27th November 2017 Market Update
Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report.
?? GBP – This week is relatively quiet again on the data front, with nothing of note being released today. Andy Haldane is due to speak today, however this could have little consequence on the market. The bank stress tests and Mark Carney’s speech that follows is the last bit of key data for the UK before the month’s end. To kick off December, manufacturing PMI is being released on Friday and forecasts are for the figure to be slightly stronger than last month’s reading.
?? EUR – At the end of last week, the euro appeared to regain it’s footing as Germany’s coalition talks appear to have some life in them yet. On Wednesday the Eurozone begin releasing their inflation figures, with Germany, Spain and France’s being released. On Thursday the final flash inflation figure for Europe is announced. Forecasts are optimistic that this could come in above last month’s reading. On Friday Europe’s manufacturing PMI is also released.
?? USD – Like the UK and Europe, Monday is very quiet for the US. Consumer confidence is being released on Tuesday, prior to the preliminary GDP figures for the US on Wednesday. On Friday ISM manufacturing figures are released from the US to wrap up the week, however these are expected to contract in comparison to last month’s.
No key announcements today.
Summary: Other than the German coalition talks, it was a very quiet end to last week as no data of note was released on Friday, and today follows suit. The main highlights this week include the UK’s bank stress tests on Tuesday and European CPI figures on Wednesday and Thursday. If German coalition talks were to collapse and another election called, the euro could weaken due to the uncertainty.
Find out more about our Money Transfer service for personal & business international payments. We’re committed to giving all clients the best rate possible, along with flexible and personalised service. Save time and money by reducing risk through a simple and efficient service.