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Sterling takes a pound for the week, once again on Brexit developments as the U.K. government and opposition fail to make progress on negotiations.
United Kingdom Headlines and Economic data
Monday:
- Trump’s Tariff Threat Leaves Beijing Stalling on Next Talks – global financial markets jumped into risk aversion mode after news of Trump’s tariff threat to China, prompting a sell off in risk assets like the British pound
Tuesday:
- Conservatives resume Brexit talks with Labour amid low expectations
- Riskiness of Corporate Debt Is Increasing, BOE’s Cunliffe Says
Wednesday:
- Brexit talks between UK government and opposition near collapse – ITV – this news event likely accelerated the already negative sentiment in the British pound
- Brexit delay boosts consumer spending reveals Barclaycard
- Theresa May: Conservative MPs to discuss PM’s departure date
- BoE’s Ramsden tells banks to be careful in managing outage risks
- U.K. House prices ‘rebounded in April’
Thursday:
- UK housing market shows scant sign of recovery in April – RICS
- Jeremy Corbyn urges voters to discard labels of leave and remain
- BoE’s Saunders does not expect UK rates to rise “far or fast”
Friday:
- UK economic growth picks up as stockpiling bolsters manufacturing
- UK’s Hammond says economy ‘robust’ after latest GDP data
- The total trade deficit (goods and services) widened £8.9 billion to £18.3 billion in the three months to March 2019
- UK production output rose by 1.4% in Quarter 1 (Jan to Mar) 2019, compared with Quarter 4 (Oct to Dec) 2018, due to rises from manufacturing, and mining and quarrying