Market insights

It's Black Friday

Today sees Black Friday in the US. Historically named following the financial crash of 1869, it was later adopted by retailers as the point their figures went from being in the red to being in the black and they started making profit.

Whatever the meaning, it's generally seen as the start of the pre Christmas retail frenzy.

However when it comes to currency rates, there's rarely much effect.

The Pound is on track for a good end to the week against majors such as the Euro, the Dollar, the Canadian Dollar and the Australian Dollar.

After a period of tracking sideways the Pound has gained a slight edge.

GBP/EUR could move later in the morning with Eurozone preliminary inflation data.

Expect annualised growth of 2.3%. Anything either side could cause volatility.

Scheduled news ends today just after lunch as the US recovers from its Thanksgiving hangover.

Last out of the traps is Canadian GDP information with monthly growth of 0.3% expected.

Business news digs deeper into the chaos around Black Friday with, what seems to be great deals, not always leading to positive outcomes. An example being TV's that are advertised as being similar to top spec models at ridiculously cheap prices, with certain features removed to reduce the cost.

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Economic calendar

EUR: 10:00 Inflation Report

CAN: 13:30 GDP Report

As ever we look forward to keeping you in the loop and look out for our next update.

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