25/11/16 - German Businesses Remain Optimistic

EUR

A survey released yesterday morning showed German business morale was unchanged in November suggesting company executives are still optimistic about the growth prospects for Europe's largest economy despite growing political uncertainties. 

The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of 7,000 firms was still the highest reading in 2-1/2 years.

Economists suggested companies were once again more than satisfied with their current business situation, but somewhat less optimistic regarding the coming months. "The German economy seems to be unfazed by the election of Donald Trump as U.S. president," One analyst added. 

 

GBP

In the headlines this morning was news of two former Prime Ministers, Sir John Major and Tony Blair giving their opinion on Brexit.

Major believes there is a “perfectly credible” case for a second referendum on Brexit and people who voted to remain should not be subject to the “tyranny of the majority”. The former Prime Minister said the views of Remain voters should be heard in the debate about how Britain will leave the European Union.

His comments come after his successor in Downing Street, Tony Blair, suggested the Brexit process could be halted and that people could change their minds.
 

Key Announcements

09:30 - GBP : Second GDP estimate is expected to remain at 0.5%