UK services PMI and EU negotiations in focus – Lloyds Bank

FXStreet (Delhi) – Research Team at Lloyds Bank, suggests that the UK January Services PMI survey will provide a guide to the strength of activity at the start of the year.

Key Quotes

“Despite the rise in financial market volatility, the market consensus is for a broadly steady reading (it was 55.5 in December), which would suggest that the economy continued to expand at a pace close to ‘trend’.

Negotiations between the UK and the EU remain in focus. Yesterday, EU Council President Donald Tusk circulated a ‘new settlement’ for the UK. Agreement at the next EU Summit on 18-19 February could pave the way for the referendum on EU membership to take place as soon as June. European Commission President Jean-Claude Juncker is due to speak at the European Parliament this morning and UK Prime Minister’s Questions take place at midday.”