There were further signs that the trade war and Brexit is having a negative impact on the eurozone’s economy yesterday, with the release of the Markit composite PMI readings. The eurozone’s composite PMI dropped to 52.7 in November…
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While the political situation understandably took centre stage yesterday, there was the little matter of the Markit services PMI reading for November on the economic data schedule. Rather alarmingly, the figure dropped to just 50.4 last month –…
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After MPs passed a historic motion to hold the government in contempt, the Commons leader, Andrea Leadsom, confirmed that the Brexit legal advice would be released by the government at 11:30am on Wednesday. Reaction to the advice was…
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What was a rollercoaster day for the pound was a rollercoaster day for the dollar too, as the greenback started the day by losing quite a bit of ground against sterling, before retracing those losses. By the end…
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Yesterday, the European Court of Justice’s Advocate General, Manuel Campos Sánchez-Bordona, said that the UK could revoke Article 50 and, in effect, cancel Brexit. Importantly, he said that this could be done without the EU’s approval – which…
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Towards the end of yesterday afternoon, we learned that opposition parties had won a vote on the government being in contempt of Parliament by four votes. Soon after, MPs backed a motion that declared ministers were in contempt…
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Yesterday, Mark Carney defended the Brexit analysis released by the Bank of England last week. The key points from the Bank’s scenario for a disorderly Brexit are that GDP would fall by as much as 8% next year,…
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On Saturday night, Trump held talks with Xi Jinping and it looks as if there has been a trade war truce for the time being. The president Tweeted several times throughout yesterday, with one social media posting stating…
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