May Sets Cross-Party Ultimatum

GBP

Yesterday Theresa May warned Labour that she will only allow negotiations to go on for one more week before ending cross-party talks aimed at finding a new Brexit deal. The Prime Minister reportedly gave MPs until the middle of next week to come up with a solution that will be supported by both sides of the House of Commons.

U.K. Finance Minister Philip Hammond also called on lawmakers to put aside their differences and agree to a Brexit deal, saying ongoing uncertainty around the withdrawal process is “bad for business.” Hammond said Britain must ratify its divorce deal with the EU to maintain its place as a hub for the financial sector.

USD

U.S. consumer confidence rebounded in April as Americans felt more optimistic about present and future economic conditions, highlighting how a tight labor market and higher wages are underpinning consumer attitudes amid some uncertainty.

The greater confidence suggests consumers are poised to keep spending. The Conference Board’s index climbed to 129.2. With the gauge of views on the present situation increased to 168.3, while the expectations index climbed to 103.

Key Announcements

19:00 - USD: FED Interest Rate Decision Expected to be unchanged at 2.5%
19:00 - USD: FED Monetary Policy Statement
19:30 - USD: FOMC Press Conference