Happy Holidays in advance!
One of the reasons for #SantaClausRally is the burst of special dividends and increased share buybacks that are frequently announced before the end of the year. Others believe that this risk rally takes place because the pessimists in the markets are taking their vacation.
Will you trade the Santa Claus Rally this year? Share your comments with us!
Why is this important?
The #pound has stayed reasonably firm while policy divergence has continued. The #UK data is relatively strong. In recent weeks the GBP has gained over two percent against the #EUR while losing some ground against the #USD. GDP expanded 0.6 percent in the third quarter and improvements in UK mortgage approvals and consumer confidence reports are expected. Thursday will surely be a busy day for GBP traders as we get important data and BoE governor Carney will speak. Investors will scrutinize his words as subtle hints regarding future monetary policy are often dropped during his speeches. The feeling here is that the pound will continue to strengthen against the EUR.
What does this affect?
When will this be released?
November 5th at 7:00am/7:45am EST
Visit our economic calendar for a list of fundamental events for this week. http://bit.ly/1Mdc86f
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