After a short pause, GBPUSD is back to growing; market players believe in the Brexit.
The British Pound is rising against the USD again after a two-day pause. The current quote for the instrument is 1.2661.
London and the European Union are coming to a head of the Brexit negotiations: the parties are running short of time for making a deal, but seem very determined to do it until the end of the month. This Thursday, October 17th, the EU is set to start its two-day summit and if there is no news relating to the Brexit by October 19th, the British Prime Minister is obliged by the law to ask for renewal of negotiations and extension of the deadline. However, this contradicts what Boris Johnson was saying during his ascendancy to the Prime Minister position.
Right now, the United Kingdom really needs no pauses in this process. If the deal with the European Union is signed this week, Johnson will require some time to rush all documents through the British parliament.
Later in the evening, the UK is scheduled to report on the labor market. For example, one should pay attention to the Average Earnings Index, which may add 4.0% 3m/y. Another report to be released is the Unemployment Rate, which is expected to remain unchanged at 3.8% and that’s quite good. And the final indicator, the Claimant Count Change, may show 21.3K in September after being 28.2K in the previous month.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.