Global Reach is becoming Corpay Cross Border, part of FLEETCOR, to broaden our client offering. Please contact our team or visit to find out more.

EU gives the UK the green light to move talks on

  • CHF - SNB Monetary Policy Assessment
  • GBP - Retail Sales m/m
  • EUR - Minimum Bid Rate

The EU announced today there has been enough progress in the Brexit talks to allow the UK to move the discussions onto the next phrase. The next phrase of talks will look at the long-term relationship between the EU and UK, discussing topics such as trade and security. However, EU leaders have warned the next stage will be tougher, causing the Pound to decline.

Across the pond, the US Retail Sales posted better than expected yesterday at 0.8%. The bullish figure was helped by the start of the holiday season and strengthening wages and provides further support for the idea that the Fed may announce three rate hikes next year. The Weekly Unemployment Claims figure also posted a bullish 225k, down from 236k last week. However, the Greenback has remained unchanged as there is a level of uncertainty behind the fate of the US tax reform, as more Senators announce they won’t be supporting the bill.

  • GBP - BOE Quarterly Bulletin 
  • USD - Empire State Manufacturing Index
  • USD - Capacity Utilization Rate

Today will see a quiet end to the week, as the markets continue to digest the week’s central bank meetings. The Bank of England Chief Economist, Andy Haldane, will be speaking at the International Rome Conference on Money, Banking and Finance.