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German Consumer Confidence Dips Ahead of Key Central Bank Meetings

German consumer confidence fell to its lowest levels since back in April this year at a total level of -24.1. Income expectations among German consumers have slumped after continuing geopolitical worries and inflation levels starting to creep up. The momentum has been carried over the last few months, seeing a growing concern from German consumers indicating a less disposable spending at hand. Markets did not react on this data this morning, and with ECB (European Central Bank) meeting on Thursday, with expectations to hold interest rate levels at bay. The remaining Tuesday session is lacking high to medium impacting events, and focus will shift for Wednesday. Seeing both BoC (Bank of Canada) and the Federal Reserve holding their interest rate meetings. Markets can be expected to be anticipated through Tuesday ahead of tomorrows bigger event. Right now, both central banks are expected to lower their rates by 25 basis points, that markets would have already price in. What could lead to volatility is in the comments afterwards on their forward guidance for upcoming meetings.

GBP/EUR 1.1410 GBP/USD 1.3309 GBP/AED 4.8902
GBP/AUD 2.0301 GBP/CHF 1.0564 GBP/CAD 1.8634
GBP/NZD 2.3059 EUR/USD 1.1648 GBP/ZAR 22.9809

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