The Pound is keeping balance. Overview for 29.10.2019

On Tuesday, GBPUSD is waiting for new information on Brexit; market players are in no hurry to get back to buying.

The British Pound is consolidating against the USD on Tuesday afternoon. Investors are in no hurry to make any quick movements until there is no new information on Brexit. The current quote for the instrument is 1.2847. 

Yesterday, it became known that the European Union agreed to extend the Brexit deadline until January 31st, 2020. So, the British Parliament doesn’t have to be in a rush to ratify the agreement between parties. However, according to the extension, the United Kingdom may exit the alliance at any moment prior to January 31st, as soon as the parties are ready. 

It’s good news because the ratification process of those agreements reached by Prime Minister Boris Johnson and Brussels won’t be hasty and speedy. And that’s a good thing: who knows what else may scare British lords and how they may react to tight deadlines.

The statistics published yesterday showed that the CBI Realized Sales in the UK improved in October and was -10 points after being -16 points the month before and against the expected reading of -20 points. Growth of the indicator may show that the Retail Sales sector is reaching stability, which is quite good for the British economy.