- Sterling gained ground on both the euro and US dollar on Friday.
- GBP/EUR opened at 1.1498, trade a low of 1.1458, a high of 1.1524 and closed at 1.1519 representing a 0.16% increase on the day.
- GBP/USD opened at 1.3035, traded a low of 1.2968, a high of 1.3079 and closed at 1.3053 representing an increase of 0.14%.
- The BBC reported that Downing St had been warned that dozens of normally loyal Conservative MPs could rebel against the government in an attempt to prevent a no-deal Brexit.
- Shadow foreign secretary Emily Thornberry said group of MPs that left Labour to form the Independent Group have ‘betrayed’ their seats and would be ‘crushed’ if by-elections were held.
- German Ifo business climate came in at 98.5 vs 99.0 expected.
- Canadian core retail sales m/m came in at -0.5% as expected and retail sales m/m came in at -0.1% vs 0.0%.
- New Zealand retail sales q/q came in better than expected at 1.7% vs 0.5% expected and core retail sales came in at 2.0% vs 0.8%.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.8240, 1.8977 and 144.72, expected.
- Theresa May has been accused by pro-Brexit MPs of wasting time by pushing the next parliament vote on Brexit to the 12th March.
- It looks like a quiet day ahead in terms of economic data
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Reproduced with permission of GODI