Talking Points
- UK manufacturing and industrial production data.
- UK political backdrop drives nervous markets.
With the UK financial markets rattled by the unexpected election result, up to date, informed analysis is critical when steering a path through troubled waters. See all analysts’ views and trade ideas at DailyFX Webinar Calendar.
In this webinar we look at the latest ‘hard’ UK data against the backdrop of the result of the UK General election and discuss UK assets and markets. A coalition with the Democratic Unionist Party looks likely and would keep UK PM Theresa May in power.
The UK manufacturing sector has been weak in 2017, causing a slowdown in UK growth to just 0.2% in the first quarter. Soft data however have been more positive, causing analysts to query where the UK economy stands right now. The latest batch of data may give more concrete evidence of the strength of the economy as Brexit negotiations draw ever closer.
GBP remains weak after the UK General Election result but is there more downside as political worries increase? The FTSE 100 has moved higher, due to a weaker British Pound, but is the uptick sustainable?
Chart: GBPUSD Daily Timeframe (February 13 - June 9, 2017)
--- Written by Nick Cawley, Analyst
To contact Nick, email him at nicholas.cawley@ig.com
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