EU strongly opposed to UK trade deal
|Last week saw significant gains for the Pound, after positive comments on an agreement being made from chief EU negotiator Michel Barnier. The gains only lasted 3 days and this just goes to show how hypersensitive this market is at the moment over any Brexit comments.
Yesterday Theresa May wrote in the Sunday Telegraph that she will 'not be pushed' into compromises on her Chequers agreement. The agreement has come under scrutiny by many in her own party, as well as Michel Barnier who recently commented the plan would 'end' the European project and that he is 'strongly opposed' to it.
Both the UK and Euro-Zone today published lackluster manufacturing growth, hitting two-year lows amid the US trade wars. This has also been a factor in Sterling's performance today. It's a pretty busy week ahead data-wise with plenty to watch out for, especially Carney's speech tomorrow and the inflation report due this Friday.
|Tuesday, 4th September, 2018|
09:30 UK - Markit construction
10:00 EU - Euro-Zone PPI
13:15 UK - Governor Carney speech
14:45 US - Markit PMI
15:00 US - ISM construction & manufacturing
09:30 UK - Markit PMI
10:00 EU - Euro-Zone Retail sales
12:00 US - Mortgage applications
15:30 US - Trade balance