Sterling strengthens once again

Hi everyone,

The Pound is performing strongly across the board, especially against the Euro where we have broken 1.17. This is significant and the longer we stay above this level the better chance the position can be consolidated up until the election vote, instead of uncertainty clouding the Pound and making it weaker.

There have been only 4 times since May 2017 that £-€ has traded this high, so it would be wise considering exchanging if anything is in the pipeline. £-$ rates have also hit a 1-month high. Optimism has certainly returned for Sterling sellers.
The latest YouGov poll shows the Conservatives have increased their lead over Labour, which would currently allow a Tory majority Parliament to pass the PM's Brexit deal. Odds of this outcome now sit at 65% and would see the Pound probably improve 2%+ initially. 

It's relatively quiet on the data-front this week, but tomorrow will see the Johnson v Corbyn Television debate at 8pm. This is a potential market mover depending on how they both perform. A must watch!




Upcoming Data


Tuesday, 19th November, 2019

09:00 EU - Euro-Zone current account 
10:00 EU - Euro-Zone construction output
13:30 US - Building permits & housing starts

Wednesday, 20th November, 2019

07:00 EU - German PPI
09:00 EU - ECB publishes financial stability review
09:30 UK - Labour costs
12:00 US - Mortgage applications
19:00 US - FOMC meeting 

Thursday, 21st November, 2019

09:30 UK - Public finances 
10:00 EU - Economic outlook & Bundesbank publishes financial stability report
12:30 EU - October policy meeting
13:30 US - Jobless claims
15:00 EU - Euro-Zone consumer confidence
15:00 US - Home sales 

Friday, 22nd November, 2019

07:00 EU - German GDP
08:00 EU - ECB President Lagarde conference
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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