Sterling upside to remain limited

Hi everyone,

Sterling is currently performing above expectations as the polls suggest an early Tory victory for the upcoming election. As mentioned previously, the Pound is almost in a state of limbo and will continue to perform close to current levels until the election result. 

Tomorrow we may see slight volatility with some key data out of the majors, including the BoE rate decision and following press conference with Governor Carney to watch out for. 

£-€ is trading at one of the strongest times in the last two years with £-$ falling away from the important psychological barrier of 1.30. Hedging should be considered for any payments between now and the election for Sterling sellers, in case of a Labour victory or Labour-led hung Parliament. 




Upcoming Data

Thursday, 7th November, 2019

07:00 EU - German industrial production
08:30 EU - German PMI
09:00 EU - ECB publishes economic bulletin
09:30 UK - Office for Budget responsibilities publishes forecast
10:00 EU - Commission economic forecast
12:00 UK - BoE rate decision and inflation report
12:30 UK - BoE conference

13:30 US - Jobless claims
20:00 US - Consumer credit

Friday, 8th November, 2019

00:00 UK - Sovereign debt
07:00 EU - German trade balance


Dan Waterman
Office Manager



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