Market insights

Pound Jumps On Inflation

Breakfast today saw the UK release its inflation number.

Annualised growth came in at the expected 2%.

This has caused a small, but significant jump in Sterling rates as it brings into question whether the Bank of England will cut the base rate in August or not.

However this could be a brief position for GBP/EUR as the Eurozone inflation number comes out mid morning.

Analysts are predicting annualised growth of 2.5%.

After that it's all US led data before the early hours of tomorrow.

The highlights up to breakfast are the Australian unemployment rate followed by the same report from the UK at breakfast time.

Predictions are for 4% and 4.4% respectively.

Business news covers the inflation number today in more detail. Services such as restaurant and hotel prices have soared, whilst food and clothing costs have dropped creating the perceived balance of 2%.

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Economic calendar

EUR: 10:00 Inflation Report

US: 13:30 Housing Starts

US: 14:35 FEDs Christopher Waller Speech

AUS: Thursday 02:30 Unemployment Rate

UK: Thursday 07:00 Unemployment Rate

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

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