ALREADY IN AN HOUR: UK PMI
Dear traders,
Already in an hour, at 11:30 (Kiyv), a report on the leading services sector of the UK will be published. According to forecasts, the PMI index will slightly increase to 53.3 after the value of the previous month 53.0.
The pace of growth in the UK economy lags behind the global pace of economic recovery. However, the British economy managed to avoid the worst scenario, which was predicted after the vote in 2016
Last month, the Bank of England voted to keep the interest rate at the same level, but made a statement about the possibility of a more rapid increase in the interest rate and on a larger scale than was predicted a few months ago. Acceleration of the interest rate increase is associated with the need to curb inflation.
Politics will be also in focus in Europe, especially the negotiations on Brexit, which entered a crucial phase. On Friday, British Prime Minister Theresa May called on the European Union to show greater flexibility in negotiations on future relations with Britain. May said that her country is ready for the unpleasant consequences of Brexit, but this does not mean the impossibility of concluding a successful trade agreement.
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Good luck!
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