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Market Reports

8:46am, November 11th 2019

Heavy week for economic data…

It’s another important week for financial markets just as risk sentiment begins to sour, with US & China trade talks taking a negative turn while chaos continues in Hong Kong.

The main focus for economic data will land at the UK’s doorstep. This follows on from a move by Moody’s ratings agency to downgrade the UK from a stable to a negative outlook on Friday night. This week sees an all-important Q3 GDP print which, if negative, could confirm the UK is in a technical recession after Q2’s ghastly print. In addition, we’ll also see UK reports relating to unemployment, inflation and retail sales. All-in-all a very big test for the pound. Even though sterling has not been taking too much notice of economic numbers, this week’s sheer volume of data could provide some meaningful movement.

Elsewhere, Donald Trump will speak at the Economic Club of New York tomorrow while Jay Powell, Fed Chair, will testify to a joint economic committee on Wednesday and Thursday at Capitol Hill.

Additionally, this week sees US inflation and retail sales numbers as well as German GDP data which, like the UK, could confirm a technical recession in the eurozone’s largest economy.

Written by Viv Savani. 8:46am, November 11th 2019

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

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