Money flows before the start of European trading

28.11.2018 / 07:56

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After the good session in the US, the positive sentiment moved to Asia, where investors made new purchases. This impulse is spreading to Europe as well, with futures on major stock indices expected to open up.

Indicative opening prices of European indices:
UKX: 7,042 +7 points
DAX: 11,346 +17 points
CAC: 5,002 +7 points

Despite positive attitudes, moods still remain hesitant. The uncertainty surrounding Brexit weighs not only on the UK but on the whole of the EU, as a feature of free trade in the region, which may affect many companies that are important to the economy of the bloc. There has been speculation about new resignations, a new referendum and a hard Brexit, but the truth is that none of this will be certain until the time for the clinical meeting between the two countries in the December talks. For now, the only thing investors can do is to trade cautiously, and that means at best consolidation for the assets of the Old Continent.

Today, the trader's calendar is expected to have a busy session for UKX and pounds. The Bank of England and the UK government will pronounce on a number of Brexit scenarios. First, in the morning, the government is expected to publish its assessment. Topics related to how the different outcomes from Brexit will affect the economy will be addressed and a comparison will be made with the rest of the EU. Then, in the afternoon, the BoE will publish its assessment of the situation, and more precisely: focusing on interest rate bonding (as well as bank security) across the various Brexit scenarios. In addition, the Financial Conduct Authority will publish its study on the impact of Brexit.

Trader Aleksandar Kumanov

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Money flows before the start of European trading

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