Overall it’s been a positive week for the euro, with EUR/USD holding onto its highest point since early July.
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Sterling swung by between 1 and 2% against the euro and US dollar in the run-up and immediate aftermath of the Autumn Statement, but ultimately ended by stabilising at roughly where it started the day.
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The chancellor’s long awaited Autumn Statement brought two months of severe market turmoil to a close yesterday. It ends with GBP/USD at a four-month high and GBP/EUR back close to the five year average. However the recession has apparently…
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Despite falls in the stock markets, a US Commerce Department report showed that retail sales surged 1.3% in October, the strongest increase in eight months.
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In November, the euro traded at the highest rate we’ve seen since July against the US dollar. Hopefully this continues for the remainder of the month.
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Jeremy Hunt’s Autumn Statement is due at 11:30pm today. He is expected to focus on cost of living and made advance warnings that it’ll be “eye-wateringly” difficult.
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Inflation was revealed to be 11.1% yesterday morning. However, Bank of England governor Andrew Bailey told MPs he expects to see interest rates fall dramatically in the new year.
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Today's retail sales report will give markets an insight into sales of retail goods and services for October.
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