Market themes of the Day: The judgment day for the Brexit deal in parliament delayed indefinitely

What you need to know before markets open
Main themes:

• The UK Prime Minister Teresa May delayed the UK parliamentary vote with stating no definite date or time in future with chances of no-deal Brexit weighing heavily on Sterling that fell to a 20-month low. For more read Joseph's Analysis here. 
• The UK labor market is expected to remain strong with unemployment at 4.1% and regular pay rise at 3.2% y/y. For more details read my UK wage Preview here. 
• May is set to call the EU most important leader now starting with German Chancellor Merkel to discuss Brexit after escaping from the parliamentary vote battlefield.
• The Reserve Bank of New Zealand Governor Adrian Orr is scheduled to testify before Finance committee in Wellington at 19:15 GMT. 

Europe

• The Eurozone Sentix indicator fell sharply to -0.3 in December down from 8.8 in November and 8.1 expected.
• The European Court of Justice released its ruling on Article 50 of the Treaty of European Union saying that the UK could unilaterally revoke Article 50 if it chooses so.
• German ZEW index of investors confidence is expected to fall to -25.0 in December.

UK 

• The European Court of Justice released its ruling on Article 50 of the Treaty of European Union saying that the UK could unilaterally revoke Article 50 if it chooses so.
• The UK manufacturing output fell unexpectedly strongly by -0.9% m/m in October.
• The UK monthly GDP rose 0.1% m/m in October, meeting the market estimate.
• UK GDP growth is expected to slow to 0.4% Q/Q in the fourth quarter of 2018 from 0.6% in the third quarter, NIESR said on Monday.
• The UK parliament is set to vote on Brexit agreement brought forward by the UK Prime Minister Theresa May. The Brexit deal is expected to be ousted triggering either deal re-negotiation with the EU or a no-confidence vote or another Brexit referendum.
• UK Prime Minister Theresa May is expected to hold discussions with the EU l;eaders to discuss Brexit deal options.
• The UK labor market is expected to remain strong with unemployment at 4.1% and regular pay rise at 3.2% y/y. For more details read my UK wage Preview here.

US

• The core US producer prices are expected to decelerate to 2.5% y/y in October.

Canada

• Building permits in Canada fell -0.2 % m/m in October compared with -0.3 % m/m forecast and previous reading of 0.4 % m/m.