Markets Await Key Central Bank Signals

Oil prices edged down during Asian trading on Tuesday, though they managed to hold onto the majority of their gains from the previous session. This slight decline comes as markets face ongoing uncertainty regarding the status of ceasefire talks between the U.S. and Iran. 

This morning we also saw flash inflation rate readings for Euro zone higher than its previous data reading of 3%. Overall we have seen European countries announce rising inflation levels which has led to increased possibilities of a rate hike from ECB in June. Today’s data came out as its forecast of 3.2%, well above the target rate of 2%. 

Ahead of this afternoon we have a press conference from Bank of England’s Andrew Bailey. Recent talks from Bailey has seen a firm hold on his view of no changes from a monetary actions from BoE. It’s likely that Bailey will address his view of public sector pay and inflation levels. 

GBP/EUR 1.1555 GBP/USD 1.3458 GBP/AED 4.9454

GBP/AUD 1.8743 GBP/CHF 1.0572 GBP/CAD 1.8645
GBP/NZD 2.2707 EUR/USD 1.1632 GBP/ZAR 21.8164

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