This morning with little data today the focus was still on the drop in Sterling with renewed lows less than $1.39. HSBC stated that Sterling could lose up to 15% of its value and that the UK economic growth could be up to 1.5% lower next year if we vote to leave the European Union in June. They also stated that a vote for Brexit would have potentially huge consequences for all asset classes.
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Following a vote to leave HSBC think that uncertainty could control the UK economy, causing a potential slowdown in growth and a collapse in Sterling. The focus this afternoon turn to US where new house sales is expected to come in at 522k and crude oil inventories at 3:30GMT, expected at 2.0M.
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