GBP/USD to remain rangebound with expectations firmly around a Conservative win - ING
|Previewing the potential impact of next week's macroeconomic events on the GBP/USD pair, "Next week’s calendar will lack market-moving data releases, which will leave GBP being solely driven by the expectations around the elections (that are now only 20 days away)," said ING analysts.
Key quotes
"In particular, we expect any market move to be triggered either by new opinion polls or pre-electoral promises. Latest surveys indicate that the Conservatives are cementing their lead over the Labour party: the seven-day average of poll numbers suggest Tories will be able to secure 43% of the preferences, the Labour party 29% and the Lib Dems 15%."
"In terms of the pre-election pledges, the recently-published Labour manifesto (e.g. tax hikes, nationalisation projects) has spurred fears about a negative impact on businesses if Jeremy Corbyn became the winner. Should the polls start to indicate a more balanced result, raising the chances of a Labour win, we could see some negative spill-over effect on the market. For now, with expectations firmly around a Conservative win, sterling is likely to remain rangebound."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.