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Autumn Budget – Expect volatility on the market (Daniel Johnson)

Tuesday, November 22, 2016 10:23
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(Before It's News)

The Autumn Statement

Tomorrow the Chancellor, Philip Hammond will deliver the autumn Budget. He will outline spending and taxes post-Brexit vote. We will also see forecasts relating to unemployment, growth and inflation. This will give an indication as to policy moving forward.

Inflation will be particularly interesting as the fall in Sterling has caused import prices to rocket which will soon hit the consumer. This is not good news for the UK economy as wage growth will not keep up. Some economists are predicting we could be as high as 2.7% by the end of Q1.

George Osbourne’s pledge to balance the books by the end of his tenure has been scuppered by the referendum vote and the government face a black hole of around £25bn. I would expect there to be a rise in borrowing of £5bn upwards.

Expect  drop in growth forecasts and the pound to be hit due to this. If you have currency requirement involving selling Sterling it may be wise to take advantage of current highs.

If you have a currency requirement I would be happy to assist. If you wold like no obligation help, feel free to contact me personally at dcj@currencies.co.uk. I can provide you with an individual trading strategy if you provide me with the currency pair you are trading, your time scale and a ball park figure of the size of your trade. I work for Foreign Currency Direct PLC, one of the top brokerages in the Country and it enables us to provide the most competitive rates of exchange. We are registered with the FCA and have been in business for over 16yrs giving clients peace of mind when dealing with their transfers.  Thank you for reading my blog and I look forward to helping you with your currency requirements.

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  • Thank you for this valuable information! I consider Forex trading to be a great opportunity. To minimize my risk of losing money, I’ve been cooperating with the forex brokers from http://www.portexmarkets.com/ as they have provided a great service.

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