Well that wasn’t too bad…
Remaining on track following a relatively well received budget and a broadly stable global equity market. Without going into too much detail there was additional support of £65BN in 2021/22 from the government, equivalent to 3.1% of 2020’s GDP. Increased giveawyas include an extra £6BN in business rates relief and £5BN in grants.
Only slight pain to business owners is that corporate tax will rise to 25%, with companies who profits are on or under £50,000 will remain at 19%.
Retail sales figures out this morning. Massive indicator as to how the economy is doing since all the Brexit turmoil, expect some volatility today on GBPEUR if figures are any more or less than the consensus of -1.2 percent.
Big 2 days of data and speeches ahead. Federal Reserve head (Jerome Powell) is talking this afternoon, with Non farm payroll figures out tomorrow. Again anything unexepected, GBPUSD will spike or dip accordingly.
Have a good day!
Picture taken during the morning drive to work