GBP Likely to Remain Range Bound, FTSE May Eye New High
With Christmas fast approaching, UK financial markets will be looking overseas to see if US President Donald Trump’s tax reforms are voted on and passed. These, potential, tax cuts have fueled this year’s strong surge in global asset markets and any confirmation will likely fuel the rally a little further. However, any delays or major amendments would see the greenback come under selling pressure while equity markets would shed recent gains.
Other topics covered in today’s webinar included –
- Brexit negotiations are moving on to stage two, after the EU indicated last week that sufficient progress had been made. These talks will include UK/EU post-Brexit trade agreements, a potentially tricky and important area for both sides. UK PM Theresa May will update Parliament on her vision for Brexit Monday afternoon.
- The only heavyweight UK data this week should see Q3 GDP confirmed at 0.4% q/q and 1.5% y/y.
- The Catalonian independence referendum on Thursday could jolt the Euro out of its recent trading ranges. The latest polls however suggest that the pro-independence parties will not achieve their aims.
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
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.