14th May 2018-Wage Growth and Inflation back in the Spot Light

 

     

Wage Growth and Inflation back in the Spot Light

Retail sales in the UK fell the most since 2009 recession in March and April according to figures released already this morning by ‘Springboard’. Although most of the shortfall is widely put down to the bad weather and ‘Beast from the East’, the data shows a longer term downward trend and were in line with figures released by Visa previously. Spending was down by 2% on an annual basis.

Without vast amounts of fundamental data releases today, the markets will be looking ahead to tomorrow’s inflation and earnings reports from the UK to search for signs that the previously weak data was just a blip and that there isn’t as much slack in the economy as feared. However, forecasts are now predicting wage growth slowing to 2.6% down from last month’s 2.8% - which in turn was expected at 3% - representing a sharp downward  correction in the outlook of analysis.

Italy have agreed to formulate a Government according to reports over the weekend. The 5star party and the League party have agreed to form a partnership breaking the stalemate from the election in March. Both parties are considered anti-establishment and anti-EU but their views are not completely aligned.

     
 
       
 

GBP/EUR 

– 1.1334

 
 

GBP/USD

– 1.3569

 
 

GBP/CHF 

– 1.3558

 
 

GBP/JPY 

– 148.62

 
 

GBP/AUD 

–  1.7963

 
 

GBP/NZD 

– 1.9523

 
 

GBP/CAD

– 1.7333

 
 

GBP/ZAR 

– 16.5658

 
 

GBP/NOK 

– 10.8292

 
 

GBP/SEK 

– 11.6416

 
 

EUR/USD 

– 1.1969

 
       
  All rates are indicative of interbank rates*  
       
 
 

GBP/EUR

 
 

GBP/USD 

 
 

EUR/USD 

 
       
 
   

19:45 USD

FOMC Member Mester Speaks

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*All rates shown are indicative of interbank rates and should only be used for indication purposes only. It is important to note that foreign exchange rates fluctuate and that rates may vary depending on the amount and the base currency that is purchased or sold. Rates are correct as of 8:00am UK time.  CentralFX are not responsible for the rates shown.
 
 
 

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