Webinar: UK Markets May Dance to Brexit's Tune Next Week
In this webinar we looked ahead to next week’s drivers for GBP after a week in which the Bank of England raised interest rates for the first time in a decade. With little in the way of high importance releases or data points ahead, the ongoing Brexit negotiations will hove back into view.
Discussions included –
- GBP slipped after the BOE raised rates as expected this week with Governor Mark Carney noting that Brexit may still de-rail the economy unless an agreement is reached.
- UK Brexit minister David Davis will meet with his EU counterpart Michel Barnier at the back end of next week with hope growing that talks can move forward to trade discussions.
- GBP has given back a lot of its recent gains against various currencies but may be approaching oversold territory, especially if Brexit talks are productive.
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--- Written by Nick Cawley, Analyst
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.