Mon, November 21, 2016
Pound traders will finally get a glance into Britain’s economic future and the direction of sterling next week.
The Pound declined for a fifth day against the Dollar Friday, finishing a run of 2 weeks of gains. On Wednesday, Philip Hammond will give his first budget update, enabling investors to have an understanding to his budget policies. Analysts predict increased spending and fiscal stimulus, both of which may help the U.K. currency. While the economy has proved resilient since Britain voted in June to leave the EU, growth is expected to slow in 2017.
Sterling fell 2.1% last week to 1.2327 against the Dollar as of 5 p.m. Friday. It plunged to a 31-year low of 1.1841 on Oct. 7, and is down about 17% against the dollar since June 23, the day of the Brexit vote. Sterling advanced 0.4% to 1.1637 against the Euro.
Data to look out for today.
Not Much Data Out Today
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| Day | Time | Currency | Event |
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| MON | 13:30 | USD | USD Chicago Fed Nat Activity Index | MON | 16:00 | EUR | EUR ECB's Draghi Speaks at European Parliament in Strasbourg | MON | 16:30 | USD | USD U.S. to Sell 3-Month Bills | MON | 16:30 | USD | USD U.S. to Sell 6-Month Bills | MON | 18:00 | USD | USD U.S. to Sell 2-Year Notes |
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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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| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 1 | 2 | 3 |
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