The pound is still strong against the euro this morning following the euro’s decline at the beginning of this week. News of tougher sanctions against Russia from the EU and US, as well as the ongoing war, are weighing on the single currency.
Several European Central Bank officials will speak today, and the markets will be listening for any comments surrounding Europe’s uncertain economic situation.
From today, National Insurance rates will be lifted for workers and businesses to raise funds for the NHS and social care. The government has received criticism for this amid increasing financial pressures on workers and companies.
Minutes from the FOMC’s latest meeting will be released later today, providing further clarity on the Federal Reserve’s thinking around the path forward for interest rates.
As we reach the end of the financial year, there is little high-level data this week, but make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
