Rational Thinking - Trump Gives Views on Brexit Negotiations

Last week:GBP

  • Brexit Party sweep home in European Elections (32% of the vote)
  • Pro-EU Lib Dems second with 20% of the vote
  • Boris Johnson was summoned to appear in court over Brexit referendum comments
  • Brexit continued to weigh on the car production industry, with production falling to 44.5% YoY; sharpest fall in 10 years

EUR

  • The ECB’s May Financial Stability Report was released
  • Detailed a period of slow growth in the Eurozone
  • Main contributing factors are Brexit tensions, global trade tensions and weak performance by Germany

Week ahead:EUR

  • GDP (YoY) & (QoQ) for Q1; 1.2% and 0.2% respectively
  • Consumer Price Index (YoY); 1.3% against previous of 1.7%
  • ECB Interest Rate Decision; expected to remain at 0%

USD

  • ISM Manufacturing PMI (May); 53.3 against a previous of 52.8
  • Average hourly earnings; staying at 3.2%
  • Nonfarm payroll; 190k jobs created against a previous reading of 263k
  • ISM non-manufacturing PMI (May); staying at 55.5