Market insights

Pound In Freefall Over PM

The recent local elections in the UK sent shockwaves through the Labour Party.

Calls for the Prime Ministers resignation are ringing around Whitehall.

On the back of this the Pound is taking a bit of a hammering.

If the PM does depart, all trading eyes will be on his potential successor before bets are placed on Sterling.

Whilst the political story is the big news right now, there's still plenty of scheduled activity to sway rates.

US inflation is expected to start showing the impact of rising oil prices later today with annualised growth of 3.7% anticipated.

Then it's Eurozone and UK GDP numbers on Wednesday and Thursday respectively.

US retail sales rounds the week off later Thursday, so plenty of opportunity for volatility this week.

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Economic calendar

US: 13:30 Inflation Report

EUR: Wednesday 10:00 Preliminary GDP Report

UK: Thursday 07:00 Preliminary GDP Report

US: Thursday 13:30 Retail Sales Numbers

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

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