12 Mar 2015

Mark Carney’s Speech Awaited

Data just out has shown that trade deficit in the UK narrowed for January as low crude oil prices kept the nation’s import bill in check. With no other notable macro triggers in the UK today, focus among Sterling investors is likely to shift on the BoE Governor’s speech scheduled later today, particularly after a key policymaker, Martin Weale, stated yesterday that the central bank might have to tighten its policy stance earlier-than-anticipated. In the Euro zone, traders will eye today’s industrial production report for the Euro area, for further direction. Across the Atlantic, February’s retail sales report will attract significant attention among market participants, especially considering that this print is a key measure of consumer spending in the nation, an important growth driver of the US economy.