The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
British businesses don’t believe in no-deal Brexit
The vast majority of UK businesses as well as individuals aren’t ready for a no-deal Brexit due to the fact that they don’t find it probable. That’s what the UK cabinet uncovered in a long-awaited analysis on Tuesday. However, the given attitude could back the disruption if it occurs, the government added.
In London, lawmakers are expected to approve a deal, which would soften the UK’s departure from the word’s number one trading bloc due on March 29. The likelihood of a disorderly departure is still real.
On Tuesday, British Prime Minister Theresa May suggested that next month UK lawmakers would vote in favor of a delay.
Notwithstanding communications from the UK cabinet, there’s still little evidence that British companies are preparing for a no-deal scenario, and evidence ascertains that readiness of medium-sized and small businesses is quite low.
The short time before March 29 wouldn’t enable the UK cabinet to compensate for the outcomes of an undesirable no-deal Brexit.
One-in-for – that’s the likelihood of a no-deal Brexit from financial analysts’ point of view.
In November, Britain’s main financial institution disclosed a worst-case no-deal Brexit scenario, which revealed that the United Kingdom might suffer an even bigger economic hit than during the global financial downtime a decade ago.
Besides this, Tuesday's paper paid attention to the risks to particular industries, regions and individuals from a no-deal Brexit. Eventually, Northern Ireland would be affected harder and also for longer period than the rest of Great Britain on the condition the agreement is finally made.
By the way, other financial analysts stressed that their analysis resulted in rather a downbeat picture for the country’s businesses.
The last week was so eventful for traders: FOMC Meeting, Bank of England’s rate decision, the OPEC+ meeting, and also NFP. This week is going to be interesting as well! Let’s see what you should focus on.
Euro Zone will reveal the ZEW Economic Sentiment index at 12:00 MT (GMT+2) on Tuesday, November 9.
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).