Partner Center Find a Broker

Another week, another chance to tune in to the Brexit drama?

With no top-tier report scheduled from the U.K., investors will eye any and all headlines related to Brexit negotiations.

Check out the points you need to know if you’re trading the pound this week!

Brexit-related talks

  • The pressure is on the EU and U.K.’s teams to sign a deal before November to allow EU parliaments to approve of the details before the transition period ends on December 31
  • Current sticking points include the EU’s access to the U.K.’s fishing waters and state aid to industries
  • A Financial Times report over the weekend talked of the British government planning new legislation that would override parts of the withdrawal agreement signed in January
  • Johnson is expected to set October 15 as a “firm” deadline for a deal. Otherwise, the PM has threatened to “move on” as he believes that a no-deal situation is still a “good outcome.”

Closely watched economic releases

  • Halifax house price index (Sept 7, 7:30 am GMT) to improve from 3.8% to 4.2% in August
  • BRC retail sales monitor (Sept 7, 11:01 pm GMT) to gain by another 3.5% in August?
  • NIESR GDP estimate (Sept 10, Asian session) to print at 6.0% after 7.9% decline in July
  • Monthly GDP (Sept 11, 6:00 am GMT) seen at 6.3% after 8.7% growth in June
  • Industrial production (Sept 11, 6:00 am GMT) expected at 4.0% after 9.3% growth in June
  • Manufacturing production (Sept 11, 6:00 am GMT) seen improving from -14.6% to -10.8%

Technical snapshot

  • Stochastic considers GBP/NZDz as “oversold” on the daily time frame
  • GBP may soon hit the “overbought” region
  • GBP/CAD and GBP/USD are on neutral territory
GBP Forex Pairs Stochastic from MarketMilk
GBP Forex Pairs Stochastic from MarketMilk
  • EMAs reflect the pound’s short-term bearish pressure across the board
  • GBP/NZD and GBP/AUD are on short and long-term downtrends
GBP Forex Pairs EMAs from MarketMilk
GBP Forex Pairs EMAs from MarketMilk
  • GBP saw the most volatility against the safe havens the Loonie in the last seven days
GBP Forex Pairs Volatility from MarketMilk
GBP Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read GBP’s price recap for Aug. 31 – Sept. 4!