Market insights

The Fizz Comes Out Of The Pound - MI130324

After a fairly decent run the Pound has lost a bit of traction versus most major currencies.

Some of this will be down to technical selling, but there have been some news stories to support the decline.

In particular the US released a slightly higher than expected inflation reading yesterday of 3.8%. Whilst this was only a slightly higher number it takes a bit of pressure off the FED to decrease interest rates in the near future.

Outside of this there was an upbeat GDP reading in the UK this morning. Month on month growth has been reported as 0.2%

Today sees a fairly quiet day for scheduled news. There's European industrial production numbers out later and the RICS releases its house price balance just after midnight in the UK.

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Economic calendar

EUR: 10:00 Industrial Production

UK: Thursday 00:01 RICS House Price Balance

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

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