Yesterday the pound continued to gain strength against the euro but fell slightly against the dollar. This morning sterling is still strong against the euro and has leaped ahead of the dollar in the wake of US GDP predictions.
Today CBI distributive trades figures will be announced giving markets an insight into the health of the UK’s retail sector.
Eurozone economy is predicted to shrink as Germany will release its latest GDP growth rate YoY data today. The previous GDP figures came in at 3.6, while the latest prediction is a much smaller 1.4%
The dollar gained strength against both sterling and the euro yesterday. Today things take a turn in the opposite direction following US GDP predictions hinting that America’s economy will continue to shrink.
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