Busy week of data as UK Brexit vote looms
7 January, 2019
This week marks the first full week back of 2019, and one that is busy in the way of data. Last week was as expected relatively quiet, albeit we did see the Pound make a minor recovery bouncing off the lows we saw over the Christmas period, showing better than expected services growth on Friday and gaining just over 0.5% against both the single currency and Greenback. The recovery was aided with a technical correction as it bounced of lower levels, however data this week will begin to influence rates, whilst the focus will, of course, remain on Brexit as next week sees the first UK parliamentary vote on the withdrawal deal.
It is largely believed this deal is unlikely to make it through, and as such the Pound does remain extremely vulnerable, with GBP>EUR rates in part being held up as a result of a weak Euro due to concerns about Eurozone Growth.
This week does see a flurry of data, with a speech from Bank of England Governor Mark Carney and UK GDP on Friday. Eurozone and US data runs through the week, whilst there are also major releases elsewhere in the world- notably Switzerland and Canada – so stay in touch any of those readers with interests in CHF or CAD.
If you have any upcoming transfers to make, this week will be a busy one across the board as we see numerous big data releases, but also as volatility increases as we get closer to next weeks vote. Stay in contact with your account manager for some friendly guidance on how to remove the risk in what will be a busy week, and don’t be caught out with any costly movements in the exchange rate.
09.30 EUR Sentix Investor Confidence
10.00 EUR Retail Sales
17.40 USD FOMC Bostic Speech
06.45 CHF Unemployment Rate
07.30 CHF Retail Sales
10.00 EUR Business Climate data
13.30 USD Trade balance data
20.00 USD Consumer Credit Change
07.00 EUR Trade balance, Import & Export data
10.00 EUR Unemployment rate
15.00 CAD BoC monetary policy statement & conference
15.30 GBP BoE Governor Mark Carney Speech
19.00 USD FOMC Minutes
09.30 GBP BoE Credit conditions survey
12.30 EUR ECB Monetary policy meeting and accounts
17.00 USD FED Powells speech
09.30 GBP GDP data
13.30 USD Consumer Price Index data
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