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March 2017

May announces date for the invoking of article 50

Published: Monday 20 March 2017

Quite a flat morning, no major moves as to be expected from the light data. The main news is that Theresa May has announced the date for the invoking of article 50, officially notifying the European Union next Wednesday that the UK is leaving - 29th March 2017. Despite this the Pound is for now still up against the majority of the majors.

Downing Street said May would write a letter to the European Council, adding that it hoped negotiations on the terms of exit and future relations could then begin as quickly as possible.
 
France’s leading presidential candidates will take part in the first live debate of the bitterly contested campaign on Monday night.

Those taking part, in order of current polling popularity, will be Marine Le Pen, of the far-right Front National, Emmanuel Macron, of the centrist En Marche movement, Francois Fillon of the opposition right Les Républicains, Benoît Hamon, the official candidate for the Socialist party (PS), and hard-left Jean-Luc Mélenchon of La France Insoumise (Unbowed France).

Tomorrow's UK inflation data will be keenly awaited. If it comes in under expectations then we'll see some GBP losses again but similarly a stronger reading will sustain recent gains given the Bank of England's inflation-dependent blinkered stance right now.