Money News Overview Monday 25th March: New Home Sales the major release today

Today's economic calendar is quiet, with no major data releases. Attention shifts to Thursday for the first significant report of the week, when the U.S. will release the Consumer Price Index (CPI) report, the first since the Federal Reserve cut rates by 50 basis points last month.

European Central Bank President Lagarde’s speech is the first major release of today, where she is expected to speak at 10am this morning. Investors will tune in to see how the ECB views the current state of economy.

Later today the US will release their New Home Sales report, this is the number of sales of newly constructed homes in the USA, forecasted to come in at 680k (from 661k).

Looking ahead this week for the UK, the main release comes on Thursday which is Gross Domestic Product (GDP). Markets are expecting a further decline in quarterly growth with a decline to -0.3 (from -0.1).

The US will release their GDP and Employment figures on Thursday, with the latter of those releases expecting the number of Unemployment Claims to come in at 215k up 5k from last week’s figures.

Last week the pound suffered its biggest decline of this year, falling 80 points against the euro and then nearly a 200 point decline against the dollar.

As of this morning the pound currently sits just above last year’s average against the euro. The same can be said for the pound dollar rate.

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