UK Government to trigger Article 50 today
Quite a big day for markets, where attention turns to the UK. There are also announcements from Europe as well as the US.
The main talking point for markets today is the UK Government triggering Article 50 of the Lisbon Treaty. This allows PM Theresa May and the UK begin Brexit negotiations. Markets will be looking for any early indication as to the tone that these negotiations take. Will both parties be conciliatory in their approach, or will they both go into negotiations hard-headed, unwilling to concede ground? The talk around markets is one of that indicates that both sides are steadfast with their demands. This could make talks very difficult. On the other hand, this could all be political talk in order for both sides to look strong in the eyes of the people they govern. As far as announcements go for the UK, they are releasing a few pieces of information. This includes: Net Lending to Individuals, M4 Money Supply, Consumer Credit and Mortgage Approvals.
Europe is publishing a host of data. Among this data is: German Import Prices, Swiss UBS Consumption Indicator, French & Italian Consumer Confidence, Italian Business Confidence and Italian Wage Inflation.
Finally, the US is reporting Pending Home Sales, Mortgage Applications and Crude Oil Inventories figures. Meanwhile, Fed Reserve Members George Evans, Eric Rosengren and John Williams are all due to speak.