The pound is still stronger against the euro this morning following the Prime Minister’s resignation at the end of last week. Several Conservative MPs are now putting their names forward for the leadership race. So far, there are 11 contenders and more could be announced.
Significant data releases are in the calendar this week, including UK GDP figures and US inflation data on Wednesday. US inflation is expected to show an increase in June to 8.8%, whilst core inflation is predicted to fall slightly.
German inflation data will also be released this week, which is predicted to fall slightly. The markets will be keeping a close eye on all of these data releases as the week unfolds.
Bank of England governor, Andrew Bailey, will also be watching the data calendar closely ahead of his speech tomorrow.
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