Euro rose against the Dollar despite an unexpected drop in German Industrial Production Data reported this morning. Against the Euro, the Sterling was trading down at 90.33 pence, having hit a near 9-week low of 90.54 during the Tokyo Session. For long term trades, the Forex and Stock Market Analysts are recommending to go short, SELL GBPUSD. Trade GBPUSD with Noor Capital. Try a Demo Account today or Open A Live Account and start growing your wealth.
To settle the Brexit divorce bill, the UK will offer 36 Billion Pounds ($47 Billion) as reported by the Sunday Telegraph over the weekend. With the Brexit-Inflation combo bite, the UK Economy doesn’t have much of a buffer.
Strong gains in hiring and a slight decline in the US Jobless Rate last month will keep the Federal Reserve on track to begin slowly shrinking its Balance Sheet, reports the Wall Street Journal. All major Central Banks now face a similar dilemma. The failure of wages to rise makes it hard to know when Interest Rate increases might be needed. But in the UK, that assessment is made more complicated by Brexit.