- MPs again failed to back an alternative Brexit plan out of a further four put to the House of Commons yesterday.
- The four motions chosen by The Speaker and corresponding results were as follows;
- Ken Clarke’s ‘customs union’ was defeated 273 votes for to 276 against.
- Nick Boles’ ‘common market 2.0’ was defeated 261 votes for to 282 against.
- Kyle and Wilson’s ‘confirmatory public vote’ was defeated 280 votes for to 292 against.
- Joanna Cherry’s ‘parliamentary supremacy’ was defeated 191 votes for and 292 against.
- The European Union’s chief negotiator Michel Barnier said in the light of the newest round of indicative votes, a no-deal Brexit is more likely now however it can be avoided. Barnier said that a long extension beyond 12th April carried “significant risks for the EU” and that a “strong justification would be needed” before the EU would agree.
- UK manufacturing PMI came in better than expected at 55.1 vs 51.2.
- Eurozone CPI flash estimate y/y came in weaker than expected at 1.4% vs 1.5%.
- US retail sales came in weaker than expected at -0.2% vs 0.3%.
- ISM manufacturing PMI came in at 55.3.
- GBP/EUR opened at 1.1625, traded a high of 1.1728, a low of 1.1593 and closed at 1.1652 representing a +0.23% move on the day.
- GBP/USD opened at 1.3037, traded a high of 1.3149, a low of 1.3009 and closed at 1.3101 representing a +0.51% move.
- Australian building approvals m/m came in far better than expected at 19.1% vs -1.7%.
- Australian cash rate was kept at 1.50%.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.8451, 1.9272 and 145.29, respectively.
- Prime Minister Theresa May is chairing two cabinet meetings this morning to try and find a way to push through the current impasse.
- At 1.30pm we are expecting core durable good orders data from the US.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|13:30||USD||Core durable goods orders m/m||0.3%||-0.2%|
|13:30||USD||Durable goods orders m/m||-1.1%||0.3%|