Rational Thinking - May's Plan Left in Turmoil

This week:

May's Withdrawal Agreement voted down for a 3rd time
344 votes to 286, a margin of 58 votes
UK miss EU deadline to delay until 22nd May
Has until April 12th to seek a longer extension, likely to be involved in European Elections
May had announced that she would quit if MP’s backed her deal


Draghi continues dovish rhetoric
Suggested that there could be a further delay to in hiking interest rates.
Comes after the ECB downgraded its growth projections for the region earlier this month (cut to 1.1% from 1.7%)


Safe haven benefits despite weak data
GDP in 4th quarter was lower than expected at 2.2%
Decline in Benchmark U.S. Treasury yields to 15 month lows

Week ahead:

UK Brexit Parliamentary Vote

CPI Core (YoY) (March); expected to fall to 0.9% from 1% previous
CPI Index (YoY) (March), expected to remain at 1.5%

Retail Sales (Feb) fall to 0.4% from 1.1%
ISM Manufacturing PMI (March)- increase to 54.5 from 54.2
ISM Non-Manufacturing PMI (March)- decrease to 58.7 from 59.7