Home > Resource Hub > Daily Market News > UK, Europe and US All Busy

UK, Europe and US All Busy

UK, Europe and US All Busy

Today should be quite the bumpy ride as we wait for a slew of market data from around the world. The UK and US are taking centre stage at various times of the day but don’t worry, the Greek issue is still lurking and very much at the forefront of all that is happening.

The day is starting with news out of the UK. We have the Bank of England minutes from the last Monetary Policy Committee meeting. This is the one where we are told that rates are being kept on hold at a record low levels but the devil is in the detail. Are the members still voting 9-0 in favour of this, or have the two more hawkish members decided to vote against this and try to push for a rate hike? We shall know soon enough. We also have claimant count rate, average earnings data and unemployment rate data released, all of which should show the state of the UK economy.

As the rumours of a Grexit continue to gather pace we have the ECB’s non-monetary policy meeting taking place today. Greece will be top of the agenda yet again as we appear to have stumbled upon another stalemate in discussions. According to the European Commission President, Jean-Claude Juncker, they are waiting for the Greeks to get back to them as there have been no talks since Sunday. According to Greek sources they are still there, waiting to be approached. It all takes me back to fall-outs I had with friends at Primary School.

After we close today, the focus moves to the US where the Federal Reserve make their rate statement which includes the quarterly updated economic projections. No rate hike is expected just yet but we should see a clearer picture of the Fed’s assessment of the US economy. We could well see a downgrading of growth, hiring and inflation expectations. There could also be comments on the US Dollar strength and expect the statement to be thoroughly scrutinized for any further change in rhetoric.

Share this case study
Set yourself up in minutes, make payments the same day: it’s free, easy and without obligation.