UK Labour expects to defeat May

  1. The UK Labour party expects to defeat May in the house of Lords this week .
  2. 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.
  3. On other news, May faces a critical parliament over her actions in Syria however the majority is expected to back the PM.
  4. Overall should there be further positive headlines about Brexit the pound could strengthen.

New NAFTA meeting

  1. Mexican economy minister Guajardo said that a meeting on Thursday could take place to discuss the NAFTA.
  2. Though no final decisions are to be met, some progress could be announced at a number of issues.
  3. The meeting is to serve more as a starting point for further negotiations.
  4. Should there be further positive headlines for NAFTA there could be some turbulence for CAD, right after the Bo
  5. 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.

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