Market insights

Pound Drops Sharply Versus The Dollar

Yesterdays data from the US may put further pressure on the FED to keep interest rates where they are.

This, in turn, caused the Greenback to gain sharply versus Sterling.

The Michigan consumer sentiment reading published later could change that. This number, for the US economy, is often seen as a fairly accurate estimate of either consumer confidence or lack thereof.

Around the same time there's a further speech from the ECB, although yesterdays similar speeches did little to affect GBP/EUR.

The early hours of Monday sees Rightmove, in the UK, release it's house price changes both month on month and annual. This could give some indication of whether the UK housing market is continuing to recover.

There's also Chinese retail sales and industrial production figures out early Monday. Given the size of the Chinese economy, and in particular it's export market, these figures will be keenly followed.

Business news is particularly thin on the ground at the moment with nothing of note, as yet, today to move the markets.

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Economic calendar

US: 14:00 Michigan Consumer Sentiment Index

EUR: 14:30 ECB's Philip Lane Speech

UK: Monday 00:01 Right House Price Index

CHN: Monday 02:00 Retail Sales

CHN: Monday 02:00 Industrial Production

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

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