UK Macro Daily(Beta Mode)
BoE Holds Steady on Oil Shock
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| FTSE 100 | 10,667.60 | +0.73% |
| FTSE 250 | 23,205.90 | +1.87% |
| GBP/USD | 1.35 | -0.25% |
| GBP/EUR | 1.15 | -0.00% |
| GBP/JPY | 214.45 | -0.41% |
| Brent Crude | 90.38 | -9.07% |
| Gold | 4,857.60 | +1.51% |
| UK Nat Gas | 2.67 | +1.02% |
| Bitcoin | 74,321.98 | -1.85% |
| UK 2Y Gilt | - | - |
| UK 10Y Gilt | 4.70% | +6.05% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude Oil Price | Type: macro_line | Brent USD/bbl: 123.3 (2026-04-13) | Range: 59.93–138.2 | Trend(6pt): 64.02,117.3,90.99,82.69,119.1,123.3
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Tuesday (2026-04-21) | |||
| Headline Unemployment Rate | 5.20 | 5.20 | 22:00 |
| Average Earnings incl. Bonus (3Mo/Yr) | 3.90 | 3.60 | 22:00 |
| Employment Change | 84,000 | - | 22:00 |
| Wednesday (2026-04-22) | |||
| Inflation Rate Year-over-Year | 3 | 3.30 | 22:00 |
| Core Inflation Rate Year-over-Year | 3.20 | 3.20 | 22:00 |
| Inflation Rate Month-over-Month | 0.40 | - | 22:00 |
| Thursday (2026-04-23) | |||
| S&P Global Manufacturing PMI Flash | 51 | 49.50 | 00:30 |
- FTSE indices rose on risk appetite despite Brent's plunge from Iran tensions.
- Sterling dipped versus USD and JPY; Gilt yields climbed amid volatility.
- BoE eyes AI risks, inflation stickiness, with no rush for rate cuts.
Yesterday's Recap
UK markets displayed resilience yesterday, with the FTSE 100 closing at 10,667.60, up 0.73% on banking and industrial strength offsetting energy losses. The FTSE 250 advanced 1.87% to 23,205.90, fueled by consumer goods amid global risk-on mood. Sterling softened modestly, GBP/USD at 1.35 down 0.25%, GBP/JPY at 214.45 down 0.41%, while GBP/EUR stayed flat at 1.15.
Brent crude tumbled 9.07% to 90.38 on Iran conflict disrupting supply. Gold climbed 1.51% to 4,857.60 as a haven asset, UK natural gas rose 1.02% to 2.67 on steady demand. The UK 10-year Gilt yield increased to 4.70%, up 6.05% reflecting bond volatility.
No key UK data emerged, with verified priors: BoE Bank Rate at 3.73%, CPI YoY at 3.40%, unemployment at 5.20%.
The Day Ahead
Focus shifts to tonight's high-impact headline unemployment rate at 22:00 ET (consensus 5.2% vs. prior 5.2%), plus medium-impact average earnings incl. bonus (consensus 3.6% vs.
prior 3.9%) and employment change (prior 84,000). Tomorrow's inflation releases at 22:00 ET include YoY rate (consensus 3.3% vs. prior 3%), core YoY (consensus 3.2% vs.
prior 3.2%), and MoM (prior 0.4%). Thursday brings flash S&P Global Manufacturing PMI (consensus 49.5 vs. prior 51.0) and Services PMI (consensus 49.9 vs.
prior 50.5) at 00:30 ET, CBI Business Optimism (prior -19) and Industrial Trends Orders (consensus -30 vs. prior -27) at 02:00 ET, and GFK Consumer Confidence (consensus -25 vs. prior -21) at 15:01 ET.
Friday's retail sales MoM (consensus 0.2% vs. prior -0.4%) and YoY (prior 2.5%) at 22:00 ET may gauge spending trends. These could shape BoE views amid global risks.
Other Economic Notes
UK themes center on inflation persistence, with verified CPI at 3.40% YoY highlighting services pressures that may postpone easing. Unemployment at 5.20% indicates labor resilience, fueling wages and hindering disinflation. Gilt yield volatility raises borrowing costs, potentially curbing growth for consumers and businesses.
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