Morning Update – Getting serious in Salzburg

Morning all

Getting straight into it this morning…

GBP

Retail sales again came out better than expected, brilliant news. GBP pushing higher and it looks like the economy (in isolation) is doing really well. Theresa May has also been busy in Salzburg, telling her 27 counterparts her priorities were maintaining economic ties and ensuring promises to Northern Ireland were kept. There are also suggestions the UK will put forward new ideas for regulatory checks to address the current Irish deadlock. In our opinion now this is being dealt with rather than swept under the carpet, GBP seems to be acting positively all round. Fingers crossed!

EUR

As mentioned earlier in the week, PMI’s are out on Friday. Been struggling a bit vs the EUR and USD, lets see what happens tomorrow.

USD

Now the weather has taken a back seat in the media we can start to focus on the trade agreement with China which is still largely unresolved.

This is also good for a laugh, Trump has told Spain to ‘build a wall’ across the Sahara desert to solve the migration crises..!

Have a good day

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