020 7898 0500The major release of the day from the UK was the UK public sector net borrowing figures which showed a surplus for March. The figure came in at 0.262 billion compared with a 0.523 billion deficit one year earlier. Ultimately, we learned that Britain’s budget deficit dropped to its lowest level since before the financial crisis.
Meanwhile, the CBI industrial trends orders balance came in at 4 in April, against an expectations of an increase to 6. It is still the lowest level for October. Still, the pound strengthened against the dollar and it also made some gains against the euro, although these were only slight.
There are no economic data releases for the UK today and so any market movements will likely be driven from events elsewhere. However, it will be interesting to see whether TSB can resolve the IT issues that have affected some 1.9 million customers.
