Analysts at TD Securities explained the key events coming up for the euro and sterling.
Key Quotes:
“EUR: For data today we have the August flash PMIs. We think there’s scope for a further pullback in the French services PMI as last month’s World Cup-induced boost dissipates; we look for a small decline from 54.9 to 54.7 (mkt 55.0). For Germany we look for more upside though, as sentiment on trade improves after the Trump-Juncker deal was struck; we look for the manufacturing PMI to rise from 56.9 to 57.2 (mkt 56.5). Later today we also get the minutes from the July ECB meeting. Given that the meeting was a very quiet one, and basically just a summer placeholder, we don’t expect much market reaction.
GBP: The UK government releases its first batch of “no deal” Brexit papers, which aim to give an overview of the domestic regulatory framework should the UK crash out of the EU in March 2019 without a deal. There are 84 papers in total, with batches released over the next few weeks.”
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