A huge week ahead for the pound and markets in general
After a brutal week for stock markets and one which saw a mixed performance from the greenback, participants return to their desks with an absolute monster week for event risk. Below is a list compiled of the key events, the currency affected and the time they’re scheduled to take place.
1. Brexit vote – GBP – Tuesday evening c.19:30
2. European Central Bank announcement – EUR – Thursday lunchtime
3. US/China trade tensions – USD & CNH – ongoing
4. US inflation data- USD – Wednesday 13:30
5. US retail sales data – USD – Friday 13:30
In essence, a huge week for the pound, US dollar and euro (GBPEUR & GBPUSD especially). Theresa May will have her Brexit showdown in Parliament with all sorts of rumours flooding the news wires over the weekend about what her strategy may be to eventually have her, or should we say ‘a’, deal passed.
From the US it’s all about the economic numbers and the ongoing spat with China, which hasn’t been helped by the arrest in Canada of the owner of Chinese company Huawei’s daughter. All of the recent volatility across US markets has even created the rumour the Fed may consider postponing December’s rate hike to assist markets weather the storm.
Mario Draghi will have another opportunity to inform the markets of where he sees policy heading, this comes as the central bank end their nearly half-decade money printing program to stimulate the eurozone economy.
Written by Vivek Savani. 9:07am, December 10th 2018
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