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UK, US growth data give steer on Brexit, Fed

Sunday, October 23, 2016 - 01:30

Third-quarter growth figures from the United States and Britain will be scrutinised by financial markets this week, along with a raft of key earnings reports from tech companies and banks. Hayley Platt reports.

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TV AND WEB RESTRICTIONS~****~ Data from both sides of the pond are in focus. Markets will be closely scrutinising third quarter growth figures. And Britain's Prime Minister Theresa May's leaning towards a 'hard Brexit' could rekindle fears for the economy. The US still suffering from stubbornly weak inflation which has so far prevented it raising interest rates. (SOUNDBITE) (English) CMC MARKETS ANALYST, JASPER LAWLER, SAYING: "It will be very interesting to see third quarter UK GDP estimates, there's also US GDP estimates which will obviously play an important role as to whether the Fed infact does decide to hike interest rates again in December." A Reuters poll gives a 70 percent chance it will. But only IF the world's largest economy fails to grow the expected 2.6 percent. (SCROLLING GRAPHIC) And earnings season kicks off in earnest. Amoungst them Airbus, Peugeot Citreon, Volkswagen and some of the big UK banks. (SOUNDBITE) (English) CMC MARKETS ANALYST, JASPER LAWLER, SAYING: "They will be very much a focus given the difficulty the banking industry is facing with low interest rates and the troubles at Deutsche Bank and its potential fine with the US Department of Justice. And there's some big tech company earnings in the US." Apple are expected to report yet another fall in sales on Tuesday, hurt by stagnating demand for its iPhone 6S and 6S Plus. It should be better news for Amazon when it reports on Thursday. Analyst's predicting its sixth straight quarterly rise in profits. ////

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UK, US growth data give steer on Brexit, Fed

Sunday, October 23, 2016 - 01:30