OctaFX | OctaFX Forex Broker
Open trading account
Back

UK: Positive developments - Westpac

Analysts at Westpac suggest that while the market view this week’s developments in the UK economy as a positive (given their view that they raise the chance of a soft-Brexit or no-Brexit outcome), the reality is that the harshest possible outcome (a no-deal Brexit) is the default result.

Key Quotes

“Reports also suggest PM May is against a softer-Brexit – where the UK stays in the customs union permanently. Negotiations between PM May’s Conservatives and the other parties have begun in pursuit of a compromise, but given PM May’s strident position and Labour leader Jeremy Corbyn’s unwillingness to take part as long as a no-deal Brexit remains a possibility, a near-term deal seems highly unlikely.”

“European officials are willing to allow an extension of the negotiating period past 29 March, but at this juncture it is not clear this will be productive either. Uncertainty over the UK outlook therefore looks set to remain rife into mid-year, causing the UK economy further material harm.”

Central banks to stay on hold in 2019 - ING

Analysts at ING expect that most Asian central banks will leave policies on hold this year, if not ease as a weak end to one year makes it arithmetica
Read more Previous

GBP/USD set for a challenge of 1.3000 with lagging Retail Sales set to challenge buyers

GBP/USD is trading just south of the major 1.3000 handle as Pound sentiment improves heading into the week's end, with the Cable floating near 1.2980
Read more Next
Start livechat