A holiday-shortened week but a big one for economic data…
The following week will only comprise of 4 trading days with the UK and Europe set to observe Good Friday. Nevertheless, the next few days will contain some important data releases which could materially impact the direction of FX markets.
From the UK perspective, Brexit developments and economic numbers will be in abundance. As it stands, Theresa May is still trying to work on a compromise with Jeremy Corbyn and the Labour Party. This week should provide some new insights into the progress of these discussions, as the clock ticks down to the first real unwritten deadline for May and the Conservatives, EU elections! On the data front, the coming days will host domestic employment, inflation and a retail sales report all of which could influence the pound’s direction.
The US sees a big week for company earnings, these will be incredibly important after the near 15% crash in US and global stock markets at the turn of the year on growth fears. Retail sales will also be a driver of the greenback which are set for publication on Thursday.
Elsewhere, China will be the first major economy to release 2019 Q1 GDP data on Wednesday morning. Once again, this number will be important for risk-sentiment given recent concerns over the health of the 2nd largest economy in the world. From the Eurozone, flash PMI numbers will feature this week as the single currency tries to find its feet after the recent selling pressure it’s endured.
Written by Viv Savani. 8:18am, April 15th 2019
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8:46am, April 17th 2019
GBP falls as reports surface that Brexit talks have stalled…