Yesterday morning in the UK we has some positive Industrial and Manufacturing Production figures. After a 0.3 percent rise in March, Industrial output rose 2.0 percent in April. It is the biggest month-on-month increase since July 2012, according to the Office for National Statistics. Manufacturing output also rose 2.3 percent on the month following a 0.1 percent increase in March. The data is positive in light of the upcoming referendum as there had been fears that the economy may slow down due to the uncertainty surrounding the referendum.
The National Institute of Economic and Social Research (NIESR) also published its gross domestic product estimate. This came in at 0.5% in comparison to the previous quarter of 0.4%.
Yesterday the ECB released its annual report on the Euro. The euro's importance as a tool of the global financial system is dwindling, according to the European Central Bank. The Euro has struggled to keep pace as a globally used currency in the face of low interest rates and poor global growth. At 19.9 percent, the share of the Euro in foreign exchange reserves has hit its lowest level since 2000 according to the ECB's annual report on the currency's role. The ECB added: "The euro remained the second-most important currency in the international monetary system, but with a significant gap to the U.S. dollar". The dollar is in decline as well, increasing the “multipolarity” of the international monetary system.
Hillary Clinton will most-likely be the first woman to lead a major party in a race for the White House, thanks to her good results in California and New Jersey. It has been widely reported that all signs pointed to Obama endorsing Clinton on Thursday after the president meets Clinton's rival Bernie Sanders in the Oval Office.
09:30 – GBP: UK Trade Balance (Apr) expected to remain unchanged at -11.20B
13:30 – USD: Initial Jobless Claims expected to risr to 270K from 267K