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Cable’s drift & Latest Webinar’s trades – Video

Market Analysis

Cable’s drift & Latest Webinar’s trades –  Sterling posted a fresh eight-year low versus the euro during the pre-London session in Asia, and Cable a new eight-week low, at 1.2774. The under-performance of the pound comes after the solid flash August PMI data out of the Eurozone yesterday and ahead of today’s second estimate Q2 GDP release out of the UK, which is likely to confirm the preliminary figure of 0.3% q/q growth, which would be half the growth pace of the Eurozone. Brexit-related uncertainties and concerns, which is having a detrimental affect on business and investment decision making, along with declining real household incomes, have been crimping UK economic performance.

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Stuart Cowell

Senior Market Analyst

HotForex

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