German business confidence slumps
Published: Thursday 25 August 2016
This morning showed increased Eurozone macro data post-Brexit with the release of the German’s IFO figures. Business sentiment fell to 106.2, highlighting a possible loss in confidence off the back of Brexit. Despite Brexit, the UK displayed strong CBI sales figures which are an indication of sales activity across trades through surveying; whilst it generally doesn’t have a great deal of impact the figure was far better than expected.
The main event of the week begins this evening in the form of the annual Jackson Hole symposium.
A great deal of publicity surrounds the symposium with the title for the symposium being “Designing Resilient Monetary Policy Frameworks for the Future”. The event will be scrutinised by traders and economists alike for the rhetoric and tone of Yellen’s projects. The market is currently pricing in a rate hike around March time next year although any mention of anything earlier expect to see volatility.
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