The Pound and EUR Remains in Focus Amidst Geo-Political Risks

Daily Update - 13th November 2018

Yesterday’s Market

• Veteran Day

Yesterday’s Explained

Due to Veteran’s Day celebrated and nearly all Global Economies had a quiet start the Market was majorly reacting based on the Geo-Political & Economic Projections made on Thursday & Friday by US Federal Reserve. Further along with that Economic Slowdown in China, Brexit Uncertainty, and the standoff between Rome and the European Union over Italy’s plan for a big-spending budget and wide fiscal deficit.

 

Today’s Market

• GBP average Hourly earnings
• EUR ZEW Survey- Economic sentiment

Today’s Focus

For the Pound, it’s a busier day on the data front, with key stats scheduled for release this morning including September’s wage growth and unemployment rate and October’s claimant count figures. While the numbers traditionally have a material influence on the Pound, we can expect a relatively muted response this time around, with focus remaining on Brexit through the day, the Pound joining the EUR on a slide, with market jitters over a Brexit no deal weighing.

For the EUR, economic data includes finalized October inflation figures out of Germany that are unlikely to have a material impact on the EUR and November economic sentiment numbers out of Germany and the Eurozone, with influence hinged on the Italian Coalition government’s budget submission, which will remain the markets main area of focus.