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It’s gonna be another light week in terms of economic releases from the U.K. so the spotlight could return to Brexit negotiations.
Here’s what’s coming up:
Mid-tier U.K. data
- Construction PMI (July 6, 9:30 am GMT) to improve from 28.9 to 46.0
- Halifax HPI (July 7, 8:30 am GMT) to show 0.6% drop after earlier 0.2% dip
- RICS House Price Balance (July 9, 12:00 am GMT) to show 25% drop after earlier 32% slide
Brexit updates
- Negotiations remained deadlocked on regulations for businesses and the fishing industry
- EU and U.K. officials remain hopeful for a deadline before year-end but Barnier says “serious divergences remain”
- U.K. PM Johnson suggests “Australia-style” arrangement as an option
Technical snapshot
- Williams %R shows that most pairs are in the neutral zone, with the exception of GBP/NZD and GBP/AUD in the overbought region
- However, long-term trend strength analysis suggests that EUR/GBP is the most bullish of the bunch while the rest are in bearish territory.
