It’s a relatively quiet day for economic data, but that hasn’t stopped the pound from gaining ground. Market sentiment remains upbeat ahead of key growth reports tomorrow.
German Inflation Data Meets Expectations
This morning’s sole release was German inflation data, which came in as forecast at 2.1%.
The figures provided no surprises and had little impact on broader market movements, keeping the focus on upcoming events.
Attention Shifts to UK and EU Growth Reports
Tomorrow morning brings the release of UK GDP figures at 7am, followed later in the day by growth data from the EU.
Both will be key indicators of economic momentum and could influence near-term currency movements, particularly for sterling and the euro.
US Retail Sales and Industrial Output in Focus
Across the Atlantic, US retail sales and industrial production figures are due tomorrow.
These releases will be closely watched for clues on the strength of US economic activity, especially as markets weigh the impact of recent trade developments.
Pound Pushes Higher on Positive Sentiment
In the past 24 hours, the pound has strengthened against both the euro and the US dollar.
This uptick is largely driven by renewed optimism surrounding US-China trade negotiations, which have buoyed risk appetite and boosted GBP.
UK-EU Summit Lifts Sterling
Sterling has also benefited from reports that the UK is seeking to deepen ties with the EU, with a summit scheduled for 19th May.
Investors see this as a sign of improving cooperation and longer-term economic stability, supporting demand for the pound.
Plan Ahead with Qu Money
As key growth data and international developments continue to shape currency markets, it’s important to stay informed and responsive.
For expert support in navigating today’s market – or to explore strategies that protect your business from volatility – speak to a Qu Money specialist today.