Thursday , 7 November 2024
Home Forex UK budget: Commerzbank analysts optimistic about long-term growth potential
Forex

UK budget: Commerzbank analysts optimistic about long-term growth potential

The UK budget is due later today, Wednesday, October 30, 2024.

Commerzbank analysts give a heads up for GBP gains:

  • if the budget combines austerity with hope of tackling long-term investment
  • “This should be positive for the pound as it would strengthen the U.K.’s long-term growth potential”
  • government faces a challenge in facilitating investment so that it ends years of underfunding in the public sector
  • Challenge is that the UK has spent more than it has earned in recent years, making the fiscal situation difficult

GBP has already tikced up in the day leading to the budget:

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

There is a deluge of European Central Bank speakers Thursday – Lane (3 spots!), Schnabel

Lane and Schnabel the most likely to spin out some market-relevant comments....

AUD and NZD continue to retrace yesterday’s losses

AUD and Kiwi$ were hit on the surge of USD strength on...

China October dollar denominated exports +12.7% y/y & imports -2.3%

The slide for imports is not encouraging. The export pipeline looks like...

China’s Xi Jinping congratulates Trump on election victory

China's Xi Jinping congratulates Trump on election victoryhopes that the two sides...