This morning, the Pound is trading higher against the Euro, driven by political uncertainty in France. Marine Le Pen, leader of the National Rally, has threatened to topple the French government unless proposed pension cuts are withdrawn. These developments have put pressure on the Euro, offering Sterling a boost in early trading.
UK House Prices Hit Two-Year High
Adding to the positive sentiment for the Pound, UK house prices rose at their fastest annual rate in two years this November, climbing 3.7% year on year. This growth highlights resilience in the UK property market despite broader economic challenges.
Today’s Key Data Releases
Today’s economic calendar includes:
- EU PMI Manufacturing figures, due this morning.
- US construction spending and PMI data, expected later this afternoon.
These reports could provide further direction for market trends as traders assess the strength of the manufacturing and construction sectors across major economies.
Looking Ahead: Politics and US Labour Data in Focus
For the rest of the week, there are no significant data releases expected from the Eurozone or the UK. However, markets will be closely monitoring political developments in France, which remain the primary driver for the Euro.
Additionally, Friday’s US labour market statistics are set to take the spotlight, with potential implications for Federal Reserve policy and the US Dollar.
Expert Guidance for Navigating Volatile Markets
As political and economic events unfold, it’s essential to stay informed and prepared. At Qumoney, we provide expert analysis and tailored advice to help you manage currency exposure and capitalise on market opportunities.
For personalised insights into how these trends could impact your business or financial strategy, contact our team today.