Sterling struggles after US Presidential debate
- JPY Current Account
- AUD NAB Business Confidence
The markets continued to digest Sunday night’s debate, where Trump attempted to defend the lewd tape of him bragging about assaulting women 11 years ago. Markets are calling this debate a draw, whilst the Mexican Peso (which has been seen as a barometer of fears surrounding a Trump presidency) remained relatively stable throughout the debate, although the Peso has gained 2% since the release of the tapes. Despite a relatively strong performance in the debate, Trump has had a monumentally bad weekend and with the next debate just over a week away, it will be tough for the Republican candidate to get himself back in the race. This week, the markets will continue to analyse the US Presidential race, together with the continued ebb and flow of the US interest rate story.
The British Pound remained weak yesterday, with GBP/USD continuing to trade at levels last seen 31 years ago. The flash crash debate is still dominating newswires, with many retailers in the UK calling on the government to do more to protect consumers from the rising prices, saying the falling currency is “compounding economic headwinds”.
- EUR German ZEW Economic Sentiment
- EUR ZEW Economic Sentiment
- GBP MPC Member Saunders Speaks
The powerhouse of the Eurozone Germany; will release its ZEW Economic Sentiment this morning, where confidence in investors is anticipated to show an increase of 4.2. This is a significant improvement from the previous 0.5 reading. The other risk event scheduled today is in the UK, where MPC member Michael Saunders speaks before the Treasury Committee in London.