Theresa Pulls out to avoid Disappointment! Focus shifts to Economic Reports

Daily Updates - 11th December 2018

Yesterday’s Market

• GBP Industrial Production report
• GBP Gross Domestic Product

Yesterday’s explained

UK markets remain cautious in the run-up to the House of Commons vote on Prime Minister Theresa May’s latest Withdrawal Proposal, which is expected to face defeat at the hands of parliament.

On the other hand dovish outcome for industrial and manufacturing production data supported the dovish movement.

Today’s Market

• GBP UK parliamentary vote on Brexit deal
• GBP Average earnings including and excluding bonus
• EUR ZEW survey economic sentiment

Today’s explained

The British PM’s decision to delay the vote and attempt to look for a renegotiation with the EU was met with EU member states saying that there would be no renegotiation. EU leaders have said that they would be prepared to make assurances over the backstop plan, Ireland and the risk of a hard border continuing to be a bone of contention.

The Average earnings is the key indicator of how levels of pay are changing within the UK economy. The positive earnings growth anticipates positive whereas a low reading is seen as negative the economic sentiment survey measures the institutional investor sentiment, reflecting the difference between the share of investors and share of analysts.