Tue, July 17, 2018
Sterling remains volatile as political drama continues to dominate. Theresa May’s fate looks on the line over her Brexit plans and the August Bank of England meeting coming closer.
The political backdrop in the U.K. could well determine the market, as the government is faces tough choices on whether to extend the Brexit process or even hold a fresh referendum.
Sterling looked vulnerable after the PM’s Brexit plan created a revolt from euroskeptic lawmakers, a leadership challenge for the prime minister, while it could benefit if the European Union accepts her proposals. Sterling fell nearly 6% last quarter to around $1.32,
The Pound rose to $1.3247. Sterling fell to 1.126 against the Euro from 1.13.
Data to look out today.
Not much data due out today.
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| Day | Time | Currency | Event |
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| TUE | 06:00 | EUR | EUR EU 25 New Car Registrations | TUE | 08:00 | GBP | GBP BOE's Carney Cunliffe | Stheeman Speak on Financial Stability | TUE | 08:30 | GBP | GBP Claimant Count Rate | TUE | 08:30 | GBP | GBP Jobless Claims Change | TUE | 08:30 | GBP | GBP Average Weekly Earnings (3M/YoY) | TUE | 08:30 | GBP | GBP Weekly Earnings ex Bonus (3M/YoY) | TUE | 08:30 | GBP | GBP ILO Unemployment Rate 3Mths | TUE | 08:30 | GBP | GBP Employment Change 3M/3M | TUE | 13:15 | USD | USD Industrial Production (MoM) | TUE | 13:15 | USD | USD Manufacturing (SIC) Production | TUE | 13:15 | USD | USD Capacity Utilization | TUE | 14:00 | USD | USD NAHB Housing Market Index | TUE | 14:00 | USD | USD Powell to Deliver Semi-Annual Testimony Before Senate Panel | TUE | 15:30 | USD | USD U.S. to Sell USD26 Bln 52-Week Bills | TUE | 15:30 | USD | USD U.S. to Sell 4-Week Bills | TUE | 20:00 | USD | USD Total Net TIC Flows | TUE | 20:00 | USD | USD Net Long-term TIC Flows |
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