The UK Spring Budget will be delivered today 8 March

Ordinarily this is not a prime mover for markets being of more domestic interest to those of us living in the UK but today's event is more keenly awaited/hyped.

Why? Well despite all the upbeat "we're on the right path" type rhetoric to please the party faithful and hoodwink the less intelligent/aware public we may well get a small clue as to Hammond's financial planning post-Brexit.

There is little doubt in my mind he will remain cautious and postpone any real news of note until the next Budget in the winter but the algos will be primed to go nonetheless as he begins his speech around 12.30 GMT

Expect Hammond to use phrases like "new chapter" in a statement that the Treasury said would give an "upbeat assessment" of the UK's economic prospects and offer a "positive backdrop ahead of the start of new chapter for the country outside of the EU".

Hammond, as always, has a fine line to walk right now and distanced himself from talk of wider giveaways, stressing the need for the UK to reduce borrowing in the long term and to ensure the country is prepared for future global economic uncertainty and any short-term turbulence arising from its withdrawal from the EU.

Plenty of speculation about how he will spend the monies saved by leaving the EU but also his reticence to spend, spend, spend preferring instead to have plenty of "gas in the tank" as I reported on Sunday.

The Treasury have now said their boss will say:

In building the foundations of a stronger, fairer, better Britain, outside the EU - the government understands the concerns of those who worry about their children's ability to access the opportunities they themselves enjoyed,"

He knows that many are still feeling the pinch, almost 10 years on from the financial crash and that the government will do everything it can to help ordinary working families to get on"

This Budget will have to be political as much financial and I'm not expecting any great fireworks, but as ever we'll expect the unexpected and hope those robots can generate some volatility.

Watch it all live here

GBPUSD currently 1.2148 just off session lows of 1.2139 with EURGBP 0.8692 still underpinned but running into the offers at 0.8700

Full GBPUSD and EURGBP order boards here and here

Hammond- Upbeat message maybe but cards close to his chest still