28th November 2019 Market Update
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🇬🇧 GBP – The much anticipated Yougov poll was released last night and results showed that if the election was today the conservative party would win 359 seats, which is up from 317 seats at the last election. This result would mean that Johnson gains a very healthy majority of 68, which is the Conservative’s largest in three decades.
The poll also predicted that the labour party would lose 51 seats and the Liberal Democrats would gain just one seat leaving them with a mere 13, showing that their anti-Brexit stance has backfired which highlights the fact that the British public want clarity rather than a reversal of the original democratic Brexit vote.
Corbyn before this has seemingly made steady gains throughout the last few days which has been shown on other opinion polls but needs a huge push over the next two weeks to defy odds and stop the conservatives gaining a very likely majority.
All eyes will now be on the first TV debate which is taking place tonight at 7pm
🇪🇺 EUR – It was another quiet day for the euro yesterday.
German CPI Data is expected to drop to 0.7% today, which could put further pressure on the recently lacklustre euro.
🇺🇸 USD – All data releases from the US yesterday came out positive – core durable goods orders showed a large increase and rose 1% higher than expected to 0.6%, and prelim GDP improved to 2.1%.
It is a US Bank holiday today so although we can still lock rates in no USD transfers will be sent until tomorrow.
GBP: Sterling climbs to new 6 months highs
EUR: German inflation due out today
USD: US closed for Thanksgiving
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