Wahed Invest | January UK Market Commentary

After a very challenging end to 2018, January saw a strong relief rally in markets, as major equity indices rallied high single digits globally, despite a relatively mixed economic backdrop.

In the U.K., Brexit continues to dominate local political and economic debates. With around two months to go until the deadline for the U.K. to leave the European Union, there is little clarity around what the roadmap looks like, particularly in light of PM Theresa May’s recent plan being voted down in Parliament. 

Notably, markets seemed to ignore the partial U.S. government shutdown that was in effect for much of January and instead focused on a more cautious tone from the Federal Reserve, as it related to additional interest rate hikes in 2019, which sparked the rally in risk markets and eased market concerns around a more aggressive path to rate hikes.

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Author: The Muslim Wealth Portal

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