UK CBI industrial order expectations came out worse than expected yesterday at -8 compared to 2 that was forecast which negatively impacted the Pound yesterday. However, this morning UK retail sales exceeded forecasts at 5.4% instead of 1.5% that was anticipated which has limited losses for the time being.
The Euro is stronger against the Pound but slightly weaker against the Dollar. Eurozone consumer confidence data surprised the market at -8. ECB President Lagarde mentioned that the central bank have not looked at how to wind down its PEPP programme just yet.
US unemployment claims beat forecasts with a release of 547K instead of the expected 607K figure. The Dollar’s safe-haven status has been in demand as President Biden has said that he intends to raise taxes on capital gains for people who are higher earners to pay for his infrastructure plan, which has created some concern in the market.