Increased chance of a delayed Brexit divorce



Hi everyone,

£ has barely moved since Thursday and it's consolidation has been expected as the market awaits news of a Brexit outcome. That news could come this Wednesday, where Parliament once again debate it's approach.

A proposal by Yvette Cooper has a real chance of passing, that allows MP's the power to seek an extension of Article 50 if no-deal is agreed by March 12th (the new Brexit deadline). If this happens, £ will strengthen as it effectively rules out a no-deal Brexit. European Commission President Jean-Claude Juncker today said 'none of the existing members will stand in the way if Britain asks for a delay to it's departure'. An opinion already echoed by many other members.

£-€ rates have a chance of improving with Euro-Zone data forecast to provide little confidence in the single currency. But the key data belongs to the US this week with important figures daily, as well as Trumps visit to Vietnam in the spotlight. FED Governor Powell has a busy schedule this week, speaking about the US economy and his speeches will be watched closely. 

Current levels remain favourable for £ sellers, but could be in a better position come Wednesday evening/Thursday morning. 




Upcoming Data


Tuesday, 26th February, 2019

07:00 UK - German consumer confidence
09:30 UK - Loans for house purchase
10:00 UK - Governor Carney speaks at parliament committee
13:30 US - Housing starts & building permits
14:00 US - House price index
15:00 US - Consumer confidence & Governor Powell conference

Wednesday, 27th February, 2019

10:00 EU - Euro-Zone industrial, services & consumer confidence
12:00 US - Mortgage applications
13:30 US - Advance goods trade balance
15:00 US - Pending home sales, factory/durable goods orders & Governor Powell conference

Thursday, 28th February, 2019

00:00 UK - Nationwide house prices index & consumer confidence
07:45 EU - French GDP
13:00 EU - German CPI
13:30 US - GDP, jobless claims & personal consumption
15:00 US - Existing home sales

Friday, 1st March, 2019

01:15 US - Governor Powell conference
08:55 EU - German unemployment 
09:30 UK - Net consumer credit, mortgage approvals & PMI
10:00 EU - Euro-Zone CPI & unemployment
13:30 US - Personal income/spending
15:00 US - Manufacturing & employment


Dan Waterman
Office Manager



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