FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, suggests that the UK data expected today are likely to shpw that economy has been firming and if firms have become more anxious in September, we see risks skewed to the downside.

Key Quotes

“Public Sector Net Borrowing will dive back into deficit in August, following the usual quarterly bump last month that led to its first July surplus position in three years. Consensus expects the PSNB ex-Banking deficit to rise to £9.2bn, from a £1.3bn surplus in July.”

“Fiscal year-to-date figures show that receipts from the corporate sector are up 9.5% compared to 2014, evidence that the underlying economy has been firming and that net borrowing is likely to decline over the course of the fiscal year.”

“September CBI manufacturing orders are expected to be flat after -1 in August. Investors were caught off guard by the jump in the August print (from -10 in July) suggesting that firms were largely ignoring market volatility that month.”

Prashant Newnaha, Rates Strategist at TD Securities, suggests that the UK data expected today are likely to shpw that economy has been firming and if firms have become more anxious in September, we see risks skewed to the downside.

(Market News Provided by FXstreet)

By FXOpen