Imminent Cabinet Reshuffle Mars Sterlings Recovery

The Recent ongoing speculation of Theresa May’s imminent cabinet reshuffle has given Sterling an early boost as the market re-opened after the weekend. With the Pound losing ground against the major’s last week after Theresa May’s eventful speech in which several Conservative party member where thought to have said that she is not fit to run the party. However, over the weekend the Tory mp’s have backed Theresa May to remain the leader and thus has seen the pound make a steady climb throughout yesterday Morning.

In the afternoon the tide had somewhat changed and Sterling fell back to the levels of which the market opened. With once again political uncertainty marring Sterling’s recent gains it may be worth considering purchasing the Currency you require if you are selling Pounds. Brexit negotiations are still ongoing and are seemingly like a slanging match as both parties are desperately trying to come to an agreement with no real results.

Busy day on the markets

Today should be a busy day on the currency market with several key data releases and the US market re-opening this week due to Columbus day yesterday.

Starting in the UK, at 9.30am manufacturing and industrial production figures will be announced, manufacturing is expected to show a contraction of 0.3% from 0.5% whilst industrial production is expected to remain the same. Staying in the UK as at 1 pm the NIESR GDP estimate is to be released. Later in the afternoon at 3 pm FOMC member Neel Kashkari will speak.  Stay in contact with your broker at Currency Index to stay ahead of the market.  They can help you secure the rate you desire.

Stay in contact with your broker at Currency Index to stay ahead of the market.  They can help you secure the rate you desire. Why not place a limit order? Once the desired rate is achieved the order will be placed, talk to someone today.