Is the effect of Brexit having an effect on U.K. Growth? – Opinion

Meir Velenski

The effect of Brexit has been the main concern across the U.K. And foreign markets. If this number and others continue to show a slowing pace Or negative numbers then the pound and the FTSE will be hammered says Meir Velenski

The UK first quarter GDP slowed showing a drop from 0.7% to just 0.3%.

What does this mean for the economic outlook?

The data coming through is much weaker then expected and this follows on from the Us ISM manufacturing index also slowing to 54.8 from 57.2.

Just a reminder that this number has been rising over the last 18 months and has shown steady growth.

If this slowdown continues then it maybe one of the signs that the economy is slowing and cannot keep pace with the recent growth.

The effect of Brexit has been the main concern across the U.K. And foreign markets. If this number and others continue to show a slowing pace Or negative numbers then the pound and the FTSE will be hammered.

In addition , the costs of raw materials and imports into the UK have sharply risen and and this is being fed through to the inflation component .
This can also be seen in inflation numbers in the Eurozone which has seen inflation jump.


With elections now in the UK, France and other countries in Europe approaching no one is really clear how to angle their portfolios on a retail basis or institutions to mange their books on a corporate basis.

The elections on all fronts though give everyone an opportunity to realign their thinking and look forward to the next 4-5 years of stability assuming significant victories for the center parties

Overall, the UK elections and the French elections will be the most watched and will give us guidance as to how to manage expectations .

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”