Market insights

Pound Comes Off The Boil - MI161123

It's been a tough 24 hours for the Pound. Losing ground against most major currencies as the lower than expected inflation number sinks in.

With a quiet economy GDP wise, and lowering inflation (the Government has already reached it's target of halving inflation by the end of the year), it looks unlikely the Bank of England will raise interest rates again this side of Christmas.

The next interest rate decision isn't until 14th December, so there's some time to wait.

Today could see Euro rates chopping about with key speeches from members of the ECB including the President, Christine Lagarde.

The Dollar will also be in the spotlight with initial jobless claims numbers.

However, for anyone trading Sterling into another currency it's the UK's retail sales numbers out at breakfast tomorrow that could be a driver of volatility. Analysts are expecting annual contraction of -1.5%.

Business news returns to rail strikes. Whilst rail staff in general appear to have reached an agreement on pay it hasn't been agreed by Aslef members (train drivers). There are planned strikes in early December.

Get your free quote now

Economic calendar

EUR: 11:30 ECB's Christine Lagarde Speech

US: 13:30 Initial Jobless Claims

EUR: 14:15 ECB's Luis De Guindos Speech

UK: Friday 07:00 Retail Sales

As ever we look forward to looking after you and please keep an eye out for our next Insight.

Our friendly currency experts are always on hand to help you. We offer a first class service backed up by an easily accessible online platform to ensure you always have visibility of your transactions.

Our business ethos is based on bank beating and fantastic customer service. Click on the link above for a free, no obligation quote, and see for yourself how Regency FX can save you money.

Open a free account

It is free and easy