Pound and Euro Down on Brexit Concerns - Adviser Investments

Pound and Euro Down on Brexit Concerns

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Friday, November 23. Major U.S. stock indexes and oil declined today, with crude oil down nearly 5% in mid-day trading to its lowest price since October 2017. Meanwhile, European markets continued to react to Brexit-related issues: The pound and euro fell around 0.8% and 0.9%, respectively, and STOXX Europe 600 closed the day up 0.4% yet still lost more than 1% on the week. Next week, several significant economic reports will be released: Housing prices, new home sales, Q3 GDP revision, FOMC minutes, personal income/spending/savings and consumer confidence.

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