Previous Day's Market Highlights
As we reach the half way point of May's attempt to gain the crucial support needed, she has effectively failed to make any progress. Yet a lack of support for the attempted coup from conservative “Brexiteers” has fizzled out giving May some short-term breathing space. However, the party remains divided with reports of a new “pizza plot” surfacing in the papers. A tabloid nick name for the five key figures of the conservative party who are aiming to remove May once an appropriate replacement has been found.
The markets had little reaction in response to the developing Brexit problems. With pound Sterling failing to recover the ground lost on Monday and trading largely flat on Tuesday.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
All eyes will be on Theresa May today as she meets with EU officials later on to agree a political declaration on Britain's withdrawal from the EU. Both sides are scrambling to finalise a Brexit deal in time for Sunday’s summit of European Leaders. The EU missed its deadline on Tuesday to complete the text of its declaration on future relations with the UK, amid concerns from several member states. Stumbling blocks still remain over UK access to the EU single market, access to UK waters for EU boats and Gibraltar.
With little in the way of data, the market will likely focus on the continuing Brexit talks. The only macro data of note is US core durable goods orders as well as the Japanese CPI figure overnight.
Today's Economic Calendar
|9:30am||GBP||Public Sector Net Borrowing||5.6bn||3.3bn|
|1:30pm||USD||Core Durable Goods Orders (m/m)||0.4%||0.0%|
|3:00pm||USD||Revised UoM Consumer Sentiment||98.4||98.3|
|11:30pm||JPY||National Core CPI (y/y)||1.0%||1.0%|