Good morning. Yesterday was quiet in the markets due to the US holiday. Sterling has risen very slightly against the Euro. Today with all the talk of a Currency War, we'll watch our dealing director on CNBC. He discusses with the Bank of England's MPC member their policy of de-valuing the pound. At 08:30am rates are as follows:
For the UK, we have consumer prices which are an inflation indicator, and this may well have an impact on Sterling. We expect an annual change of 3.1% and no monthly change. If it's more than this expect the pound to climb. Less, and we'll probably see it fall.
We also have Retail sales and Trade Balance data, all of which may affect the value of Sterling. Also of note for the UK, is the Nationwide Consumer confidence survey, which does exactly what it says on the tin. High consumer confidence will boost Sterling. EU data comprises of German CPI data. From the USA, the FOMC minutes will be closely watched by the market.
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