The Pound continues its malaise - MI300823

August 30, 2023
The Pound continues its malaise - MI300823

With little scheduled news yesterday there looks to have been a bit of technical trading causing the Pound to drift lower versus the Euro. This was in counterpoint to the Dollar where the Pound has made modest gains. Maybe the data out today can start moving things along a bit.

There's European consumer confidence out followed by German inflation numbers. Analysts are expecting 6% annualised growth.

Over the pond there's preliminary GDP data out with annualised Q2 growth of 2.4%.

Going into tomorrow there's Japanese retail sales, so keep an eye on the Yen, followed by Chinese manufacturing data, and finally German retail sales at breakfast time.

Business news covers the ongoing fallout of the flight control glitch along with news out from Zoopla that the number of houses sold in 2023 is 20% lower than 2022.

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Economic calendar

EUR: 10:00 Consumer Confidence

GER: 13:00 Inflation Data

US: 13:30 Preliminary GDP Numbers

JPN: Thursday 00:30 Retail Sales

CHN: Thursday 02:00 Manufacturing Data

GER: Thursday 07:00 Retail Sales

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