US: 19:00 FED Interest Rate Decision

US: 19:00 FED Monetary Policy Statement

US: 19:30 FMOC Press Conference

NZ: 22:45 GDP Numbers

AUS: Thursday 02:30 Unemployment Rate

CHN: Thursday 03:00 Retail Sales

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 for a no obligation quotation and see the savings for yourself.

Open a free account

It is free and easy