Market insights

US inflation expected to have increased today - Market Insight 10th August 2023

Analysts are predicting that the US inflation number will have gone up in July compared with June. The June figure showed annualised growth of 3% and was indicating a trend back down from the eye watering highs. However the July figure, reported today, is expected to show a return upwards to 3.3%.

GBP/USD has been trending sideways this week, so this figure could trigger a high degree of volatility.

Outside of that it's a quiet day....until breakfast tomorrow.

The UK steps up to the plate releasing preliminary GDP numbers, industrial and manufacturing production, and trade balance.

This could well shift the GBP/EUR rate which has also been moving in a sideways pattern.

Business news shows a relaxation in mortgage rates by the biggest lender, Halifax, along with reports that Brits are fleeing the poor Summer in the UK in favour of more guaranteed sun abroad.

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Economic calendar

US: 13:30 Inflation Number

UK: Friday 07:00 Preliminary GDP Number

UK: Friday 07:00 Manufacturing and Industrial Production

UK: Friday 07:00 Trade Balance

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

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