Brexit or not to Brexit

10 November, 2015

Reality hit home yesterday as risk aversion set in causing equities to sell off but FX markets had a placid session in the absence of any major economic data releases. Sterling and the FTSE will be the ones to watch today with David Cameron making his big speech on the UK membership of the European Union and already this morning GBPUSD is a little softer, however the FTSE is expected to recoup the 6300 level on the open this morning. He will set out his four major reforms and the clock will start ticking until the referendum takes place, regardless of whether an official date is set today or not, as we know for sure it will be before the end of 2017. The major issue faced by Cameron is timing because if his demands require treaty changes that need to be ratified before the vote then the end of 2017 is unrealistic since it can take many years for all member states to accept such structural alterations. One thing is certain and that is today the starting gun will fire leading to many months of debate over whether Brexit is in the best interests of the UK, its businesses and people.

Softer inflation from China overnight has had little impact on the markets so far as tomorrow’s retail sales and industrial production are more likely to have an effect. The economic calendar is quiet today so it’s all eyes on sterling where cable is now testing 1.5100 at the time of writing.


Source link  
Market Concerns Eased

The first-round voting of the French presidential election was revealed on Sunday night...

Dollar Plunged on Trump Second Statement

The dollar index fell to a 2-week low of 99.91 in the early hours...

Markets Eye on the First Trump-Xi Meeting

US President Trump and Chinese president Xi Jinping, are scheduled to meet today at Trump’s Mar-a-Lago resort in Florida...


Will the French Presidential Election affect EUR?

The first round of the French presidential election...

USD Firms Ahead of Q4 GDP Final Reading

The dollar index has rebounded noticeably from a 4-and-a-half-month low of 98.85, helped by outperforming...

Divergence Between Fed and BoJ

The March FOMC meeting will be held for two consecutive days from today. The interest rate decision will be announced at 18:00 GMT on Wednesday 15th March...


Market Volatility Expected Ahead of President Trump's Speech

In a speech that will be watched by millions of viewers in the United States and around the world, the President is expected to speak of his presidency and address pressing issues like his plans for health care, the tax system, the military, and his goals for his administration...

Gold Trades Below Resistance Ahead of the Fed and NFP

We will see the release of the US ISM Manufacturing PMI, and ISM Prices Paid for January, at 15:00 GMT on Wednesday 1st February...

Sterling Struggles Ahead of Theresa May's Speech

Theresa May will make a speech outlining her plans for Brexit tomorrow, Tuesday 17th Jan, before the UK triggers Article 50 to leave the EU...

  


Share: