UK: Today’s big event is the Autumn Statement - SocGen

Kit Juckes, Research Analyst at Societe Generale, suggests that today’s big event is the UK Autumn Statement, but the resilience of the economy in the immediate aftermath of the referendum decreases the need for major fiscal stimulus and projections for future deficits have decreased the Chancellor’s enthusiasm.

Key Quotes

“Small measures including increases in infrastructure spending won’t have a significant impact on the FX market through the forecasts for the coming years could cause some ripples. Sterling’s had its short-covering rally and while it is still the only major currency to be stronger now than it was before Mr. Trump won the Presidential election, it might lose that crown today.”