Markets were still digesting President Donald’s Trump’s signing of an executive order on Friday which would clamp down more severely on immigration policies. As a result, the Greenback declined against all its major peers, only holding up against the Euro and gaining slightly against the Pound. As tensions continue to mount in the US and the UK’s petition to stop Donald Trump’s state visit to Britain grows, today there will no doubt be further unrest in the market.
Parliament begins a two-day debate today over the Government’s bill to get Brexit underway. The bill sets out Prime Minister Theresa May’s plans for taking the UK out of the EU. MP’s are to vote on the passing of the bill on Wednesday, which if passed will allow May to trigger Article 50 by the end of March. The activity of Parliament over the next two days could cause volatility for the Pound.
Data released today will firstly see the Inflation Gauge for the Eurozone possibly jumping to a reading of 1.5%, a slightly undesirable figure for the European Central Bank. The first reading of Eurozone Q4 GDP is also released and is expected to show slight improvement with growth up to 0.4% from a previous 0.3%. Finally, from across the pond, markets get an insight into consumer confidence from the US this afternoon.