Broken the back of the week!
Vital 6 weeks on the run up to Christmas. UK wages came in stronger than expected in the UK’s latest set of statistics however the more prevalent figure is that of unemployment which is slowly starting to rise, with an additional 25,000 people out of work last quarter. Worrying really as it’ll take a few more months for the data to truly reflect where the jobs market currently stands, which brings us onto Mr Hunt – big budget day for him on Thursday. It’ll no doubt be a raft of tax and council tax rises to fill the deficit we’ve been left with. Whilst personally it’ll hit our pockets, expect GBP to strengthen off the back of the news.
We also need to address the hotter than expected inflation data last night which came in at 11.1% vs 10.7% expected. GBP had a bit of a wobble which suggests that the Bank of England may not be able to afford another interest rate rise in December…watch this space.
I’ve always maintained this, as soon as there is some unrest internationally – USD strengthens. Watch this space as the news unfolds regarding the Polish missile strike…
Nothing to report really, fairly quiet and treading water…
Keep an eye out for a fresh update on Friday following the budget.
Have a good day!