Sterling remains stable

Hi everyone,


There has been real signs of progress this week between the EU & UK, following the Johnson & Juncker lunch meet on Monday. In previous statements, the EU always maintained the negotiations could not be reopened. However, after the EU Commission Presidents comment of "negotiations will continue at high speed", it seems talks are already underway.


Both parties have confirmed they are in daily contact and the PM is set to unveil a new proposal at the UN assembly next week. The Supreme Court will also be ruling on the legality of the proroguing of Parliament then too, both events will influence Sterling. As will the BoE rate decision and following press conference tomorrow. 


Confidence in the Pound seems to be steadily growing at the moment, hence why we have slowly maintained the recent recovery. But the Pound does remain vulnerable to a pullback in the weeks to come, but for now sits at a 3-month high against the Euro & a 2-month high against the Dollar.





Upcoming Data

Thursday, 19th September, 2019

09:00 EU - Euro-Zone current account balance
09:30 UK - Retail sales
12:00 UK - BoE rate decision & conference 
13:30 US - Jobless claims
15:00 US - Home sales

Friday, 20th September, 2019

07:00 EU - German PPI
15:00 EU - Euro-Zone consumer confidence


Dan Waterman
Office Manager

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