The economic sentiment for the UK remains negative with Thursday’s GDP estimates for Q3 due tomorrow. Will the weaker Pound help bolster the result or will provide indications for lower consumer spending?
This week we are expecting a number of data releases for the US including Consumer Confidence data, August’s PMI and Trade Balance Data, as well as Durable Goods Orders and Initial Jobless Claims figures.
The GBP/EUR exchange rate dropped by a cent following the European Central Bank’s announcement that interest rates would be held. The Pound recovered ground against the Euro to reach 1.12 following Philip Hammond’s suggestion that the UK would negotiate access to the single market.