Friday ended with the Pound losing its gains from earlier in the week. Sterling declined after the UK Services PMI reading fell into contraction territory, with a disappointing reading of 47.4 compared to June which registered at 52.3.
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24/ 07/ 2016
The week ahead | Markets focus on German data
22/ 07/ 2016
Markets focus on Draghi
UK Retail Sales disappointed yesterday morning, dropping further than expected to 0.9%, its biggest fall in six months. Whilst the majority of the data in the report covered the period before the referendum, the UK Office for National Statistics said it had not received evidence of a Brexit effect. Economists’ are forecasting that the UK will tip into recession for the first time since 2009.
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