Today marks another quiet day for UK and eurozone data releases, while US data dominates. In the meantime, Sterling-watchers eagerly anticipate Britain’s month-over-month GDP which will be released on Friday.
On Tuesday, Britain’s Financial Services Minister Andrew Griffith announced that Downing street’s plans to launch a digital pound are slowly underway. Griffith said that refining the design is the bigger priority, rather than a rapid launch.
The finance ministry is set to launch a public consultation on the characteristics of a digital pound in the coming weeks.
The latest balance of trade and industrial production data will take centre stage for the eurozone today. With the Euro Area being one of the world’s biggest players in global trade, market participants will be keen to find out whether the forecasts are accurate.
Despite the rocky road it has been on this week, the dollar held its ground on Wednesday, in spite of downward pressure from lower bond yields and higher stocks.
Though this week’s US consumer price data could be the one to throw the dollar off course, or steer it back on! The data will be released at lunchtime today.
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