26/09/16 - Boris Johnson calls for Swift Brexit


The pound came under further selling pressure on Friday after Foreign secretary  Boris Johnson hinted that the UK should trigger article 50 Early next year. Stating that "By the early part of next year, you will see an Article 50 letter which we will invoke and in that letter I am sure we will be setting out some parameters for how we propose to take this forward ". 

Johnson also believes that the UK could take less than the allocated two year window to negotiate its exit package.  "You invoke Article 50 in the early part of next year [and] you have two years to pull it off. I don't actually think you need to spend the full two years but let's see how we go."

Jeremy Corbyn has won a decisive victory in his second leadership contest, beating Owen Smith by a bigger margin than he had when he saw off three opponents in 2015 and thereby strengthening his grip on the party. Corbyn managed to claim 62% of the vote in a bitter leadership battle that has dragged on over several months.

After his victory he discussed the UK's impending divorce from the EU insisting that Britain's parliament must be kept fully informed about the government's strategy for leaving the European Union


Manufacturing activity in September grew at the slowest pace in three months as purchasing managers blamed weak new orders and the strong dollar, according to data released Friday. Soft new orders, lower domestic demand  and a renewed dip in export sales were the key reasons growth was subdued in September.  

Key Announcements

09:00 - EUR: German IFO Business Climate conditions forecast to increase to 106.3 from 106.2

16:05 - EUR: ECB President Mario Draghi Makes a Speech