Most Brits voted to leave the European Union, so at some point that’s what the government will do. Simple, right? Perhaps not.
Next month’s “advance” GDP report for the US in the second quarter is widely projected to show that economic activity will rebound from Q1’s sluggish 0.8% gain (which is expected to be revised up to 1.0% in today’s revision, according to Econoday.com’s consensus forecast). But a higher level of macro uncertainty is clouding the outlook after last week’s UK vote to leave the European Union. The US may be relatively insulated from the economic effects, but not entirely, according to a new Goldman Sachs forecast. The bank trimmed its outlook for US GDP growth in this year’s second half to 2% from 2.25% previously, Reuters reports.
Stock futures pointed to a higher opening for Canada’s main stock index for the second day on Wednesday as the shock from Britain’s vote to leave the European Union petered out and oil prices rose as risk appetite increased.
Next Trading Day’s Important Events
- USDJPY: 102.76
- EURUSD: 1.1097
- S&P 500: 2,036.09
- NASDAQ : 4,691.87