Forex Signals – Pound May Drop
FXPremiere Forex Signals – Pound May Drop UK Court Prolongs Brexit seen today by;
Global – FxPremiere Group Talking Points:
- British Pound pressured as UK Supreme Court Brexit ruling continues as the timeline continues extending.
- Judiciary may prolong Brexit timeline, making UK Sterling drop.
- Eurozone PMIs unlikely to trigger response for Euro.
- The UK Supreme Court decision on the degree of Parliament involvement in Brexit is in focus in EU trading hours.
- Prime Minister Theresa May has already said that she will seek votes of the legislature before moving forward.
Still, the judiciary can significantly complicate matters, prolonging the process well beyond Mrs May’s desire to invoke Article 50 of the Lisbon Treaty by the end of March. That would increase overall uncertainty surrounding EU/UK. divorce proceedings, which may weigh on the British Pound.
FxPremiere Forex Signals – Pound May Drop UK Court Prolongs Brexit UK unit was already on the defensive ahead of the Court’s ruling, otherwise overnight trading continues with Price action was otherwise muted.
The preliminary set of Jan 2017 Eurozone PMI figures likewise moving. The Composite worldwide measure are expected to show that the pace of manufacturing and service sector growth has up continuously every month. making the strongest performance in over several years. Forex Signals – Pound May Drop UK Court Prolongs Brexit
Euro area economic news flow has improved forecasts over months, with the case for an upbeat outcome. Forex Signals – Pound May Drop UK Court Prolongs Brexit.
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Recent Stories include :-
FX Markets | UK Supreme Court Results
01/24 Tuesday | 09:33 GMT | GBP UK Supreme Court Rules on Brexit Hearing today.
The Supreme Court will deliver answers on the application of Miller and Dos Santos vs. the Secretary of State for exiting the European Union. at 09:33 GMT. If, as expected, the Justice’s rule vs the gov and state that they must get the approval of MP’s. and peers before triggering article : 50, a bill is likely to be seen via Parliament to comply with the UK Court’s ruling; Prime Minister Ms Theresa May previously stated that she wants to begin talks exiting the EU by the end of March 2017 . Last week, her speech outlining the governments approach to Brexit, with strong indications that the government was aware of the court’s impending decision. Forex Signals – Pound May Drop.
01/25 Wednesday | 21:47 GMT | NZD Consumer Prices Index (Q4)
Other countries around the world, NZ is expected to show a higher move in year-end with inflation figures. Thanks to base effect provided by lower oil prices at this time last year in 2016. Q4 2016 New Zealand CPI figure to come in at +1.1% year on year, which would be the first time that CPI ended within the RBNZ’s band in two years. Forex Signals – Pound May Drop.
Live Pairs to Watch by FXPremiere Group : AUD/NZD, NZD/USD
01/26 Thursday | 09:31 GMT | GBP Gross Domestic Product (Q4)
This is the first look at a quarter 4 of GDP growth since the UK decided to leave the EU in June 2016, the economy grew by 0.7% on the quarter and 2.2% on the year, although a slightly better reading. UK economy grew at a better rate post Brexit. The IMF recently upgraded its forecasts for UK economic growth in 2017 from +1.1% to +1.7%.
FX Pairs to Watch by FXPremiere Group : EUR/GBP, GBP/USD
01/26 Thursday | 23:37 GMT | JPY National Consumer Price Index – Forex Signals – Pound May Drop.
Policymakers in Japan continue to struggle with the effects, as incoming price data aren’t expected to show any signs of improvement.
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