Sterling regains composure

Hi everyone,

The Pound's slide has ended for now with many analysts suggesting the recent sell-off was 'overdone'. At one point yesterday, £-€ was close to breaching 1.16 and £-$ was down to the low 1.29's. The depreciation is considered to be exaggerated and unjustified and this is why Sterling has recovered some ground.

The consensus from the majority of analysts is that near term the Pound will trade around £-€1.15-1.20 & £-$1.26-1.32 levels for the majority of the year, as trade negotiations hold Sterling back. Personally, I think the Pound will be pushing through the £-€1.20 & £-$1.32 boundaries at points in the year, as economies in the EU will come under pressure. The market is still so £ focused, that it is forgetting about the problems elsewhere. The next two days should give an insight into this with German and Italian figures. 


 

 

 

Upcoming Data

 

Thursday, 6th February, 2020


07:00 EU - German factory orders
08:00 EU - ECB President Lagarde conference 
08:30 EU - German construction PMI
09:00 EU - ECB publishes economic bulletin
13:30 US - Jobless claims


Friday, 7th February, 2020


00:00 EU - Italian sovereign debt rating
07:00 EU - German industrial production & trade balance
13:30 US - Non-farm payrolls, unemployment rate & average earnings
16:00 US - FED releases semi-annual monetary policy report
20:00 US - Consumer credit
  

 
 
 



Dan Waterman
Office Manager

 
 
 


 

 
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