Mrs. May and her Plan B

Weekly Report - 21/01/2019

Mrs. May focuses on Plan B and will mark down her intentions today


The UK wants and hopes for an extension and a deal for Parliament to vote for on the 29th of this month. The prime minister will speak to the Commons this evening. She will mark down her intentions on how she is going to proceed with the Brexit departure deal. We can anticipate that the GBP is going to be particularly susceptible to chatter from Parliament. If there’s no discussion of expansion and plan B fails then the Pound may be in serious trouble.

The Week that was

Last Friday the U.S. stock index futures pointed towards a more bullish mood while investors were analyzing the news that President Donald Trump’s administration may reduce taxes imposed on China.

NASDAQ and S&P 500 futures rose while the Dow futures gained about 78 points, showing a positive start of more than 60 points. On Thursday the stock market closed above following the Wall Street Journal report that the U.S. could reduce trade taxes versus China.


Main Focus This Week

The key stats for the greenback are the following: On Tuesday we will have the prelim January private sector, PMI December existing home sales, the weekly jobless claims figures on Thursday and on Friday advanced December durable goods figures while for the Pound, key stats are restricted to employment numbers coming out on Tuesday and January industrial trend orders on Wednesday. Now the main problem for President Trump is about the longest government shutdown in U.S history. The effects of this serious matter has started to hit the economy and, if there’s no resolution soon the popular USD may start to fade.


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