All attention this week will be on Tuesday’s ‘meaningful’ Brexit vote on Theresa May’s withdrawal agreement. Thus far, the EU’s Chief Negotiator Michel Barnier’s stance has remained unchanged, with seemingly no concessions won. Further talks will take place today, although much change seems unlikely.
On Wednesday, we also have the spring budget statement for the UK – although not as key as the actual Autumn Budget, it will be interesting to see what the Chancellor has to say so soon after the Brexit vote. It’s otherwise a quiet week for economic releases in the Eurozone and pound – a contrast to last week, when the pound hit the highest level since June 2017 against the euro, as the ECB slashed growth forecasts.
The dollar strengthened again last week, and there are a number of releases to look out for this week, including durable goods orders, consumer sentiment, jobless claims and home sales.
This week will be extremely volatile with the Brexit vote, no matter which way it goes – so make sue to lock in your rate today with a forward contract. Call your Personal Trader on 020 7898 0541 to find out more.