After a quiet day on the UK data front yesterday, we’ve just seen the latest public sector net borrowing data released this morning. According to the Office for National Statistics (ONS), the UK public sector posted a £20.71bn deficit in March this year.
Sterling has not yet made any knee-jerk reactions to the data however, many will be keeping a close eye on the pound’s performance against its peers over the course of today.
Across the pond, the Swiss franc made positive moves against the dollar yesterday, entering the last week of April at its strongest levels in over two years.
Movements on Wall Street remained largely unchanged over the course of yesterday, with all three major US stock indexes beginning Monday’s trading session virtually flat. This comes as investors show more hesitancy to make any sudden moves ahead of the slew of tech and economic data scheduled to hit markets at the tail end of this week.
The spotlight will be on the US this Thursday, as the Bureau of Economic Analysis will release America’s latest Advance GDP data (quarter on quarter).
There are 3 kinds of GDP reports markets look out for: advance (having the most impact), preliminary, and final (having the least).
Signs that the UK’s cost of living crisis continues to impact UK consumers and businesses manifested in yesterday’s announcement of Prezzo outlet closures across the UK. The Italian restaurant chain has announced plans to close 46 outlets in the UK. Approximately 810 jobs will be put at risk if the chain goes ahead.
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