Daily Update - 14th November 2018
United Kingdom released their GBP Average hourly earnings for this quarter which didn’t impress the market overshadowing the current Brexit tensions. Country also released the ZEW survey for November which showed that economic sentiment in the country deteriorated less than expected. It also came out from the economist that the growth forecast is low and gradually move the next year. On Wednesday, for the EUR we will expect focus to be on Germany’s GDP numbers, a projected quarter-on-quarter contraction likely to consider on the EUR should the numbers be in line with or worse than forecasted, with any contraction ultimately a negative as concerns over the global economic outlook build. For the Pound, outside of the numbers, we can expect more price action over Brexit, with the British PM now needing to sell the reported draft Brexit plan to her cabinet and beyond. Across the Pond, outside of the numbers, we can expect some movement off the back of a scheduled FED Chair Powell speech, with members Quarles and Daly also due to speak through the day. On the political front, Brexit, the Eurozone and the Oval Office will influence demand for the safe havens, with the markets likely to be in search of more progress on U.S – China trade talks.Yesterday’s Market
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