Market insights

Pound Back To Highs Versus Euro - MI300424

Sterling, which looked to be under considerable pressure last week has already returned to near year highs versus the Euro.

It just shows how quick rates can either run in your favour or against you.

It goes back to the old adage....take the trade. Without the benefit of a crystal ball, it's always difficult to know exactly when the rate will be in your favour or not.

Waiting for a rate because you're convinced it's going to get to a certain level can sometimes be a fools errand.

Today could see even further volatility for GBP/EUR with preliminary Eurozone inflation and GDP numbers out this morning.

For inflation the prediction is for annualised growth of 2.4%, and for GDP it's expected quarterly growth of 0.1% will be reported.

After that it's over to the US for their consumer confidence reading, before a big leap globally to New Zealand.

Late tonight there's the New Zealand unemployment rate.

Breakfast tomorrow sees the Nationwide report house price changes in what looks to be a lively 24 hours.

Business news goes back to the old faithful repercussions of Brexit. The latest stories are around the increased costs around import and export checks, and who is going to fit the final bill.

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Economic calendar

EUR: 10:00 Preliminary Inflation Report

EUR: 10:00 Preliminary GDP Data

US: 15:00 Consumer Confidence

NZ: 23:45 Unemployment Rate

UK: Wednesday 07:00 Nationwide House Prices

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

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