The pound strengthened as MPs voted yesterday evening to take control of the parliamentary timetable and therefore Brexit, by 329 votes to 302. We can now expect a series of indicative votes on Wednesday, in which Parliament gives its say on a number of Brexit options.
However, this does mean that more volatility is on the horizon. As SNP MP Joanna Cherry Tweeted, Parliament could easily award itself another day and so forth. On the other hand, the results of the indicative votes are not binding – and Theresa May is unlikely to support any that go against her manifesto.
In some positive news for the Eurozone, German business confidence came in higher than expected, helping to push up the euro, although consumer confidence was still disappointing.
Disappointing economic data from the US, including the Chicago Fed National Activity Index figure, continue to raise concerns about the health of America’s economy. Today we will see a number of releases, including housing starts, building permits and consumer confidence and forecasts do not look positive.
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