Only a handful of medium-tier reports are due from the U.K. this week, which leaves pound traders to watch The Crown – I mean, Brexit-related updates – more closely.
Medium-tier U.K. data (starting Nov. 19)
- CBI industrial order expectations index to improve from -37 to -30 in Nov
- Order volumes still contracting but likely at a slower pace
- Gov’t public sector net borrowing to dip from 8.7B to 8.5B GBP in Oct
- Smaller deficit to signal that government spending probably decreased
Brexit-related events
- Focus is on opinion polls leading up to the Dec. 12 general elections
- Opinium Research: Conservatives stood at 44% compared with Labour’s 28%
- U.K. PM Johnson: All Conservative Party candidates pledged to back his Brexit deal
Technical Snapshot
- Long-term moving averages reveal that all pound pairs are in bullish territory
- However, stochastic shows that EUR/GBP is seeing oversold conditions while both GBP/AUD and GBP/CAD are already overbought
