The Pound falters against the Euro - Market Insight 17th July 2023

July 17, 2023
The Pound falters against the Euro - Market Insight 17th July 2023

The Pound has started the week dropping off versus the Dollar and the Euro. It looks like a technical pull back at this stage with little scheduled news to support the sell off.

However there are a number of speeches from the ECB today that could affect GBP/EUR rates. Most notable will be by the President of the ECB, Christine Lagarde, out shortly.

The rest of the day looks fairly quiet for diarised news, so there might not be too much volatility today.

The early hours of today saw a mixed bag of results. In the UK Rightmove reported a month on month contraction in house prices of -0.2%. China reported a stronger than expected quarter on quarter GDP reading of 0.8% growth.

Business news returns to the topic of artificial intelligence. Lay offs are starting to happen in the job market and the potential for replacing those jobs with roles to support the AI environment look to be far and few between.

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Economic calendar

EUR: 09:15 ECB's Christine Lagarde Speech

EUR 09:30 ECB's Philip Lane Speech

EUR 09:30 ECB's Fabio Panetta Speech

EUR: 13:15 ECB's Frank Elderson Speech

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