Brexit deal close
|Sterling rose nearly 1.5% against the Euro last week, hitting a three-month high and producing a fantastic opportunity to buy the single currency, which many of you have acted on.
Theresa May started the surge of Sterling by producing an effective speech to her peers last Wednesday and stuck to her guns on everything Brexit, giving confidence to the market. Then, Bloomberg broke the news that 2 anonymous EU officials had confirmed the EU will offer the UK an unprecedented deal and soon.
Optimism again surrounds this currency pair and further news is excepted this week on the Irish border solution, which if positive, will increase the Pounds position. At the weekend EU commissioner Jean-Claude Juncker told newspapers 'A no-deal would be bad for both sides' & that ' a potential deal can be done in October'.
It's a 'bitty' week data-wise, with small but significant figures being released. GDP from the UK on Wednesday could raise the £ and production from the Euro-Zone could weaken the €. The US Dollar remains strong across the board and so current levels should be considered.
|Tuesday, 9th October, 2018|
07:00 EU - German trade balance
09:30 UK - FPC statement
10:00 EU - PPI
17:00 US - FED chairman conference
12:00 US - Mortgage applications