Brexit Uncertainty Causes Economy To Shrink

Last Week
GBP:

  • British economy shrank for first time since 2012
  • GDP contracted at a quarterly rate of 0.2%
  • Manufacturing was biggest reason for contraction
  • Corbyn said he will call for a vote of no confidence after summer recess
  • Johnson ups no-deal preparations

This Week
GBP:

  • Average Earnings excluding bonus (June); expected to increase to 3.8% from 3.6%
  • Consumer Price Index (YoY) (Jul); expected to remain at 2%

EUR

  • Eurozone GDP (YoY Q2); expected to remain at 1.1%
  • Eurozone GDP (QoQ Q2); expected to remain at 0.2

USD

  • Consumer Price Index ex Food & Energy (YoY Jul); expected to remain at 2.1%
  • Consumer Price Index ex Food & Energy (MoM Jul); expected to fall to 0.2% from 0.3%