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The first half of 2016 closed off in uncharacteristically volatile fashion due to that surprise Brexit vote in the UK. This certainly hasn’t been limited to equity markets either – obviously the GBP has been hit with additional pressure now evident given the Bank of England’s intention to apply some economic stimulus to the UK economy this summer.
H2 is likely to provide similar conditions also as we glean more details about how the UK and Europe are to move forward from here. Expect continued GBP and EUR weakness, relative USD strength (It’d be mad to predict a Fed rate cut, but stranger things have happened) and Brexit contagion to test the resilience and cohesion of the remaining 27 EU member states. Considerable political turbulence should be expected in the UK as Remainers try to find legal loopholes enabling us to not leave the EU, while Leavers fight over who will lead negotiations.
UK Economic Announcements
09:30 PMI Construction
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UK Economic Announcements
00:10 BRC Shop Price Index
Intl Economic Announcements
10:00 Retail Sales (EU)
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Intl Economic Announcements
07:00 Factory Orders (GER)
13:30 Balance of Trade (US)
15:00 ISM Non-Manufacturing (US)
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UK Economic Announcements
08:30 Halifax House Price Index
09:30 Industrial / Manufacturing Production
Int. Economic Announcements
07:00 Industrial Production (GER)
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UK Economic Announcements
09:30 Balance of Trade
Int. Economic Announcements
07:00 Balance of Trade (GER)
13:30 Non-Farm Payrolls, Unemployment Rate (US)
20:00 Consumer Credit (US)
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