Daily Report: UK Labour expects to defeat May and New NAFTA meeting
UK Labour expects to defeat May.
UK Labour expects to defeat May
- The UK Labour party expects to defeat May in the house of Lords this week .
- The key issue will be the customs union with the EU and Labour seem to be partnering with some Conservatives as well as Liberals form a majority which could force May to shift her Brexit policy.
- On other news, May faces a critical parliament over her actions in Syria however the majority is expected to back the PM.
- Overall should there be further positive headlines about Brexit the pound could strengthen.
New NAFTA meeting
- Mexican economy minister Guajardo said that a meeting on Thursday could take place to discuss the NAFTA.
- Though no final decisions are to be met, some progress could be announced at a number of issues.
- The meeting is to serve more as a starting point for further negotiations.
- Should there be further positive headlines for NAFTA there could be some turbulence for CAD, right after the Bo
- C decision.
Today’s other economic highlights
- UK: Unemployment Rate for February, Survey: 4.3% Prior: 4.3%, 08:30 (GMT), could support the GBP
- Employment Change for February, Survey: 33K Prior: 168K, 08:30 (GMT), could weaken the pound
- Average Earnings Index(+Bonus) , Survey: +3.0% yoy Prior: +2.8% yoy, 08:30 (GMT), could support the GBP
- Germany: ZEW Economic Sentiment for April, Survey:-1.6 Prior:+5.1, 09:00 (GMT), could weaken the EUR
- ZEW Current Conditions for April, Survey:88.0 Prior: 90.7, 09:00 (GMT), could weaken the EUR
- New Zealand: Milk Auctions, Survey: N/A Prior:3,477, ≈12:00 (GMT), Any reading > 3477 could support the Kiwi
- US: Building Permits for March, Survey:1.323M Prior:1.321M, 12:30 (GMT), neutral for USD
- Housing Starts for March, Survey: 1.262M Prior:1.236M, 12:30 (GMT), could strengthen the USD
- Industrial Production for March, Survey: +0.4% mom Prior:+0.9% mom, 13:15 (GMT) could weaken the USD
- API weekly Crude Oil Stocks, Survey: N/A Prior:1.758M, 20:30 (GMT), any reading <1.758M could support Oil Prices
- Speakers: Bundesbank member Dr. Joachim Wuermeling (11:30 GMT), FOMC members Williams (13:15 GMT), Quarles (14:00 GMT), Evans (17:40 GMT) and Philadelphia
- Fed President Patrick Harker (15:00 GMT) speak.