Something went wrong or rather everything went wrong. Instead of growing, the single European currency and the pound continued to lose ground with a vengeance and as always, the same characters are to blame for this. With persistence and worthy of better use, they cut the bough on which they themselves sit. The parade of inconsistencies began in the European Commission. The press service of which said that there would be no more delays in Brexit like they did not want to give the last postponement. But for a certain group of heads of state, members of the European Union, they made that incomprehensible decision. And so, the alleged office of Jean-Claude Juncker categorically against any concessions and the like. It is necessary to firmly defend the interests of Germany at the expense of the interests of Great Britain. So no more for everything. But now, politicians on the other side of the Channel are clearly not enough and representatives of the Conservative Party in the House of Commons, who are headed by Iron Lady 2.0. First, they stated that they needed to prepare for elections to the European Parliament and even put forward their candidates for this exciting competition.
In short, the Conservatives themselves are trying to postpone Brexit indefinitely. Apparently, intending to torture Her Majesty's subjects so much that they all demand for the cancellation of the referendum results in unison. They say that you have got us so much that it doesn't matter for all this democracy and let it be as you wish, although this does not correspond to our choice made during the referendum. However, this was not enough for the conservatives and they asked Theresa May to give her the date of her resignation. Everybody was stunned by such a thing and even Jeremy Corbin now doesn't understand at all what to negotiate with the Prime Minister. Thus, it feels like in the Old World they forgot to stock up after a stormy celebration of Easter but if all of these were not enough and data on sales of new homes in the United States did not decline by 2.5% and increased by 4.5% instead.
Today, the disposition from the heads of Europeans should already have dismissed, especially because of the single European currency and the pound. It is clearly time to somewhat adjust after such impressive falls. Therefore, let's hope that sober European politicians will guess at least a day just to keep silent. In turn, no macroeconomic data will come out in the United States and investors will only be attracted on the data on the net borrowings of the UK public sector, which could drop another 0.4 billion pounds. Thus, reducing the debt burden of the United Kingdom may contribute to the long-awaited correction.
The single European currency can only follow the pound. Given the serious overbought of the dollar, we can expect growth to 1.1250.
The pound against the background of reducing the debt burden of the state, as well as substantial oversold, may well rise to 1.2975.
The material has been provided by InstaForex Company - www.instaforex.com