Pound’s Decline, Theresa May’s Incompetence
The Pound has significantly fallen as members of the Conservative party started to question Theresa May’s abilities to be a prime-minister, and they are ready to sign a letter of no confidence. David Davis (Brexit secretary) didn’t comply the 2-week deadline, which Michel Barnier (EU's chief negotiator) had fixed. The secretary accuses EU in trying to take the entire control. Let us recall that before discussing a trade agreement in December, both sides should make sure a “sufficient progress” is made. Meanwhile, Greenback has reinforced thanks to treasury yields’ increase.
Angela Merkel is calling for a peaceful and calm creation of the three-party coalition. Christian Democratic Union, Free Democratic Party and Greens will soon begin negotiations. The appreciation of Merkel’s CDU party hit the 6-year old minimum.
Japan Domestic CGPI lifted 3.4% yoy last month. British Rightmove house price reduced -0.8% mom this month. Germany is going to feature a Wholesale Price Index.