Weekly Outlook: 2014, September 21 - September 28
G20 Meetings, Mario Draghi’s speech, German Ifo Business Climate, US New Home Sales, US Durable Goods Orders, US Unemployment Claims are the main highlights this week. Here is an outlook on the major events coming our way.
Last week Scotland voted NO on independence from the UK in the historic referendum. The NO campaign’s victory was more decisive than the opinion polls had suggested, leaving the 307-year union in place. UK’s Prime Minister David Cameron acknowledged the Scots’ demand to have more power in the UK legislation and form a new constitutional settlement for the entire UK. Markets reacted with relief, bank shares climbed sharply after the market opened. Sterling initially gained in reaction to the result, rising 0.3 % higher to $1.6442, but later fell back against the dollar. Will the UK economy speed up growth in the coming months?