Coronavirus continues to grip the UK
21 September, 2020
Ashley Finill
This week could be a pivotal week for the UK with the Coronavirus continuing to take it’s grip on the nation with the number of cases rising at an alarming rate. The government and its scientific advisors are set to meet this week to discuss another potential lockdown. Should another lockdown be put in place this could have a serious knock-on effect for Sterling as we saw with the last lockdown with the Pound losing over 10 cents against the Euro and US Dollar. With Sterling already in a very fragile position with Brexit trade talks taking place with seemingly no breakthrough on a agreement any nearer and the threat of a very possible no deal Brexit come the 15th of October these next few weeks are vital for Sterling’s fortunes.
Should a no deal Brexit be a reality come the 15th of October then there is a real possibility that parity with the Euro could be a reality. As we have seen historically with a threat of a no deal Sterling has reacted negatively going into freefall. Should you have a requirement for euros coming up within the next couple of month it may be prudent to look at your options with a forward contract being a great mechanism to lock in your currency in advance and avoid any nasty surprises in this unpredictable time we are in.
The week ahead
MONDAY, SEPTEMBER 21 | |||||||||||
12:30 | USD | Chicago Fed National Activity Index (Aug) | |||||||||
16:00 | USD | Fed’s Brainard speech | |||||||||
22:00 | USD | Fed’s Williams speech | |||||||||
TUESDAY, SEPTEMBER 22 | |||||||||||
00:30 | AUD | RBA’s Debelle speech | |||||||||
07:30 | GBP | BoE’s Governor Bailey speech | |||||||||
10:00 | GBP | CBI Industrial Trends Survey – Orders (MoM)(Sep) | |||||||||
12:00 | EUR | ECB’s Panetta speech | |||||||||
14:00 | USD | Existing Home Sales (MoM)(Aug) | |||||||||
14:00 | USD | Fed’s Chair Powell speech | |||||||||
14:00 | EUR | Consumer Confidence(Sep) PREL | |||||||||
23:00 | AUD | Commonwealth Bank Services PMI(Sep) PREL | |||||||||
23:00 | AUD | Commonwealth Bank Manufacturing PMI(Sep) PREL | |||||||||
WEDNESDAY, SEPTEMBER 23 | |||||||||||
01:30 | AUD | Retail Sales s.a. (MoM)(Aug) PREL | |||||||||
02:00 | NZD | RBNZ Rate Statement | |||||||||
02:00 | NZD | RBNZ Interest Rate Decision | |||||||||
06:00 | EUR | Gfk Consumer Confidence Survey(Oct) | |||||||||
07:15 | EUR | Markit Manufacturing PMI(Sep) PREL | |||||||||
07:15 | EUR | Markit Services PMI(Sep) PREL | |||||||||
07:15 | EUR | Markit PMI Composite(Sep) PREL | |||||||||
07:30 | EUR | Markit Manufacturing PMI(Sep) PREL | |||||||||
07:30 | EUR | Markit Services PMI(Sep) PREL | |||||||||
07:30 | EUR | Markit PMI Composite(Sep) PREL | |||||||||
08:00 | EUR | Markit Manufacturing PMI(Sep) PREL | |||||||||
08:00 | EUR | Markit Services PMI(Sep) PREL | |||||||||
08:00 | EUR | Markit PMI Composite(Sep) PREL |
Archive
- 2020 (59)
- 2019 (190)
- 2018 (229)
- 2017 (253)
- 2016 (254)
- 2015 (253)
- 2014 (252)
- 2013 (287)
- 2012 (270)
- 2011 (576)
New Articles
- Brexit deal to be done, or going, going, gone? 25 November, 2020
- Sterling starts the week down from the highs of last week 16 November, 2020
- Votes are in – albeit still being counted, will Donald trump Joe? 4 November, 2020
Categories
- No categories