All eyes on the Conservative party conference

Hi everyone,
 
We enter October up against the majority of currencies, due to better than expected UK manufacturing data this morning. However, expect a very volatile week ahead.

With very little data due out this week, attention turns solely to the Conservative conference. More evidence of a Tory divide will be negative for the £, but today May has been backed by two key figures in Chancellor Hammond & Brexit secretary Raab with the latter calling on the EU 'to get serious'. It's really a wait and see scenario.

Historically, the first week of October hasn't been kind to Sterling. A disastrous conference speech by Theresa May last year saw the Pound lose 3% and 2 years ago after her speech the 'flash crash', which saw £-$ rates tank to its lowest levels for 31 years. May speaks again this Wednesday, so strap yourselves in!


 
 
Upcoming Data
 
Tuesday, 2nd October, 2018

07:00 UK - Nationwide house prices
09:30 UK - Markit PMI
10:00 EU - PPI
17:00 US - FED chairman conference

 
Wednesday, 3rd October, 2018
 
09:00 EU - Euro-Zone PMI
09:30 UK - Markit PMI
10:00 EU - Euro-zone retail sales
12:00 US - Mortgage applications
13:15 US - Employment change
15:00 US - Non-manufacturing composite
 
Thursday, 4th October, 2018

08:30 EU - German Markit PMI
13:30 EU - Jobless claims
15:00 US - Factory & goods orders
 
Friday, 5th October, 2018

07:00 EU - German PPI & factory orders
09:30 UK - Labor costs 
13:30 US - Trade balance, payrolls, average earnings
13:30 US - Unemployment rate
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