Mon, October 24, 2016
The U.K. economy appears to be withstanding Brexit better than many predicted, however it’s still on track for its worse performance in a year.
After a 0.7% Gross Domestic Product increase in the second quarter, economists forecast just 0.3% in the three months since the vote to exit the EU. While that’s far from the recession that some warned the referendum would trigger, it would still be just half the average quarterly pace over the past four years.
A debate about the future of the BOE governor may be the last thing U.K. markets need.
Among anxiety about Britain’s relationship with the EU, Mark Carney has been imposed as a source of stability even as he faces renewed political judgement. But with a year-end deadline to decide how long he’ll stay at the BOE, that security could be rattled.
Against the Euro, Sterling is down 21% this year, and was at 1.1241 as of 8:30 a.m. It’s near a three-decade low against the Dollar at 1.2233.
Data to look out for today.
Not Much Data Out Today
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PRESS RELEASE
KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html
| Day | Time | Currency | Event |
|---|---|---|---|
| MON | 06:30 | GBP | GBP BOE's Minouche Shafik Speaks At Conference in Hong Kong | MON | 07:00 | EUR | EUR Markit France Composite PMI | MON | 07:00 | EUR | EUR Markit France Manufacturing PMI | MON | 07:00 | EUR | EUR Markit France Services PMI | MON | 07:30 | EUR | EUR Markit/BME Germany Manufacturing PMI | MON | 07:30 | EUR | EUR Markit/BME Germany Composite PMI | MON | 07:30 | EUR | EUR Markit Germany Services PMI | MON | 08:00 | EUR | EUR Markit Eurozone Manufacturing PMI | MON | 08:00 | EUR | EUR Markit Eurozone Services PMI | MON | 08:00 | EUR | EUR Markit Eurozone Composite PMI | MON | 09:00 | EUR | EUR Euro Area Second Quarter Government Deficit | MON | 09:00 | EUR | EUR Euro Area Second Quarter Government Debt | MON | 10:00 | GBP | GBP CBI Business Optimism | MON | 10:00 | GBP | GBP CBI Trends Total Orders | MON | 10:00 | GBP | GBP CBI Trends Selling Prices | MON | 12:30 | USD | USD Chicago Fed Nat Activity Index | MON | 13:00 | USD | USD Fed's Dudley Speaks at U.S. Treasury Market Event in New York | MON | 13:05 | USD | USD Fed's Bullard Speaks on Economy Monetary Policy in Arkansas | MON | 13:45 | USD | USD Markit US Manufacturing PMI | MON | 13:50 | GBP | GBP Bank of England Bond-Buying Operation Results | MON | 15:30 | USD | USD U.S. to Sell 3-Month Bills | MON | 15:30 | USD | USD U.S. to Sell 6-Month Bills | MON | 17:30 | USD | USD Fed's Evans Speaks in Chicago | MON | 18:00 | USD | USD Fed's Powell Speaks at New York Fed Event on Treasury Market |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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