Market insights

UK Retail Sales On The Horizon - MI191023

Before a lookback on the news overnight, let's focus on the scheduled news ahead that could easily affect Pound rates. And the current trajectory for the Pound is quite opposite depending which hemisphere you're in. Southern the Pound is generally gaining, and Northern the Pound is generally declining. A real mixed bag.

Looking ahead it's GBP/USD that will be in the spotlight with ongoing speeches from the Fed, including the Chair, Jerome Powell, and initial jobless claims in the US.

For Pound rates generally it's the early hours of tomorrow that sees UK consumer confidence data, retail sales and public sector net borrowing all by breakfast time.

Last night saw the Australian unemployment rate come in 0.1% better than expected at 3.6%, which had the effect of pushing the Australian Dollar down versus Sterling.

Business news returns to the ongoing impact of AI, and in particular the impact it could potentially have on the legal sector. Said sector is estimated to be the most affected of all by AI as programs can sift through case data in seconds that could take a human counterpart months to digest....the flip side being reported is the validity of the reports produced by AI.

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Economic calendar

US: 13:30 Initial Jobless Claims

US: 17:00 FED's Jerome Powell Speech

US: 18:20 FED's Austan Goolsbee Speech

US: 21:00 FED's Raphael Bostic Speech

US: 22:30 FED's Patrick Harker Speech

UK: Friday 00:01 Gfk Consumer Confidence

UK: Friday 07:00 Retail Sales

UK: Friday 07:00 Public Sector Net Borrowing

As ever we look forward to looking after you and please keep an eye out for our next Insight.

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