Brexit talks resume in Brussels
10 November, 2017
Brexit talks resume
We saw the sixth round of brexit talks resume in Brussels yesterday. With the previous of talks giving no clarity to the Brexit negotiations it is remained to be seen whether these talks will be any different from the last. This week the market has been trading sideways with no major movements, the reason for this could be due to uncertainty of how the talks will progress. Should there again be no breakthrough on the UK securing a deal with the EU we could again see the Pound slump. Due to the further uncertainty surrounding brexit it may be prudent to secure your currency so you are not caught out to any nasty surprises should the market move against you.
Further to the pound’s potential woes is the ongoing political uncertainty. With two cabinet ministers Sir Michael Fallon and Priti Patel both resigning from the conservative party within a week of each other the Prime minister Theresa May is under further scrutiny on whether she is the woman to lead the party and the Country. Political uncertainty still continues to halt Sterlings recovery which doesn’t seem to be coming to an end anytime soon.
There a few major currency news data releases from the UK and US to take note of which are sure to create market volatility. Starting in the UK at 9.30am Manufacturing and industrial production is to be released. Industrial is expected to come in 0.1% higher than last month with Manufacturing expected to come in 0.1% lower than last month. Staying in the UK at 1pm as NIESR GBP estimate is released. Later in the US at 5pm Oil rig data is released.