Sterling stable for now

Hi everyone,


The headlines today read - "UK will be poorer economically under any form of Brexit". 

Official figures released from the treasury today, estimate a 3.9% contraction under Theresa May's deal and a 9.3% hit with a no-deal scenario over the next 12 years. But no mention of how trade deals with other nations will help our economy...

The assumption from the majority of analysts is for May's deal to not pass parliament. A narrow defeat could turn out positive for the £ though, as it would signal that the bill COULD be passed in a second outing, provided amendments are made.

However, a sizeable defeat would almost certainly mean a 'no-deal' outcome and probable resignation from May. From there it is anyone's guess on what happens next, but the Pound will fall short term and a general election i'm sure would be pushed for.

The countdown of the parliament meeting begins and for now Sterling remains stable. 


 

 
Upcoming Data

 
 
Wednesday, 28th November, 2018
 
15:00 US - New home sales
17:00 US - Fed's Powell conference

 
Thursday, 29th November, 2018

07:45 EU - French GDP
08:55 EU - German unemployment
09:30 UK - Consumer credit and mortgage approvals
10:00 EU - Euro-Zone consumer confidence
13:00 EU - German CPI
13:30 US - Personal income & spending, home sales & jobless claims
19:00 US - FOMC meeting

 
Friday, 30th November, 2018


00:00 UK - GFK Consumer confidence
10:00 EU - Euro-Zone CPI
11:00 EU - Italian GDP
 
 
Dan Waterman
Office Manager
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