Daily Update - 14th Mar 2017
EUR continued to find demand on Friday's headlines about ECB considering tapering ahead of the end of their QE program by the end of this year, maintaining a positive tone near term. UK's Brexit Minister, David Davis, has requested the parliament to pave the way for PM May to start the exiting process from the EU. Pound found positive support from Brexit´s Minister David Davis who asked the Parliament to clear the path for PM May to begin negotiations with the EU to begin the exit process. Scottish PM Nicola Sturgeon announced a plan to stage a second independence referendum within the next two years, claiming that UK PM May has ignored Scotland´s desires of maintaining full access to the EU single market after the Brexit. The news should have been Pound negative, but attention is now centered in the US and what the Federal Reserve will say this week The day will commence with few mid-tier reports coming in from Germany such as the consumer price index which measures the average price change for all goods and services purchased by households for consumption purposes. This will be followed by the industrial Production report which is coming out for the Euro Zone which will show the volume of production of Industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. The Day will end with Labor market conditions from US, which is a primary source of common variation among 19 labor market indicators in the US.Yesterday’s Markets
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