Market insights

Pound jumps on UK job data - MI141123

This morning saw the UK release it's average earnings and it's unemployment rate. Average earnings were up 7.7% against a previous inflation number of 6.7% which is positive. Unemployment came in at the expected 4.2%.

Overall this has seen a slight jump in Pound rates against most major currencies.

Today sees heavy Euro and Dollar news. First there's Eurozone unemployment and GDP numbers. For the latter the expectation is for a quarterly contraction of -0.1%.

After this it's US inflation numbers. Analysts are expecting annualised growth of 3.3%.

Breakfast tomorrow sees the UK release it's much anticipated inflation number. All eyes will be on this. The prediction is for annualised growth of 4.8%.

There's a very good chance of volatility in money markets in the next 24 hours.

Business news naturally settles on the wage growth and tomorrows inflation number alongside rumblings in China that outflow of funds is now greater than inflows from foreign investors.

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Economic calendar

EUR: 10:00 GDP Numbers

EUR: 10:00 Employment Data

US: 13:30 Inflation Number

UK: 13:45 BoE's Huw Pill Speech

JPN 23:50 GDP Numbers

CHN: Wednesday 02:00 Retail Sales

UK: Wednesday 07:00 Inflation Number

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