Parliament shut as Government works on EU deal

Hi everyone,

The Pound currently sits nicely at a 6-week high and looks set to remain so for the rest of the week. Sterling has recovered 5% against the Euro & 3% against the Dollar in the last month and is the best performing major currency.

But, some analysts are predicting current rates to be the ceiling for now and is vulnerable to a pullback towards the end of the month. The strong rally has been helped by surprisingly strong economic data of late, however the positives may be starting to dry out. 

Even though the road to a no-deal Brexit has narrowed significantly, the uncertain Brexit strategy from Boris Johnson and likelihood of a 2019 general election, will keep the Pound grounded and future uncertain. 

Tomorrow the ECB conference will be of interest and is likely to move £-€ and those requiring £-$ should watch out for key US figures at 12:30pm.




Upcoming Data

Thursday, 12th September, 2019

06:00 EU - German CPI
09:00 EU - Euro-Zone industrial production
11:45 EU - ECB rate decision
12:30 US - Average earnings, CPI, jobless claims
12:30 EU - President Draghi conference 
18:00 US - Monthly budget statement

Friday, 13th September, 2019

09:00 EU - Euro-Zone trade balance
12:30 US - IMP/EXP price index & retail sales
14:00 US - Business inventories


Dan Waterman
Office Manager

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