This week we would like to bring your attention to the Brexit vote taking place on 11th December, which is critical for the future of the UK, the economy, and the Pound Sterling.
The UK House of Commons has begun its lengthy debate on the Brexit agreement that Prime Minister Theresa May reached with the European Union. The discussions will culminate in a vote scheduled for Tuesday, 11th December at approximately 19:00 GMT (21:00 GMT+2 server time). The exact hour is unknown.
The vote has significant implications for the UK economy, and also on some euro-zone countries. Very high volatility is expected in the Pound, and considerable action is also warranted in the Euro.
More potential volatility events for this week:
Tuesday, 11th December
- 11:30: GBP — Avg Wk Earnings 3M YY
- 11:30: GBP — Claimant Count Unem Chng
- 11:30: GBP — ILO Unemployment Rate
- 21:00 (approx.): GBP — Parliament Brexit vote
Wednesday, 12th December
Thursday, 13th December
- 09:00: EUR — German CPI Final
- 10:30: CHF — 3M Target LIBOR Rate
- 14:45: EUR — ECB Deposit Rate
- 14:45: EUR — ECB Refinancing Rate
All times are Server Time (GMT+2).
Clients should understand that we are not suggesting price movements will go in a particular direction, nor do we encourage you to trade the volatility. We are simply giving you an advanced warning of significant price movements so you can adjust your trades to mitigate the volatility.
IMPORTANT! We remind you that liquidity tends to get thinner, and spreads tend to widen during economic news. We strongly advise you to exercise caution when trading during these specific dates.
Should you have any questions, please do not hesitate to
Contact Us.
