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GBP/USD Daily Forecast – 10 October

Monday, Oct 09 2017
GBP/USD Daily Forecast – 10 October

There were no data releases from the UK yesterday, with focus on Brexit negotiations and process. Prime Minister Theresa May told business leaders that they should treat a two-year transition period after Brexit as assured as she tries to ease company concerns that Britain could crash out of the EU without a deal, a source told Reuters. May met business chiefs from GlaxoSmithKline (GSK.L), Vodafone (VOD.L) and HSBC (HSBA.L) and other major companies on Monday to hear what they want from talks on Britain’s relationship with the EU after Brexit.

 

Businesses have become increasingly alarmed by the slow progress of negotiations and the prospect that the country could leave the trading bloc without a new trading arrangement in place in 2019. “From her point of view, the transitional agreement is non-negotiable ... business should think of the two-year period as assured. It will happen,” the source said when asked what May had said during discussions on Monday.

 

Focus of tomorrow's session will be on UK Industrial Production figures. Analysts predict increase by 0.2%. There will be no major data releases in the US part of the session.

 

Figures to watch:

 

Industrial Production (Tuesday 10:30)

Last modified on Tuesday, 10 October 2017
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