Since yesterday, sterling has strengthened against the majority of G10 currencies, including the euro and US dollar, but on a weekly footing sterling enters the day with mixed results — still weaker against the euro and Canadian dollar. This comes after investors digest this morning’s key economic release, UK inflation. Continue reading for the results.
Markets will also see the latest eurozone inflation data at 10am, followed by a flurry of key economic releases from the US.
The US dollar index (DXY) steadied just below 102 on Wednesday as markets reassessed the Federal Reserve’s outlook for monetary policy.
Tomorrow, Japan will take the spotlight with the latest balance of trade data and on Friday, the UK will churn out a few economic releases. Ones to watch include retail sales and Gfk consumer confidence.
In the stock markets yesterday, London’s benchmark FTSE 100 ended above the 7,900 mark pointing to gains for the eight session in a row.
But it was a different story for US stocks. A plethora of US economic data saw the Dow lose over 100 points on Tuesday – the Nasdaq 100 and S&P 500 traded close to the flatline.
The Swiss franc also had a tough day, falling from its two-year high against the US dollar touched on April 13th. This comes after growing expectations that the Swiss National Bank will bring its tightening path to a close.
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