Spreadex Market Update

UK inflation rate fell to a four-year low



UK inflation rate fell to a four-year low of 1.7% today, directly influenced by the 0.8p a litre fall in petrol prices between January and February earlier this year. Prior to the figure being released, GBP/USD hit lows of 1.6483 before recouping some of its losses after the inflation figure was released, currently trading just off its highs at 1.6515.

European stocks continued to drive higher this afternoon with German data looking to be the main catalysts for the rally. German Ifo Business Climate was reported at 110.7, slightly lower than analyst expectations of 110.9. 

Kingfisher currently leads the FTSE 100 risers, up 5.24% after the home improvements company revealed profits rose 4.1% and they are to return around £200m to shareholders this year. 

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