Lords Defeat May Again on Brexit

1. The House of Lords opposed Prime Minister Theresa May on a important legislation regarding Brexit.
2. The Lords supported a modification to the government’s alleged European Union (Withdrawal) Bill that would guarantee the majority of EU rules on political, social and economic rights will be included as part of British law after Brexit.
3. Third loss in a row for May accounting only for the past week
4. Further Uncertainty within the UKs government could weaken the pound even further.

G7 foreign ministers discuss as main subjects Russia and Iran matters

1. During the G7 meetings on Monday, the leading nations examined ways in order to restrict Russia’s activity on Geopolitical maters on both conflicts in Syria and Ukraine.
2. Moscow’s ties with the West are somewhat damaged and could worsen even further.
3. United State officials emphasized its priorities also included Iran’s “harmful” regional actions and ending North Korea’s nuclear programs.
4. U.S. Secretary of State John Sullivan stated “Russia should join forces with the US in Syria otherwise will be held responsible.
5. The unresolved dispute of US with Russia could weaken the rouble further.

Today’s other economic highlights

• Germany: Ifo Business Climate for April, Survey: 102.6 Prior:114.7, 08:00 (GMT), could weaken the EUR
• US: Consumer Confidence for April, Survey:126.0 Prior: 127.7, 14:00 (GMT), could weaken the USD
• New Home Sales for March, Survey: 0.630M Prior: 0.618M, 14:00(GMT), Neutral to bullish for USD
• API Weekly Crude Oil Stock, Survey: N/A Prior: -1.047M, 20:00 (GMT), Any reading lower than -1.047M could support Oil prices
• Speakers: Philadelphia Fed President Patrick Harker (18:00, GMT) and BoE Governor Mark Carney (18:00, GMT) speak.

IronFX Daily Analysis