Sterling softer today after impressive gains last week

Hi everyone,

Last week was an astonishing week of volatility that ended with the Pound at multi-month highs after positive Brexit talks. This week, the market will wait on solid details and proof that a deal can be struck or not by the EU and UK.

Even though we have started the week 1 cent down on last weeks high, we are still up an impressive 3% against the $ and 2.5% against the €. A more measured tone on Brexit negotiations today has pulled the Pound back and those crucial talks resume later on.

In what is already a mammoth week ahead for the UK and £, it is also a huge week data-wise for the majors and mainly Governor Carney and the UK. Practically everyday has the ability to move £ significantly, so be prepared for both political and economical market volatility. 

We currently sit at the best time to buy Euros since May and the best time since July to buy Dollars. 




Upcoming Data


Tuesday, 15th October, 2019

00:00 US - Monthly budget statement
09:30 UK - Governor Carney testimony, average earnings & jobless claims
10:00 EU - Euro-Zone expectation survey


Wednesday, 16th October, 2019

09:30 UK - CPI, PRI & PPI
10:00 EU - Euro-Zone CPI & trade balance
12:00 US - Mortgage applications
13:30 US - Retail sales
14:00 UK - Governor Carney IMF event

15:00 US - Business inventories
19:00 US - FED releases beige book
23:00 UK - Governor Carney Havard event 

Thursday, 17th October, 2019

09:30 UK - BoE liabilities & credit conditions & retail sales
10:30 EU - Euro-Zone construction
13:30 US - Building permits, jobless claims
14:15 US - Industrial & manufacturing production 

Friday, 18th October, 2019

00:00 UK - Sovereign debt
15:00 US - Leading index
18:45 UK - Governor Carney speaks in Washington


Dan Waterman
Office Manager



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