Sterling faces key data test this week

Hi everyone,

Data analysts are predicting the pound to struggle this week, as we expect to see more sluggish figures from the UK. Currently, there is a 70% chance of a rate cut next week, which will weaken the Pound if it comes to fruition. By how much is not clear yet, but it should be nothing like the swings seen during the big Brexit events of the last couple of years. Still, it may not be the right decision to gamble on the data if you have Sterling to sell imminently. 

There is plenty to watch out for this week data-wise, as all the majors release important figures for their economies. 'PMI Friday' the main event for market volatility, so maybe look 

Prime Minister Boris Johnson is set to give a speech days after Brexit to formally outline the UK's negotiating objectives with the EU, US and the rest of the world. This news comes after the European Commission confirmed it will not be ready for trade talks until March, due to "institutional processes". 




Upcoming Data


Tuesday, 21st January, 2020

09:30 UK - Average earnings & employment change
10:00 EU - Euro-Zone economic survey and expectation
15:00 UK - BoE Governor Carney speaks at Davos conference 


Wednesday, 22nd January, 2020

09:30 UK - Pubic finances
12:00 US - Mortgage applications
14:00 US - House price index
15:00 US - Existing home sales

Thursday, 23rd January, 2020

12:45 EU - ECB's interest rate decision
13:30 US - Jobless claims
13:30 EU - ECB press conference
15:00 EU - Euro-Zone consumer confidence
15:00 US - Leading index

Friday, 24th January, 2020

08:15 EU - French PMI
08:30 EU - German PMI
09:00 EU - Euro-Zone PMI
09:30 UK - PMI
14:45 US - PMI


Dan Waterman
Office Manager



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