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May and Corbyn face a live televised Q&A as the race for number 10 heats up

  • EUR - ECB President Draghi Speaks
  • EUR - M3 Money Supply y/y: 4.9%
  • NZD - Building Consents m/m: -7.6%

In the closest to a head to head debate the public would get, both May and Corbyn faced a tough grilling from a live studio audience last night, in a special general election programme broadcasted on Sky News and Channel 4. Corbyn opted to go first facing questions on his views on the foreign policy and his past campaigning in Northern Ireland. Whilst May continued to defend the seemingly unpopular social care reform and Brexit. When the election was called back in April, it seemed Theresa May would win by a landslide. However, since then Corbyn has gained support from the voters, seeing the Sterling weaken as a result.

In the Eurozone, ECB President Draghi’s dovish message to the European Parliament, yesterday afternoon, saw the Euro slip back against the Greenback. The move comes as Draghi suggested that the US are heading down the ‘wrong path’ on trade policies. The ECB President also signalled that there is little urgency to start unwinding the bond purchasing program at the next policy meeting.

  • USD - CB Consumer Confidence
  • NZD - RBNZ Financial Stability Report
  • CAD - Current Account

There is a fairly quiet start to the week, with the only high tier data release being today; the CB Consumer Confidence report from the US. The report provides an insight into the thoughts on current and future economic conditions from about 5,000 households and is therefore a key indicator into consumer spending. Consumer confidence in the States is forecast at a slightly lower 120.1.