31 Dec 2015

Countdown to 2016 Starts

The Pound – US Dollar currency pair looks set to remain above the 1.48 mark on a fairly subdued note ahead of the New Year break and given the absence of any UK economic news. Today’s only data will come from across the Atlantic in the form of weekly jobless claims and the Chicago PMI index due for release in a few hours. As the New Year arrives, the Bank of England (BoE) will continue to remain in a challenging position as any further slowing in global growth could well diminish what little appetite there might be for a rate rise. Meanwhile, both the US Federal Reserve and the European Central Bank (ECB) appears ready to embark on their decisions regarding their respective monetary policy outlook in 2016.