Election Imminent

30 October, 2019

Alister Lovett

Yesterday Jeremy Corbyn has backed the idea to have a general election on the 12th of December.  Why this seems likely Still lots of uncertainty especially with the possibility of so many different outcomes. This has meant the rate has moved over half a cent within a couple of hours and is now strongest it has been since May. While this is a very positive outcome still the chance the rate could start fall depending on the ongoing uncertainty with Brexit. We have also seen the Value of House prices rise by 0.2% although this didn’t have much of an impact on the currency it is a positive for the UK economy and with talk of that percentage on the rise could be very sensitive for the pound going forward. Not a lot of other stats to talk about simply with the main focus being on Brexit.

Today at 8:55 we will see the Eco stats for Germany unemployment rates which is expect to be around 5% with anything over that could have a Positive effect to GBP- EUR. As well as this other European data at 10:00 including Business climate good result will have a positive effect on the euro and anything others will weaken it. some important USD data coming out at 12:00 elsewhere Canada will have an interest rate decision at 14;00. And to round it off US interest rate decision will be 18:00.

With the rate being the best in 5 months do keep close contact with your dedicated currency consultant to see how you can benefit from the improving rate in this uncertain time.