Daily Update - 12th February 2019
Yesterday's Focus Yesterday's Explained GDP Data Shows UK Economy is Stumbling but Strategists Mixed on Sterling's Outlook vs. Euro and Dollar as all Eyes Fixed on Brexit. Quarter-on-quarter GDP data shows the economy grew 0.2% in the fourth quarter 2019, below the 0.3% growth forecast by analysts. The economy grew 1.3% year-on-year in the final quarter, below expectations for a reading of 1.4%. Rolling three-month-on-three-month GDP meanwhile shows a clear picture of an economy witnessing falling rates of economic growth. Today's Focus Today's Market Analysts believe that Fed Chairperson Jerome Powell will be taking a softer stance against the Monetary Rate Hikes and he will be more focused on Monetary Policy Tightening towards a sustainable Economy of US. UK Prime Minister Theresa May’s spokesman said she will make a statement in the parliament today. And, “that will be an update on Brexit talks and is in advance of the debate taking place on Thursday.” That was a day ahead of market expectations. But anyway, parliament debate on February 14 will be a major focus this week. Attention would be on any motions that could shift the control of Brexit from the government to the parliament. And if so, that would open up the route for lawmakers to renegotiate, delay, or even block Brexit.
