• CABLE RETRACES ALL OF THE ELECTION MOVE
• US EQUITIES AT ALL TIME HIGHS
• US INCREASED SPENDING TO AVOID GOVT. SHUTDOWN
ECB President Christine Lagarde is first up today. It follows her first speech last week that caught some market participants off guard. The Euro has outperformed other currencies this week and it could be Lagarde now shifts to a dovish tone to avoid too much strength in the single currency.
Focus then shifts to UK CPI that is set for released at 09:30 and is expected to show prices to have risen by 1.4%. Political uncertainty triggered a Sterling sell off this week as fears of a no-deal Brexit are reignited. Sterling has dropped from 1.3520 to 1.3072 on the back of this and poor economic data released this week has done little to stop the selling. Any hints inflationary pressure is easing will weigh on the pound further.
In the US – President Trump is most likely now to become the 3rd POTUS to ever be impeached and he has gone on the offensive to remind his voters that not only has the Stock Market hit a record high it has done so 133 times in less than 3 years. Yesterday the House of Representatives added to their already increased spending plans by approving a further $1.4 trillion spending package.