Daily Update - 12th March 2019
According to the official releases, German Industrial Production decreased in January, US data was quite mixed, as Retail Sales were better-than-expected in January. The Sterling fell to a fresh March low against the greenback of 1.2960, to later soar to 1.3149, as Brexit headlines kept coming ever since the day started. Pound's decline was linked to headlines suggesting that PM May could be ousted, amid the lack of progress with EU's negotiations ahead of this Tuesday's Parliamentary vote on her deal. Despite multiple meetings that took place last week, no progress was achieved. The late advance was triggered by news indicating that UK's May and EU's Juncker will meet shortly in France, to try to clinch a last-minute deal. UK lawmakers will decide today, whether or not PM May's deal is enough. In the case it gets rejected, they can vote on an extension to the departure date beyond March 29 on Tuesday. Tuesday will start with a Fed's Chief Powell speech during Asian trading hours, although it seems unlikely he would add much to his weekly comments, dollar positive as he said that the US economy is still strong, The US will release February inflation figures, any deviation may impact the Fed’s “patience”.Yesterday’s Market
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