21st December 2017 Market Update
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?? GBP – Sterling remains range bound against the dollar. It has started to lose ground however against the euro in light of broader euro strength across the board.
?? EUR – The euro continues to steadily rise across the board, an indication of improving sentiment toward the euro.
?? USD – No notable events for currency movement.
09:30am: UK Public Sector Net Borrowing
13:30pm: CPI, Retail Sales
13:30pm: Final GDP, Philly Fed Manufacturing
Summary: The euro yesterday continued its steady rise as market participants continue to filter away for the festive season. This perhaps could be an indication of general market sentiment next year, as the ECB have thus far kept their powder dry, maintaining low rates and QE, if they start to unwind this the euro is likely to appreciate strongly.
Elsewhere Damian Green, Theresa May’s deputy PM has stepped down in disgrace after a series of allegations regarding misuse of government computers, this will add further uncertainty to GBP going into next year.
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