Morning Update – The MAYBOT

Well it appears the only thing we have learnt from Theresa May’s recent international relations trip to Africa is her horrendous dancing. If you have a spare 5 minutes during a coffee break it is definitely worth googling.

GBP

Hard Brexit concerns really did hit GBP hard yesterday hovering around 11 month lows. We’ve broken some key psychological barriers and unfortunately we believe this trend to continue unless we hear some news from Theresa May suggesting there is some form of deal in the pipeline. However some breaking news reports this morning suggests that UK and EU have dropped the October deadline for the first wave of deal negotiations, with the EU admitting it would be “impossible to meet.” Same old story here unfortunately.

USD

As mentioned in yesterdays blog we have GDP and PCE figures released today. This should give us a clear picture of how the economy is fairing, however don’t expect any surprises. USD has been performing really well of late, with Trumps help.

EUR

Very much dancing to a different tune continuing it’s positive run amongst all the dramas from either side of the pond. Friday is the only real day of significance with it’s first dollop of top tier data release for the week.

Have a good day

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