Daily Update - 19th February 2019
US President’s Day which is observed and there is no major economic data has been released. Volume is a little on the light side because of a U.S. bank holiday. Following a quiet start to the week, on the data front, February economic sentiment figures out of Germany and the Eurozone will be in focus later this morning. The focus will be on Germany’s economic sentiment figure that is forecast to be EUR negative. Concerns over the economic outlook for Germany and the Eurozone continue to pin the EUR back and today’s figure will provide further color ahead of Thursday’s private sector PMI numbers. Outside of the political arena, sentiment towards the U.S – China trade talks will influence risk sentiment through the day. Four Pound, economic data scheduled for release include December’s average earnings figures and the unemployment rate, which will be released alongside February’s claimant count figures. While any shift in the unemployment rate will influence, the focus will be on average earnings and claimant count numbers. Economic data out of the UK has been mixed of late, but with Brexit continuing to leave the markets uncertain over what lies ahead, downside figures will likely have more of a lasting impact than positive numbers. Outside of the stats, Brexit chatter will need to be monitored through the day. Yesterday Focus
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