The Pound steadies after recent losses

Hi everyone,

It looks as if the €-£ march has been stopped, as 1.15 mid-market becomes its consolidation point (for now). Just two-weeks ago we were seeing the attractive 1.20 levels, which look to be a thing of the past for the next couple of months at least. 

Analysts have suggested that the current trading levels have already priced in an interest rate cut at the end of the month. But if that doesn't happen, we will see the Pound rise. We will shortly be hearing from the new BoE Governor Andrew Bailey, who will set the tone for Sterlings performance this afternoon and also provide us with a good indication of what type of Governor he will be. 

Tomorrow, we will hear news of how the week's EU-UK trade negotiations have gone which could go either way at this point. 




Upcoming Data


Wednesday, 4th March, 2020

15:00 US - Non-Manufacturing/Services composite
19:00 US - FED releases beige book

Thursday, 5th March, 2020

08:30 EU - German construction PMI
13:30 US - Jobless claims
15:00 US - Durable goods & factory orders
17:00 UK - BoE Governor Carney conference

Friday, 6th March, 2020

07:00 EU - German factory orders
13:30 US - Non-farm payrolls, unemployment rate, trade balance & average earnings


Dan Waterman
Office Manager



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