As Portugal prepares to co-host the 2030 FIFA World Cup alongside Spain and Morocco, the Algarve is poised to emerge as a key player in the tournament’s success.
Inflation in The UK has risen for a second consecutive month in November, moving further away from The Bank of England's two percent target as last month saw a fairly significant rise compared to October.
Average earnings in for the UK saw a growth of acceleration for the first time in more than a year reaching 5.2%. In the last month average earnings came in at 4.9%, now boosting confidence not only for a wage acceleration but also dampens markets speculation ahead of Thursdays interest rate decision from Bank of England.
Sterling ended the week on a pretty negative note following weak UK GDP data with GBPEUR falling to 1.20, and GBPUSD falling to 1.26. The biggest concern with the data was that the services sector in the UK showed no growth in October, the same as September, which has led many to blame the most recent budget on negative sentiment in the UK economy.
Last week, French politics took the spotlight with a vote of no confidence resulting in the current Government being dissolved. Upon PM Barniner’s exit, there has been much positive movement with President Macron committing to installing a PM that will get the next budget passed with the backing of Marine Le Pen’s party.
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Yesterday we did see a bounce back for the EUR against GBP and USD, with the latter seeing movements of up to 0.7% in favour for the EUR. After a few days of political turmoil in France – it looks like the left-wing and far right parties might move closer to an agreement of how the budget could find an agreement.
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