MNI: GERMAN GFK FEB CONSUMER CLIMATE -22.4

MNI: More Data Needed Before Hike - BOJ Minutes

MNI BRIEF: Aussie Q4 Trimmed CPI At 0.5% Q/Q

MNI INTERVIEW2: New NBH Chief Must Clarify Reaction Function

MNI BRIEF: U.S. Senate Confirms Bessent as Treasury Secretary

MNI NBH WATCH: Base Rate To Hold At 6.5% Despite Price Uptick

MNI: SPAIN Q4 FLASH GDP +0.8% Q/Q, +3.5% Y/Y

MNI: SWEDEN FLASH Q4 GDP +1.1% Y/Y

MNI: AUSTRALIA MONTHLY DEC CPI 0.2% MM, 2.5% YY

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: UK Budget in Focus, EUR Buoyed on Firm German Regional CPIs

FOREX
  • The UK Budget takes focus ahead, at which the UK Chancellor Reeves outlines the first Labour budget in over 15 years - and is expected to show a series of tax rises and a change in fiscal rules. While GBP vols have ticked higher headed into the release, the vol premium is comfortably below that seen across 3 of the past 4 UK fiscal events - supporting the theory that while infrastructure spending is to rise in the coming parliament, there will be little to deter the Bank of England's current easing trajectory toward neutral.
  • GBP/USD trades back above the 1.3000 level, but gains at these levels are considered corrective as part of the bear leg off the September high. On the upside, initial firm resistance to watch is 1.3065, the 50-day EMA. A clear breach of this average is required to signal any reversal.
  • EUR trades well, gaining against most others as regional German CPI prints point to upside risks for the national reading - with the three largest states all seeing monthly inflation top 0.2% - Baden-Wuettemberg was a particularly high reading at 0.7% M/M. The national print follows later today at 1300GMT.
  • US data today includes the advance reading for Q3 GDP, with ADP employment change and pending home sales also on the docket. The Fed remain inside the pre-decision media blackout, leaving speaker focus on ECB's Schnabel, Villeroy and Nagel, with BoC's Macklem and Rogers to make a second appearance of the week.
BulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.