e final full-week of trading this year is set to be an interesting one, with many different themes playing out into the new year. First and foremost, last week’s UK general election will continue to remain a huge talking point. The Conservatives have made it their absolute priority to depart from the EU by 31st January. The Queen’s speech will arrive this Thursday and from then onwards the news flow regarding potential dates for Parliamentary votes will commence. This could have an impact on the pound which is is now up over 12 cents against the greenback since the end of October.
Across the pond, President Trump signed a phase 1 deal with China on Friday further assisting risk markets. No doubt be there’ll be fresh speculation about this deal and the prospect for a phase 2 deal before the 2020 US election.
On the data front, the week sees flash PMIs from across Europe including UK estimates this morning. From the US we’ll see numbers regarding housing, industrial production, consumer sentiment and Q3 GDP. We’ll also observe a Bank of England monetary policy meeting which should taken on extra significance given last week’s huge result for the Conservatives.
Written by Viv Savani. 8:43am, December 16th 2019
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8:28am, January 14th 2020
UK rate cut expectations rise, GBP under pressure…