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Market Update

• Posted by currencies in Bank of England, Bremain, Brexit, Currency, Dollar, Economy, EUR, Fed, GBP, Inflation, Rate Alerts, Sterling, UK, Uncategorised
• January 22, 2020
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On Tuesday Boris Johnson suffered a fourth defeat on his Brexit Legislation after members of Parliament’s Upper Chamber voted to protect Children Refugee’s once Britain leaves the European Union. Changes were initially made to the legislation on Monday, including the rights of EU citizens after Brexit. The Bill is due to be debated again next week in the House of Commons where Boris Johnson will seek to overturn the amendments.

British job growth was the strongest in almost a year in the three-month period up to November 2019, this surprising strength in jobs data has weakened the case for a rate cut down from 0.75% at next week’s Bank Of England meeting.

Economic Sentiment for Germany rose from 10.7 to 26.7 back in December, providing the highest reading since 2015 and well above expectations of 15.0. Main factor behind this rise was the settlement of the trade dispute between United States and China, increasing speculation that Germany haven’t been affected as much as first thought from these negotiations.

United States President Donald Trump is now preparing to re-engage in trade negotiations with Europe with hope they can reach an agreement on a trade deal. Trump has previously threatened to hit Europe with tariffs on imported European Cars if talks didn’t succeed.