Market Insight

The latest analysis of popular markets from our team of industry experts.

CFD trading is high risk and may not be suitable for everyone.
GBP at risk as Autumn Statement in focus

What events will you be basing your trading strategy on next week? Well, here’s a quick wrap up of the top economic calendar events for November 21st to 25th.

Wednesday 23rd is the main day in focus next week and will be an interesting day particularly for the US dollar and the pound.

Fed action in December is now seen as almost granted and the November FOMC minutes, due on Wednesday, should only reinforce the Fed hawk’s camp. How many rate hikes should be expected in 2017? As of today, LCG Senior Analyst Ipek Ozkardeskaya believes 2 to 4 rate hikes would be reasonable.

Before the FOMC minutes take centre stage, the UK Autumn Statement on Wednesday will be closely watched by traders, due to its likely influence on the pound and UK stocks.

The new chancellor will reveal his first macroeconomic forecasts, and will need to take into account the Brexit impacts on the growth and public finances. This could be read as a renewed downside risks for the pound and the most Brexit sensitive UK stocks, such as the banking and real estate sectors.

Following Wednesday’s statement, the UK will release the second estimate of the third-quarter GDP data on Friday morning GMT.

Finally, Japanese inflation figures will hit the wires on Thursday 24th, leaving USDPY in focus.