Sterling Improved, Brexit In Focus

Pound has recommenced. Dollar is slightly subdued. Steven Mnuchin (US Treasury Secretary) claimed Senate’s version of the tax plan will not be accepted, as corporate tax lowering should not exceed 20%. David Davis (Brexit Secretary) is planning to present legislation for the parliament to vote on the trade agreement with European Union, which will be considered by October 2018.

Haruhiko Kuroda (BoJ Governor) has once again showed his appreciation of the "powerful monetary easing", which, as he claims, is essential to Japan’s economy. He predicts that soon wages and prices will increase. Australia NAB business conditions rose 7 pts to the 20-year maximum of 21 in prior month. Business confidence remained at 8. China’s retail sales increased 10.0% yoy. Fixed asset investment lifted 7.3% yoy Industrial production was up 6.2% yoy. Today, the Eurozone will publish Gross Domestic Product and industrial production. Germany will announce ZEW economic sentiment. The US will show PPI.