Daily Outlook - 22nd Mar 2017
Sterling jumped 1.1 percent to its highest level in three weeks, after data showed British inflation in February above the Bank of England's 2 percent target for the first time since the end of 2013. This was seen as boosting chances for a rate hike from the BoE. The upcoming French elections helped the euro and weighed on the dollar after centrist Emmanuel Macron's performance in a televised debate boosted a view that he would win the presidential race over the far-right's Marine Le Pen. The President of the European Council, Donald Tusk, said that the European Union's 27 leaders will meet on April 29 to agree their negotiating lines for Brexit talks after London sends in a formal notification that it wants to leave the bloc, during a press conference in Brussels, Belgium. Another quiet day in terms of economic data. Only report that could cause some volatility in the market is Housing Price Index from US. This provides an estimated value of housing market conditions. It is an important indicator as the housing market is considered as a sensitive factor to the US economy.Yesterday’s Market
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