Unpredictable week ahead for Sterling

Hi everyone,

It was a good week for the Pound, gaining 2% back against the Euro and pushing close to 1.10 once again. We have dropped off today and are in the red across the board, presumably this is just a sell off from the sudden spike seen last week.

The positive jump was on the back of Parliament potentially finding a way to instruct Government to request a Brexit extension. The possibility of a 'caretaker' Government are small at this stage, but this may force Boris Johnson to compromise come deadline day.

The Euro-Zone is expected to weaken slightly again this week, as we see results of PMI readings on Thursday. It is forecast to show the Euro-Zones economy is struggling and £-€ should strengthen on the back of the data.

The PM is meeting with both Chancellor Merkel and President Macron this week and the reaction to the meetings will cause market volatility. 




Upcoming Data


Tuesday, 20th August, 2019

06:00 EU - German PPI
09:00 EU - Euro-Zone construction output

Wednesday, 21st August, 2019

08:30 UK - Public finances & borrowing 
11:00 US - Mortgage applications
14:00 US - Existing home sales
18:00 US - FOMC meeting

Thursday, 22nd August, 2019

07:15 EU - French PMI
07:30 EU - German PMI
08:00 EU - Euro-Zone PMI
11:30 EU - ECB policy meeting
12:30 US - Jobless claims
13:45 US - PMI
14:00 EU - Euro-Zone consumer confidence

Friday, 23rd August, 2019

14:00 US - Fed chair Powell conference 


Dan Waterman
Office Manager

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