Single Currency Quiet, US CPI Awaited
Euro remains unremarkable. The Euro/Dollar pair lifted 0.05% to trade at 1.2439. Today’s key event is US Consumer Price Index release. Tomorrow, Mario Draghi will deliver a speech at an ECB conference in Frankfurt. Additionally, we’ll get German Final Consumer Price Index and US key inflation and consumer spending.
It seems that the whole Brexit process is getting more and more complicated. Last week, president of the European Council Donald Tusk told Threresa May to underscore her priorities in the negotiation in order to save a close relationship with the European Union. The Prime Minister, in her turn, declared that she wouldn’t accept the custom union and wouldn’t allow European Court of Justice to have a jurisdiction upon Britain. If Theresa May doesn’t back down with her assertive demands, there would be some “negative economic consequences”, claims EU.
German Factory Orders fell 3.9% in January. Industrial Production weakened as well. Nonetheless, German economy keeps pointing at improvement. US wage growth reduced from 0.3% to 0.1% last month. Non-farm payrolls increased to 313K.