Market insights

Pound Holding Versus The Euro - MI080324

Whilst the budget held few surprises it's resulted in a continuance of the market trends prior to it.

If we look at GBP/EUR we see that the rate continues it's sideways trajectory towards the top of the annual range. Possibly the Eurozone GDP number out this morning could change that. Analysts are expecting a flat quarter on quarter.

GBP/USD is a different kettle of fish with the Pound in ascendency. March has been a good month so far for anyone wanting to buy Dollars. It's the good old non farm payrolls out after lunch in the US that might move things there. Expectations are for 200k jobs to have been gained in February.

Over the weekend there's Chinese inflation numbers out. Last time saw annualised contraction, but that's predicted to be turned into a 0.3% growth reading this month.

Business news continues to centre around the budget and what it means to consumers with a mixed bag of rhetoric meaning most reports are conflicting between it saving households money, whilst others believe annual bills will still be higher this year. Sounds about right.

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Economic calendar

EUR: 10:00 GDP Numbers

US: 13:30 Non Farm Payrolls

US: 13:30 Average Earnings

CHN: Saturday 01:30 Inflation Report

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

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