FBS Weekly Digest!
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FBS has reached a milestone of 10 years in business!
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Thanks for a great 10 years! Participate in the promotion and celebrate FBS’ 10th birthday!
Weekly Economic News and Events
- February 13, 3:00 MT time – RBNZ Monetary Policy Statement
- The positive comments by the New Zealand central bank will move the NZD up.
- February 13, 15:30 MT time – US CPI and core CPI
- If the indicators come out greater, than the forecasts, the US dollar will strengthen.
- February 14, 15:30 MT time – US retail sales and core retail sales
- If the actual figures outperform the forecasts, the USD will be supported.
- February 15, 11:30 MT time – Britain’s retail sales
- If the level of retail sales is higher, that analysts’ expectations, the British pound will rise.
FRESH ANALYTICS – Will the Brexit shake the GBP again?
The catastrophic defeat of the Brexit deal in the Parliament last month did not diminish the position of the British prime minister.
Since then, Theresa May has been desperately trying to reach the ideal agreement, which is be suitable for all sides.
Her latest attempts did not result in any decent changes to the current Brexit agreement, though.
Firstly, the European Commission chief Jean-Claude Juncker confirmed that the current agreement between the EU and Great Britain cannot be renegotiated.
Also, the Labour opposition raised concerns about the possible delay of the final Brexit date (March 29).
Now, the next key days for Brexit and Great Britain, in general, are February 13-14.
On February 13, Theresa May will make the statement to the British Parliament on her progress in seeking changes to the deal.
After that, on February 14, the British parliament will debate on her deal and suggest changes.
Will it make the deal to be finally approved by the Parliament? No one knows yet.
But the Irish backstop issue is still the unsolved case.
The customs union may be a possible solution to this problem, but Theresa May is against it.
If the members of the government manage to agree on the changes to the current agreement, it will open the door for further negotiations with the European Union.
As a result, the market will appreciate this news and the GBP will rise.
Alternatively, if the British government and the members of the Parliament cannot agree on the changes, the British currency will suffer.
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