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Webinar: UK Markets May Dance to Brexit's Tune Next Week

Webinar: UK Markets May Dance to Brexit's Tune Next Week

Nick Cawley, Strategist

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.

How are retail traders positioned in GBP/USD and why does it matter? Check out the latest IG Client Sentiment Guide.

If you would like to know the number one mistake traders make and how to react, download our free Traits of Successful Traders Guide.

If you missed this webinar and would like to know about future events, see the full DailyFX webinar schedule here.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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