Market insights

Pound Jumps On Inflation - MI170124

Breakfast saw a jump in the UK's inflation number.

Analysts had expected a further, modest decline. However, due to rising alcohol and tobacco prices, the rate inched up to 4%.

This has caused an immediate leap in Pound rates as it takes pressure off the Bank of England to drop the base rate.

Maybe the Eurozone inflation number at 10am will either correct the GBP/EUR rate or push it on further. Analysts are expecting a reading of 3.4%.

GBP/USD has taken a similar bounce, and with US retail sales numbers out later, that could be the mover.

After the retail sales numbers, it's back to the Euro with a speech from the President of the ECB, Christine Lagarde.

The early hours of tomorrow sees eyes shift to the Australian Dollar with their unemployment rate being reported. Analysts expect no change at 3.9%.

Business news covers the surprise bump in inflation in greater detail.

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Economic calendar

EUR: 10:00 Inflation Number

US: 13:30 Retail Sales

EUR: 15:15 ECB's Christine Lagarde Speech

AUS: Thursday 00:30 Unemployment Rate

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