07/12/2016 - Brexit Plan To Be Published

GBP

In the tabloids article 50 and the UK’s Brexit plain again dominated the headlines yesterday. Theresa May said she would publish a Brexit negotiating plan in an attempt to fend off a parliamentary revolt, but said she will challenge MPs to vote in favour of triggering article 50 by the end of March. 
 
Dozens of Conservatives had threatened to vote with Labour and some formerly pro-remain Tory MPs, as No 10 largely accepted an opposition motion calling on her to publish a plan for Brexit. The government is fighting an appeal in the Supreme Court to assert its right to trigger article 50 through the royal prerogative instead of through parliament.
 

USD 

In a major boost to the US manufacturing sector new orders for factory goods recorded their biggest increase in nearly 1-1/2 years in October.
 
The figure shows the manufacturing sector is gradually recovering after a prolonged downturn after new orders rose 2.7 percent which adds to factory surveys in suggesting an upturn. There were increases in orders for computers and electronic products, capital goods, and electrical equipment, appliances and components.
 

EUR

Ahead of the German elections next year Angela Merkel for the first time endorsed her party’s call for a partial ban on burqa and niqab in Germany, telling delegates at the Christian Democratic Union’s conference in Essen “the full facial veil is inappropriate and should be banned wherever it is legally possible”.
 
In her first party address since announcing she would run for a fourth term as chancellor next year, Merkel focused on law-and-order issues guaranteed to fire up her party’s conservative base.
 

Key Announcements

09:30 – GBP – Manufacturing production is forecast to decrease to 0.2%
 
15:30 – USD – Crude oil inventories