Market insights

Pound Drops On UK Retail Sales - MI171123

Breakfast saw the UK retail sales numbers reported. Analysts had expected monthly growth of 0.3%, and instead there was a -0.3% contraction.

This initially hit the Pound quite hard.

Rates have appeared to stabilise for now.

GBP/EUR looks to have the most potential for volatility today with a speech from the ECB President, Christine Lagarde, and harmonised inflation data out from the Eurozone.

Other than that scheduled news is relatively light heading into the weekend.

Business news centres on the upcoming Autumn budget. Analysts believe the Chancellor has around £10 billion headroom to play with. This is a result of super high inflation that leads to bigger than normal VAT inflow.

Get your free quote now

Economic calendar

EUR: 08:30 ECB's Christine Lagarde Speech

EUR: 10:00 Harmonised Inflation Numbers

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