The only releases of note from the eurozone yesterday were the manufacturing PMI readings from Germany and the eurozone. Both were revised upwards to 51.8 in November 2018 from preliminary readings of 51.6 and 51.5 respectively. Still, both…
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The UK manufacturing PMI jumped to 53.1 in November from 51.1 in October, which was some way above the 51.5 the markets had been expecting. The majority of the increase in demand came from domestic customers, who are…
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Sterling began the week by weakening against the euro and dollar as political uncertainty continues to exert pressure on the pound. It started the day by making some small gains before dropping to its lowest level against the…
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In the early hours of this morning, Donald Trump indicated that China has made more concessions on automotive trade. There have been reports that China has agreed to ‘reduce and remove’ tariffs below the 40% level that is…
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On Friday morning, annualised German retail sales for October smashed forecasts. The markets had been expecting sales to do an about-turn from -2.8% to 2.7%, but the year-on-year reading actually came in at 5%. On a monthly basis,…
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The only economic data release of note from the UK on Friday was the Nationwide housing prices for October. The figures showed that growth picked up to 1.9% in November, from the previous month’s five-year low of 1.6%.…
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On Thursday, Theresa May gave comments to the House of Commons liaison committee, where she claimed that extending Article 50 could lead to a renegotiation of her Brexit deal with Brussels. However, on Friday, EU officials dismissed this…
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The big news of the day from America was Trump’s former lawyer, Michael Cohen, pleading guilty to charges of lying to Congress. Trump called Cohen ‘weak’ and claimed that he is lying to get a reduced sentence.
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