Following last week’s potentially pivotal week, with the US dollar shedding almost 4% after a softer-than-forecast inflation print, the focus will move over to the UK where several data points and events could produce significant volatility.
The main event in the UK this week is Thursday’s new fiscal plan from the government that will be delivered by Jeremy Hunt. PM Sunak will be hoping for a much better reaction from markets than the previous mini-budget saw under Chancellor Kwarteng at the end of September.
In addition to this, UK tier 1 data including retail sales, inflation, and employment will all be released this week which could add extra fuel to the volatility fire. This could be the case, particularly around the latest inflation numbers which are forecast to see the CPI rise to 10.6% year/year.
Buckle up, it should be an interesting week.
Written by Viv Savani. 7:17am, November 14th 2022
The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.