No lover for the British pound this week as a combination of weak PMI updates, dovish commentary from Carney and no-deal Brexit talk beats Sterling bulls down.
United Kingdom Headlines and Economic data
Monday:
- Manufacturing downturn deepens as UK PMI falls to lowest level since February 2013
- Annual growth in consumer credit continued to slow, falling to 5.6% in May
- UK’s Johnson says impact of no-deal Brexit would be very, very small
- Hammond warns PM contenders over post-Brexit spending promises
- No-deal Brexit: Britain heads towards the cliff after Bercow blocks plan to prevent chaotic exit
Tuesday:
- UK house price growth remained subdued in June
- UK Construction output falls at the steepest rate since April 2009
- Trade wars could shipwreck global economy, warns Mark Carney – this is likely the catalyst that sent Sterling lower against the majors during the U.S. session as it increases the odds we’ll see stimulative monetary policy actions from the Bank of England.
Wednesday:
- London markets advance as Carney signals supportive policy
- May to warn successors that no-deal Brexit threatens UK’s future
- UK Shop prices fell for the first time since October 2018
- UK economy shrinks as Brexit, global worries mount: PMI
- Brexit Withdrawal Agreement will stand as it is, says German ambassador
Friday:
