Theresa May’s Brexit deal vote in focus

Weekly Report - 28/01/2019

Brexit Latest News


The 2 most important matters are in focus once more. The plan B vote in parliament for the Brexit deal is due for tomorrow. Now, if plan B fails automatically the UK will delay the withdrawal from the EU. That probably will create some pressure for the Pound. Especially if strengthened up by discussions of a 2nd referendum.

Now regarding the ongoing US – China Trade War, Trade talks are due to resume on Wednesday. The meeting will take place in DC.

The Week that was

Last Week Oil prices rose more than 1% as the uncertainty in Venezuela sparked fears that its oil exports may quickly be suspended. Last Thursday the US warned that it could impose penalties on Venezuela's crude exports while Caracas falls further into political and financial chaos. US West Texas Intermediate (WTI) crude futures were at $53.90 per barrel while International Brent crude oil futures were at $61.89 a barrel. Last Friday marked by the fact that the GBP touched an almost 3 -month top following a report from Sun that Northern Ireland's Democratic Unionist Party has privately decided to give restricted support to May's Brexit deal.


Main Focus This Week

The following week will be particularly interesting for the USD with important stats coming out. The January consumer confidence figures are due for Tuesday while on Wednesday we have the quarterly GDP numbers on the FED’s preferred Core PCE Price index, January ADP non-farm payroll personal and on Thursday Chicago PMI numbers. The end of the week will include the most important one, the nonfarm payroll figures and wage growth on Friday. Friday also will include the consumer sentiment figures for January and ISM manufacturing PMI.


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