The pound had a relatively choppy end to the week on Friday, after Mark Carney hinted at an interest rate cut, and said that it could be ‘relatively prompt’ if problems persist. Sterling is weaker this morning as another Bank of England policymaker said he could vote for a rate cut later this month. This week will see a number of data releases, and the Withdrawal Agreement Bill will make its way through the House of Lords.
The Eurozone’s industrial sector has caused concern in recent months, but last week was quite positive, with data beating expectations for Germany, France and Spain. This week, we’ll see further data releases, especially from Germany, and it will be interesting to see if there are any further signs of a change to the slowdown.
US joblessness held at a near-50-year low, which helped the dollar to end the week on a stronger note, as did the seeming diffusion of tensions with Iran.
As last week’s political incidents showed, there’s no way to predict what’s on the horizon. Lock in your rate with a forward contract and you won’t have to worry about a sudden market change causing your budget to lose value. Speak to your Personal Trader on 020 7898 0541 to find out more.
