UK natural gas prices fell to around 80 pence per therm in the second half of June. This comes after the price neared its two-month high of 125.3 pence on June 15.
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Despite fluctuating around 0.3% yesterday, the pound-to-euro rate remains relatively unchanged from start of play Monday.
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On Friday, markets saw the University of Michigan consumer sentiment for the US rise to 63.9 in June, beating forecasts of 60 and marking the highest level in four months.
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This week euro-watchers will see the latest flash reading for the eurozone’s consumer confidence. In the last data release, consumer confidence in the Euro Area was confirmed at -17.4 in May.
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The UK’s yearly and core inflation rates are expected to cool in Wednesday morning’s data releases. The previous data showed that yearly inflation fell to 8.7, its lowest rate since March last year, as gas and electricity prices…
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Sterling enters the week approximately 0.30% stronger against the euro after outpacing the single currency on Friday, as investors anticipated continued tightening in this week’s Bank of England (BoE) decision.
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Temperatures in the UK neared their 2023 highs last week, as did the pound-to-euro rate which soared to highs not seen since August 2022.
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The US dollar lost around 1% against its major rivals including the pound and euro yesterday, stretching its losses over the past week and only bettering the Japanese yen.
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