Unemployment rose in February, although the stubborn growth in average earnings almost stole the headlines. In the three months to February, average earnings including bonuses fell slightly from 6.1% to 6%, while average earnings excluding bonuses were unchanged…
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UK inflation slowed to 3.2% in March, below February’s 3.4% but slightly higher than forecasts of 3.1%. That’s still the lowest headline rate since September 2021. Core inflation meanwhile also fell back to 4.1%.
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The US dollar regained its strength yesterday as better-than-expected retail sales data boosted the currency. The US dollar ended Monday’s European session 0.15% higher against the euro but remains largely unchanged against the pound.
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The dollar index rose for a fifth consecutive session on Tuesday, hovering at its highest levels in over five months as better-than-expected US retail sales data gave it a boost.
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Industrial output in the euro area rebounded by 0.8% month-over-month in February, recording a partial recovery from a revised downturn of 0.3% in January and meeting market expectations.
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Tomorrow morning, we’ll find out whether the Bank of England’s monetary policy has done enough to bring inflation closer to the Bank’s 2.0% target. The rate is currently at 3.4% but economists expect the rate to drop to…
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The pound hit a new four-week high against the euro on Friday but has slipped to its lowest point against the US dollar since mid-November. It’s all a reminder that while interest rates and domestic economic data will…
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Gradually, US markets have come to expect fewer interest rate cuts from the Fed this year. Employment data and resilient growth have made this conclusion inevitable, although the about face continues to boost the US dollar.
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