Fri, November 18, 2016
The Pound rose gained against the Euro for the second consecutive day after data showed U.K. spending bolstered in October, showing a resilient economy, months after the Brexit vote.
Retail sales were well above economists’ predictions. The quantity of goods sold in stores and online spiked 1.9% from September, when it advanced 0.1%. Sterling diminished earlier gains versus the Dollar as Federal Reserve Chair Janet Yellen said the U.S. central bank is close to raising interest rates.
Despite retail-sales data being the latest to show better than expected U.K. growth since the June 23 referendum, the economy is predicted to slow down beginning in 2017. Employment growth is already slowing and household incomes are coming under pressure as the fall in the pound since Britain’s decision to exit the EU spurs inflation.
The Pound rose 0.4% to 1.1687 against the Euro. Sterling was at 1.2453 against the Dollar, halting three days of declines. Fed Chair Yellen signalled a U.S. rate hike was imminent.
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
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| FRI | 07:00 | EUR | EUR German Producer Prices (MoM) | FRI | 07:00 | EUR | EUR German Producer Prices (YoY) | FRI | 08:00 | EUR | EUR ECB's Draghi Speaks at Euro Finance Week in Frankfurt | FRI | 09:00 | EUR | EUR Euro-Zone Current Account s.a. (euros) | FRI | 09:00 | EUR | EUR Euro-Zone Current Account n.s.a. (euros) | FRI | 10:30 | EUR | EUR Bundesbank's Weidmann Speaks at Euro Finance Week in Frankfurt | FRI | 10:30 | USD | USD Fed's Bullard SNB's Maechler Speak on Panel in Frankfurt | FRI | 15:00 | USD | USD Leading Indicators | FRI | 16:00 | USD | USD Kansas City Fed Manf. Activity | FRI | 18:00 | USD | USD Baker Hughes U.S. Rig Count |
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