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Quiet Monday for markets

13th February 2018 Market Update

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🇬🇧 GBP – No data from the UK yesterday which was reflected in the pound’s lack of movement.

Today inflation is the focus with all indicators suggesting the figure will remain at 3%, anything aside from this could affect any imminent interest rate hikes. Elsewhere chancellor Phillip Hammond will start a fortnight tour of EU capitals, so expect lots of Brexit news in that time period.

🇪🇺 EUR – No releases from Europe yesterday or today. The euro will likely trade at the mercy of the pound and dollar.

🇺🇸 USD – No news yesterday resulted in flat trading.

Today only FOMC member Mester is to speak; he is normally hawkish on interest rates and will be taking audience questions, which could be useful for forward guidance.

 

Key Announcements

🇬🇧 GBP
09:30: CPI expected to be 2.9%, previously 3%

 

Summary: It comes as no surprise that markets were very flat yesterday after no top tier data was released. The focus now of course is the UK’s key inflation reading – CPI.

 

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Darren Kilner

Darren Kilner

Darren is Head of Dealing at FairFX. Darren lives and breaths FX, his Mastermind topics are G8 currencies and economic forecasts.

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