Market insights

UK Retail Sales Off - MI040624

The 0.4% growth is way off the expected 1.2%.

This could apply a small amount of pressure on the Bank of England to reduce rates over the Summer to boost the economy.

With respect to central bank rate cuts, the first one is expected on Thursday.

The belief is that the ECB will cut its base rate by 25 points from 4.5% to 4.25%.

In an otherwise quiet day of news eyes will be on the Southern hemisphere as Australian GDP is reported in the early hours of Wednesday.

Quarterly growth of 0.2% is expected.

Business news is equally thin. There's a smattering of news around the Tories stance for the general election, but as yet, there hasn't been much out from the Conservative camp ahead of July 4th.

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Economic calendar

AUS: Wednesday 02:30 GDP Report

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

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