Can’t Get Away From The Fed’s Balance Sheet
Several of the Fed’s cross-currents will be front and centre as the minutes to the last FOMC emerge (Wednesday). Fed talk during the recent week has softened as the data highlighted the growing threat to the US economy, not just from an international perspective but also domestically.
The GBP Week - Bias is Neutral
BREXIT, of course, will be uppermost in investors’ minds and though GBP/USD looks to be in relative mid-range right now the downside looks most vulnerable given the current state of play.
Turkey’s Economic Miracle Puts Lira Stability at Risk
There is a risk that once again the Turkish Lira will become vulnerable to a deterioration in external sentiment, especially as there remains the overhanging geo-political risk of US sanctions, whilst increased tension between Iran and Saudi Arabia could drive up oil prices, adding fuel to a potential deterioration in the current account and inflation.
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