Euro-Area Production Slump Adds to Gloom for Economic Outlook
ndustrial output in the euro area fell the most in almost three years in November, raising questions over the economy’s ability to regain momentum after a broad-based slowdown. Production dropped 1.7 percent in November, more than economists predicted, underlining the impact from a range of temporary and structural factors — from dry weather to softer global demand. Read More @ https://www.bloomberg.com//news/articles/2019-01-14/euro-area-production-slump-adds-to-gloom-for-economic-outlook?srnd=markets-vp
Theresa May says no Brexit more likely than no deal
Prime Minister Theresa May is making a last-ditch attempt to persuade MPs to back her Brexit deal as Tuesday’s key Commons vote looms closer. She will use a speech on Monday to warn that Parliament is more likely to block Brexit than let the UK leave without a deal. Mrs May will add that trust in politics will suffer “catastrophic harm” if the referendum result is not implemented. Labour has vowed to table a vote of no confidence if Mrs May loses. Its leader Jeremy Corbyn said Labour would vote against the deal and would start moves to trigger a general election if it is voted down. He told the BBC’s Andrew Marr show: “We will table a motion of no confidence in the government at a time of our choosing, but it’s going to be soon, don’t worry about it.” Read more @ https://www.bbc.com/news/uk-politics-46856149
WHAT CAN POSSIBLY GO WRONG ON TUESDAY?
- ECB draghi will continue to be dovish and ensure EURO is competitive around the globe with cheap EURO.
- Thresa May may have her way – but we stay dovish of GBP for now.
USD will continue to dominate the market this week after last week a good pullback. Always ensure you have a good money management with 10/2 rule in place.
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