The political uncertainty continues, with the Supreme court ruling against the government, saying the suspension of parliament was unlawful.
Parliament has duly been recalled, but with the Conservative party conference due to start this weekend, the situation remains incredibly unclear, with tensions running extremely high.
The Brexit deadline is just over a month away and there remains no clear way through the current impasse.
In the US, Trump being threatened with impeachment adds to the political turmoil, and has further weighed on market sentiment.
Whilst in the Eurozone, further weak data has added to the negative outlook, despite the efforts of the European Central Bank.
On the exchanges, sterling has come under further selling pressure following this week’s court ruling. The Euro also continues to weaken, hitting its lowest level against the dollar since May 2017.
GBP/USD has short-term support at 1.2250, with strong buying interest remaining at 1.2000. On the topside we remain capped by the pivotal 1.2550 level.
GBP/EUR failed to break 1.1400 and has weakened towards the interim support at 1.1200. Below here, there remains significant buying interest at 1.1000.
|30/9/19||UK GDP YoY||1.2%||1.2%|
|30/9/19||UK Mortgage Approvals||67.3k||66.4k|
|1/10/19||UK Markit PMI Manufacturing SA||47.4||47.2|
|2/10/19||UK Markit/CIPS Construction PMI||45.0||45.0|
|3/10/19||UK Markit/CIPS Services PMI||50.6||50.3|
|3/10/19||UK Markit/CIPS Composite PMI||50.2||50.0|
|4/10/19||US Nonfarm Payrolls||130k||140k|
|Indices||Previous Close||YTD % Change|
|DFM GENERAL INDEX||2798||+10.59%|
UK Benchmark Rates
|3 month||0.77075%||2 year||0.68%|
|6 month||0.85163%||3 year||0.66%|
|12 month||0.93163%||5 year||0.62%|
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