Theresa May to address parliament tomorrow

Hi everyone,

Figures this morning showed the UK economy surprisingly shrank in December. Although Sterling has been pretty much unfazed by the news, it is something to watch closely in the coming months for possible recession triggers. 

Brexit figurehead Boris Johnson today claimed he would accept a time limit on the Irish backstop instead of a full removal. This is significant because it aligns with what Theresa May is trying to negotiate with the EU. Many feel that if Johnson & the DUP can get behind a new deal, some Labour MP's will follow.

Danske Bank believe Sterling will start to 'deteriorate' into the £-€1.12's & £-$1.27's over the coming weeks, if there is no material reduction soon for a no-deal Brexit. Morgan Stanley have suggested that Sterling is 20% 'undervalued' and expect a huge rise across the board if a new deal passes. Nothing new here..

Theresa May is in Parliament tomorrow to update MP's on her recent negotiation talks. 




Upcoming Data


Tuesday, 12th February, 2019

13:00 UK - Governor Carney conference

Wednesday, 13th February, 2019

09:30 UK - CPI, PPI, RPI & house price index
12:00 US - Mortgage applications
13:30 US - CPI, average earnings
19:00 US - Monthly budget

Thursday, 14th February, 2019

00:00 UK - House price balance
07:00 EU - German GDP
10:00 EU - Euro-Zone employment & GDP
13:30 US - Jobless claims, Retail sales

Friday, 15th February, 2019

09:30 UK - Retail sales
10:00 EU - Euro-Zone trade balance
13:30 US - Import & export price index
14:15 US - Industrial & manufacturing production


Dan Waterman
Office Manager

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