Momentous week ahead for UK politics

 

Hi everyone,


So we have arrived at one of the most eagerly anticipated weeks in British politics. You will see and hear reports everywhere over the next couple of weeks on this particular vote and beyond. We will try and keep our reports jargon free and rate specific.

The first test for Sterling potentially comes later today, in an unofficial statement by Theresa May to the commons. Which could include further concessions from the EU and then reinforcing the point that the Irish backstop is temporary. The Pound is currently trading up 0.25%+ across the board.

Multiple media reports this morning suggested that the EU is readying to delay Brexit until July, which has rallied the £. UniCredit Bank today suggested anything other than a 'no-deal' Brexit will rally the Pound with 1.17 levels being reached if May's deal passes. 

The government is expected to suffer a sizeable defeat tomorrow, but we believe the £ value has already been priced into current levels. A no-deal is looking very unlikely at this stage, because the majority of MP's have demonstrated their determination to prevent it. 

There could really be some huge swings this week, once we hear the outcome of the vote tomorrow. So think about either hedging your bets and buy bit by bit and/or set rate alerts with us, to ensure you are protected from sharp falls.

Key economic data/speeches break everyday for the UK after the vote that will either help or hinder the Pounds position, once we know more on where we stand with Brexit. It could be the case of either being kicked whilst we are down or see some serious gains on top of a rally.


 

 

 

Upcoming Data
 

 

Tuesday, 15th January, 2019

 

00:00 US - Trade balance
10:00 EU - Euro-Zone GDP & NOV trade balance
13:30 US - PPI
15:00 EU - ECB Draghi's annual report
19:00 UK - Brexit vote
 

Wednesday, 16th January, 2019


07:00 EU - German CPI
09:15 UK - Governor Carney testifies on financial stability
09:30 UK - CPI, RPI, PPI & house price index
12:00 US - Mortgage applications
13:30 US - Retail sales
15:00 US - Housing market
 

Thursday, 17th January, 2019


00:00 UK - House price balance
09:30 UK - BoE credit conditions
10:00 EU - Euro-Zone CPI & construction output
13:30 US - Jobless claims & housing starts


Friday, 18th January, 2019


09:30 UK - Retail sales
14:15 UK - Industrial production

 
 
 

Dan Waterman
Office Manager

 
 
 
 
 

 

 

 

 

 

 

Major Currencies

 

 

 

 

 

GBP - EUR = 1.1200

GBP - USD = 1.2850

GBP - AED = 4.7200

GBP - AUD = 1.7850

GBP - CAD = 1.7050

EUR - GBP = 0.8928

EUR - USD = 1.1500

 

 

 

 
 

 

 

 

European Currencies 

 

 

 

 

 

GBP - CHF = 1.2600

GBP - CZK = 28.5300

GBP - DKK = 8.3600

GBP - HUF = 360.00

GBP - NOK = 10.9700

GBP - PLN = 4.8100 

GBP - SEK = 11.4800

 

 

 

 
 

 

 

 

Rest of the World

 

 

 

 

 

GBP - CNY = 8.6880

GBP - JPY = 138.80

GBP - MXN = 24.6200

GBP - NZD = 1.8830

GBP - SGD = 1.7400

GBP - THB = 41.0200

GBP - ZAR = 17.8700

 

 

 

 
 

 

The prices shown are "Interbank" exchange rates accurate at time of writing. Your rate will be determined by the amount of currency you are buying.

 

 

 

 
 
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