- US President Donald Trump has said he is prepared to wait as long as it takes to get his $5 Billion funding from tax payers in order to build his US-Mexico border wall. His unwavering stance has seen the US Federal Government in a partial shutdown for 5 days so far.
- Speaking yesterday, the leading industry groups within Germany said that the UK’s departure from the European Union and President Trump’s ‘America First’ policies were the biggest threats to the growth and prosperity of the German economy.
- According to EU commissioner Oettinger, the EU will allow France to run a budget deficit higher than the EU’s 3% ceiling in 2019 provided it is a one-off event. This move could be massively controversial given the EU’s stance against the Italian Government’s Budget proposal.
- Earlier this week the Chinese Government announced they would be cutting tariffs on more than 700 goods from the 1st January. This was the third round of cuts this year and is aimed at opening up the Chinese economy and lowering costs for domestic consumers.
- According to the Institute of Directors, confidence in the UK economy amongst British business leaders has fallen to its lowest level in 18 months as the risk of a no-deal Brexit continues to grow with just three months remaining before the Brexit deadline. According to the IOD, their confidence tracker did briefly reach positive territory earlier in the year when agreement on a transitional arrangement had been agreed, however the reading has steadily fallen since.
- As to be expected data is very thin on the ground today.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|15.00||USD||CB Consumer Confidence||133.7||135.7|