Market insights

UK inflation drops again - Market Insight 16th August 2023

This morning saw the UK announce it's inflation number for July. The number came in at the expected annual growth of 6.8%. Therefore there has been little effect on Pound rates.

Later this morning there's Eurozone GDP data out which could effect Euro rates. Analysts are expecting quarter on quarter growth of 0.3%.

The Federal Open Market Committee (FOMC) releases it's meeting minutes later which could have some bearing on Dollar rates.

Going into tomorrow eyes will shift to the Australian Dollar as the Australian unemployment rate is reported in the early hours.

Business news centres on the inflation story in the UK with wholesale energy prices seen as the driver behind the drop.

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Economic calendar

EUR: 10:00 Preliminary GDP Data

US: 19:00 FOMC Meeting Minutes

AUS: Thursday 02:30 Unemployment Rate

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