(04 September 2019) DAILY MARKET BRIEF 1:Expect Anti No-Brexit Vote Today

Forecasting Brexit has gone from hard-to-impossible. The fluid, politically charged situation means scenarios changes with the news cycle. Times like this we would just like some popcorn to watch the action from the sidelines. It looks like the UK is heading for another useless extension. One thing is for sure, for the UK’s economic outlook, extra uncertainty will further damage economic growth and investor appetite. Tuesdays, construction PMI data which fell to 45 against 46.5 expected, highlighted the harm prolonged ambiguity is having on activity. Today, services PMI dropped to 50.6 in August, from 51.4 in July. Fall in service PMI indicates that the critical services sector of the economy is just holding on.