World Bank labels 2016 the weakest year since the recession

According to the World Bank, a tentative pickup in the global economy this year is at risk from the political uncertainty unleashed by Brexit and the arrival of Donald Trump in the White House. They stated that 2016 has been the weakest year for the global economy since the deep recession of 2008-2009. With global growth failing to meet its forecast every year since 2011, another sluggish start to 2017 could be bleak for the global economy, and especially here in the UK.

Dollar gives Sterling a helping hand

Tuesday was a steady day for Sterling, despite a fairly poor start to the week whilst investors deciphered the comments made by Prime Minister Theresa May over the weekend. The pound sprang to life in the afternoon, helped by some USD weakness, and made slight moves on most of its major counterparts.

Data to come

Sterling will be watched today, with the UK Manufacturing/Industrial Production data release, but the event most likely to create some volatility, is likely to be Donald Trump’s News Conference due late in the European session. Traders will be looking for clues as to whether he will be prepared to deliver his election promises and push for his expansive fiscal policy after inauguration on 20 January.

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