Sterling enters the day stronger against the euro and US dollar compared to yesterday. The pound has also made gains of well over half a percent against both rivals, respectively, compared to this time last week.
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The long uncertain period for sterling has continued into another month, with small but choppy changes against the euro, but all within a narrow band. Could there be a change in the weather coming? Against the US dollar…
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Wall Street stocks struggled for traction yesterday as investors remained cautious ahead of an expected interest rate rise from the Federal Reserve later today.
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Yesterday the consumer price inflation rate for the Euro zone increased slightly to 7.0% in April, from 6.9% in March (a 13-month low). Tomorrow, the European Central Bank's policymakers will reveal the latest interest rate decision.
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Following yesterday’s Nationwide housing index data which revealed a 2.7% annual fall, there were tentative signs of a recovery as prices rose 0.5% in April.
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Major shares across the globe were mostly in the red yesterday as economists digested a flurry of economic data from the US, and as the Federal Reserve (Fed) kicked off its two-day policy meeting.
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As UK markets were closed due to the Early May Bank Holiday yesterday, all eyes turned to the US for the latest ISM manufacturing PMI data.
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Euro watchers will soon be mulling over the euro area's latest flash inflation data. The rate is forecast to remain unchanged from last month's 6.9%.
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