The US inflation report came in at 3.5% yesterday against the expected 3.4%.
This caused the Dollar to leap 1.25% versus the Pound.
In FX terms that's a massive jump. It will be interesting to see if the jump holds.
Today it's the turn of the Euro.
Just after lunch there's the ECB interest rate decision. Analysts are convinced the rate will be held at 4.5%.
It's extremely unlikely it will be either side of that, but if it is, watch this space.
More interesting will be the ECB press conference shortly afterwards where there will either be dovish (rates predicted to go down) or hawkish commentary.
And that's not the end of a massive 24 hours of news.
The early hours of tomorrow sees Chinese import and export data, but it's breakfast time where it's all going to happen.
All at the same time there's a speech from a member of the Bank of England, monthly GDP, industrial and manufacturing production, and the trade balance.
Buckle up.
EUR: 13:15 ECB Interest Rate Decision
EUR: 13:45 ECB Press Conference
CHN: Friday 04:00 Import and Export Data
UK: Friday 07:00 BoE's Megan Greene Speech
UK: Friday 07:00 Import and Export Data
UK: Friday 07:00 Trade Balance
As ever we look forward to keeping you in the loop and look out for our next update.
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