The pound weakened yesterday as Parliament returned, despite an initial boost from the Supreme Court’s judgement. Despite a fiery session in the House of Commons, it seems that nothing is truly off the table, as the government says it will table a motion for an election, while Labour insists it cannot happen until no-deal has truly been taken off the table.
The ECB has just published its economic bulletin this morning, highlighting the risks to the eurozone economy from the general slowdown, although the tone is still cautiously optimistic, saying that the fiscal stance for the eurozone is likely to be ‘mildly expansionary, providing some support to economic activity.’
In the US, the dollar strengthened after Congress’ impeachment inquiry failed to gather momentum. Today, the markets are looking forwards to this afternoon’s GDP figures, expected to show a drop from the previous quarter.
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