Sterling weakened against its peers on Wednesday, weighed down by cooling inflation and renewed confidence that the Bank of England would cut interest rates next month.
There was still enough trepidation within markets to prevent any serious losses. US markets found their attention split between key earnings reports by Nvidia and Walmart and this afternoon’s non-farm payrolls data, the first in almost two months.
Chip giant Nvidia had a chance to calm or inflame market jitters around AI spending yesterday evening. As the rest of the tech sector experienced a sell-off, Nvidia report bumper chip sales that boosted revenue figures $3 billion beyond Wall Street forecasts. Bubble? What bubble?
House prices in London fell to a two-year low in September, according to the Office for National Statistics (ONS). Average prices in the capital fell at an annualised rate of 1.8% amid a steep fall in posh areas such as the City and Kensington. The average price still sits at almost £550,000, roughly double the national average.
In a twist that will have surprised few, the UK and the European Union are at loggerheads again over a budget issue. British government ministers have suggested they would be willing to spare £75 million towards the rearmament fund – just one per cent of the EU’s €6.7 billion demand.
The German government has approved plans to launch the nation’s first space programme. Amid communications and logistics threats from Russia, Germany will spend €35 billion on military space infrastructure by 2030, the defence ministry said.
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