Consumer goods giant moves HQ out of UK
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The Dollar rose as the White House’ newly appointed Economic Advisor, Larry Kudlow showed his support for a stronger Dollar, by mentioning he would like to see the currency stronger than it currently is, as ‘a great country needs a strong currency’. He also believes the US should proceed with the second stage of the tax overhaul plan, which will make the tax cuts to individual permanent.
Consumer goods giant, Unilever has announced its plans to move its headquarters to the Netherlands, leaving the UK base. The announcement comes as UK Prime Minister, Theresa May has spent the past months trying to keep business investment in the UK, despite the risks of Brexit. It is also hoped the Brexit transition agreement should be finalised shortly, as Brexit Secretary David Davis travels to Brussels this weekend to meet with his EU counter parties.
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Back in the US, Manufacturing Indexes are set to be released from the Empire State and the Philly Fed. The Empire State figure is expected to rise from 13.1 to 14, whilst the Philly Fed Index is forecast to drop for February, from 25.58 to 23.1. The Weekly Unemployment Claims figure will be released, expecting to post 227k.