Sterling remains in limbo

Hi everyone,

The Brexit rumour mill has gone quiet of late, as everyone awaits the outcome of cross-party talks. Naturally, Sterling continues to be flat, but will soon spring to life once we know whether a Brexit compromise can be reached or not between the two parties. 

Citigroup have today said they are now expecting a snap election over the coming months and this will bring with it a swift fall in the £, as political uncertainty is seen as very negative on this market as we all know by now. Many other analysts are predicting this outcome also at the moment.

EU leaders are due to meet on Wednesday at a special summit to determine conditions of a new Brexit extension, should they choose to provide one. Before that though, Theresa May meets both the German & French hierarchy in a bid to persuade them to grant her wish of an extension to June 30th. The outcome of this will provide market volatility.

The wary thing to note is that, all 27 EU states have to sign off on whatever deal is offered to the UK. If they don't, there will be a crunch vote on Thursday back in Parliament to provide MP's with a final chance to approve a deal or leave without one the next day.

It's super Wednesday this week on the data-front with figures being released from the 3 majors, so once again a lot to be watching out for. 




Upcoming Data


Tuesday, 9th April, 2019

10:00 US - Small business optimism

Wednesday, 10th April, 2019

08:30 UK - Trade balance & GDP
08:30 UK - Industrial/manufacturing/construction production
11:00 US - Mortgage applications
11:45 EU - ECB rate decision
12:30 EU - ECB's Draghi conference

12:30 US - CPI & average earnings
14:30 US - Crude oil inventories
18:00 US - FOMC meeting

Thursday, 11th April, 2019

06:00 EU - German CPI
12:30 US - Initial/continuing jobless claims

Friday, 12th April, 2019

09:00 EU - Euro-Zone industrial production
12:30 US - Import/export price index


Dan Waterman
Office Manager

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