While the latest FOMC and ECB rate decisions on Wednesday and Thursday respectively may hold global sway, UK data and the Brexit Withdrawal bill vote will be of more interest to GBP and FTSE traders. The latest UK data painted a picture of weak underlying Q2 growth, an unwanted headache for UK PM Theresa May – and Bank of England governor Mark Carney - ahead of the Brexit vote in Parliament.
Other trading topics covered include –
- UK PM Theresa May livelihood may be at stake as the EU Withdrawal bill goes to the vote in the House of Commons.
- UK jobs, wages and inflation data may give clues to the timing of any UK rate hike.
- The FOMC are fully expected to raise rates on Wednesday by another 0.25% while ECB President Draghi may well unveil a timetable for ending QE on Thursday.
- GBPUSD and EURGBP trade set-ups look risky but Sterling bulls should keep tabs on GBPNZD and GBP CAD for potential long UK positions.
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--- Written by Nick Cawley, Analyst
To contact Nick, email him at nicholas.cawley@ig.com
Follow Nick on Twitter @nickcawley1
