The latest inflation figures showing an unexpectedly high rise, almost hitting the Bank of England’s target – making the likelihood of an upcoming rate cut seem slimmer. However, the pound is weaker this morning as concerns over UK-EU trade talks weigh.
Meanwhile, it was another disappointing day for the Eurozone, after German construction figures failed to grow as forecast, instead entering the negative. The ECB will release the minutes from their January meeting later today.
US new home permits rose to a thirteen-year high, in another sign of the strength of the American economy at the moment, and the dollar is still being buoyed by market fears over coronavirus.
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