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Breakfast saw the UK inflation report. Analysts had expected annualised growth of 3.6%, but the actual number came in at 3.4%.
This didn't cause as much of a reaction in GBP rates as might have been expected.
A lower reading theoretically puts more pressure on the Bank of England to reduce the base rate.
However as the number is still well above the target of 2% this possibly hasn't affected the mid term view of the BoE.
Today continues the roller coaster ride of news for the week.
This evening sees the FED release its interest rate decision. It looks nailed on for them to keep their base rate at 5.5%. Expect shockwaves if it's any side of this.
This report precedes the Australian unemployment number out in the early hours of tomorrow where there's a consensus of a reduction from 4.1% to 4%.
Business news naturally settles on the inflation report. The main reason for the unexpected drop was in food prices. Consumers may remember the price war in the supermarkets for Christmas Day vegetables. This lowering of prices has also been passed on in restaurants it would seem.
US: 18:00 FED Interest Rate Decision
AUS: Thursday 00:30 Unemployment Rate
As ever we look forward to keeping you in the loop and look out for our next update.
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