Brexit and ECB speak amongst market movers today – Danske Bank
According to analysts at Danske Bank, today is rather heavy for market moving events on data, Brexit and ECB speakers.
Key Quotes
“On the data front, the Norwegian labour force survey and Swedish manufacturing confidence are released.”
“On the central bank front, several ECB officials are due to speak at the annual ECB watchers' conference, which definitely has the potential to move markets. Most prominently, Draghi will speak at 9:00 am and Praet at 9:45 am CET.”
“On the political front, we have yet another round of indicative votes today on Brexit in the UK (watch out for what they will vote on, especially the formulation on softer versions of Brexit, as it would be important for whether the House of Commons can support it or not). Remember, the indicative Brexit votes are not legally binding and we do not know how the EU will respond, although EU leaders will probably welcome a softer stance. This, however, will likely require a longer extension to negotiate. The main problem about Brexit is there is no majority for anything (except for a majority being against a no deal Brexit) and the House of Commons has voted most proposals down already in one way or another, so what has changed? Voting starts at 20.00 CET and results will likely be in 21:30-23:00 CET.”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
