Market insights

Pound Slips Back In Early Trading - MI300124

The Pound, which has been showing a deal of strength recently, took a bit of a dip in early trading.

There was no scheduled news, so it appears to have been technical trading activity and potentially a bit of profit taking.

Things could get lively today for GBP/EUR rates as it's mainly Euro centric news scheduled.

German GDP is out shortly followed by broader Eurozone consumer confidence and preliminary GDP numbers. For the latter analysts are expecting quarterly contraction of -0.1% so this will be closely watched as technical recession is on the cards.

Heading into the early hours of tomorrow it will be the Australian Dollar in the spotlight as they report their inflation number. The expectation is for annualised growth of 4.3%.

To cap it all off there's German retail sales and the UK's Nationwide Building Society house price change at breakfast tomorrow.

Business news remains thin on the ground with the latest Brexit story still rumbling on regarding complex import routes into the UK.

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Economic calendar

GER: 09:00 GDP Report

EUR: 10:00 Consumer Confidence and GDP Number

AUS: Wednesday 00:30 Inflation Report

GER: Wednesday 07:00 Retail Sales

UK: Wednesday 07:00 Nationwide House Prices

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

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