{"id":44710,"date":"2022-10-14T12:50:25","date_gmt":"2022-10-14T11:50:25","guid":{"rendered":"https:\/\/www.etfworld.com\/co.uk\/?p=44710"},"modified":"2022-10-14T14:21:26","modified_gmt":"2022-10-14T13:21:26","slug":"rationalfx-markets-are-now-pricing-in-a-full-u-turn-on-uk-corporation-tax","status":"publish","type":"post","link":"https:\/\/www.etfworld.com\/co.uk\/rationalfx-markets-are-now-pricing-in-a-full-u-turn-on-uk-corporation-tax\/","title":{"rendered":"RationalFX: Markets are now pricing in a full U-turn on UK corporation tax"},"content":{"rendered":"

RationalFX: Sterling found some much needed relief against a basket of currencies on Thursday following reports the UK government were set to reverse some aspects of its contentious mini-budget. <\/span><\/p>\r\n

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RationalFX<\/strong><\/p>\r\n

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GBP<\/strong><\/span><\/p>\r\n

Sterling found some much needed relief against a basket of currencies on Thursday following reports the UK government were set to reverse some aspects of its contentious mini-budget. According to numerous news outlets, the government were considering which parts of the tax cutting package which sent financial markets into turmoil last week can be ignored.<\/p>\r\n

Added to this, British Chancellor Kwasi Kwarteng had cut short his trip in the US to return to London to work on the government\u2019s fiscal plan fuelling rumours that a U-turn was imminent. When asked if financial markets had improved on Thursday as expectations of a government U-tun grew, Kwarteng responded \u201clet’s see\u201d. The potential shift from the government follows the recent decision to abandon the plan to abolish the highest 45% tax rate.<\/p>\r\n

With Tory MP\u2019s revolting and a surge in support for Labour in the polls both Truss and Kwarteng are under pressure to take decisive action on their mini-budget. The news sent the British currency higher racing to one-month highs against the euro and rallying by 1.8% against the US dollar to one-week highs, before a hot US inflation print reversed some of Sterling\u2019s gains.<\/p>\r\n

USD<\/strong><\/span><\/p>\r\n

Data showed US consumer prices increased more than expected in September reaffirming expectations that the Federal Reserve with deliver another 75 basis points rate increase at next month\u2019s meeting.<\/p>\r\n

According to the data, the Consumer Price Index rose to 0.4% for September after a gain of 0.1% in August whilst the yearly figure fell less than expected to 8.2% against expectations of 8.1%. With inflation continuing to run well above the Federal Reserve\u2019s 2% target fed funds futures have now priced a 100 basis points worth of hikes at 13.4%.<\/p>\r\n

Key announcements<\/span><\/strong><\/p>\r\n

12:30 – USD – Retail Sales (MoM) (Sep) expected 0.2%<\/p>\r\n

14:00 – USD – Michigan Consumer Sentiment expected 59<\/p>\r\n

Source : ETFWorld.co.uk<\/p>\r\n","protected":false},"excerpt":{"rendered":"

RationalFX: Sterling found some much needed relief against a basket of currencies on Thursday following reports the UK government were set to reverse some aspects of its contentious mini-budget.<\/p>\n","protected":false},"author":4,"featured_media":20826,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"telegram_tosend":false,"telegram_tosend_message":"","telegram_tosend_target":0,"footnotes":"","_wpscp_schedule_draft_date":"","_wpscp_schedule_republish_date":"","_wpscppro_advance_schedule":false,"_wpscppro_advance_schedule_date":"","_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[320],"tags":[321],"class_list":["post-44710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-analysis","tag-rationalfx"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/44710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/comments?post=44710"}],"version-history":[{"count":1,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/44710\/revisions"}],"predecessor-version":[{"id":44713,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/posts\/44710\/revisions\/44713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media\/20826"}],"wp:attachment":[{"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/media?parent=44710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/categories?post=44710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etfworld.com\/co.uk\/wp-json\/wp\/v2\/tags?post=44710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}