Mon, December 05, 2016
The Euro fell to a 20 Month Low and Italy’s bonds fell as the nation’s PM Matteo Renzi stated he would resign after accepting defeat in the constitutional referendum.
The PM was due to hand in his resignation to President Sergio Mattarella this, after Renzi’s plan to rein in the power of the senate was scrapped after the referendum which concluded at 60% to 40%, with almost all votes counted. Renzi announced that he won’t stay on to help stabilize a caretaker administration.
Brexit talks are back in action today as the Supreme Court starts contemplate whether PM Theresa May or Parliament has the power to trigger the two-year countdown to withdrawal from the EU.
The hearing is predicted to last all week, with a ruling before January looking unlikely. Victory for May would allow her to trigger negotiations by the end of March and keep her position private as long as possible. Defeat would mean lawmakers could try to stop the process.
The Pound rose against both the Dollar and the Euro reaching highs of 1.2743 and 1.2040.
Data to look out for today.
GBP UK Supreme Court Hears Government-Parliement Brexit Appeal
09:30: GBP UK Services PMI
15:00: USD ISM Services
CURRENCY PAYMENTS MADE SIMPLE
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| Day | Time | Currency | Event |
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| MON | 08:45 | EUR | EUR Markit/ADACI Italy Services PMI | MON | 08:45 | EUR | EUR Markit/ADACI Italy Composite PMI | MON | 08:50 | EUR | EUR Markit France Services PMI | MON | 08:50 | EUR | EUR Markit France Composite PMI | MON | 08:55 | EUR | EUR Markit Germany Services PMI | MON | 08:55 | EUR | EUR Markit/BME Germany Composite PMI | MON | 09:00 | GBP | GBP New Car Registrations (YoY) | MON | 09:00 | EUR | EUR Markit Eurozone Services PMI | MON | 09:00 | EUR | EUR Markit Eurozone Composite PMI | MON | 09:30 | GBP | GBP Official Reserves (Changes) | MON | 09:30 | GBP | GBP Markit/CIPS UK Services PMI | MON | 09:30 | GBP | GBP Markit/CIPS UK Composite PMI | MON | 09:30 | EUR | EUR Euro-Zone Sentix Investor Confidence | MON | 10:00 | EUR | EUR Euro-Zone Retail Sales (MoM) | MON | 10:00 | EUR | EUR Euro-Zone Retail Sales (YoY) | MON | 13:30 | USD | USD Fed's Dudley Speaks on Economy and Policy in New York | MON | 14:25 | USD | USD Fed's Evans Speaks on Economy and Policy in Chicago | MON | 14:45 | USD | USD Markit US Services PMI | MON | 14:45 | USD | USD Markit US Composite PMI | MON | 14:50 | GBP | GBP Bank of England Bond Buying Operation | MON | 15:00 | USD | USD Labor Market Conditions Index Change | MON | 15:00 | USD | USD ISM Services/Non-Manufacturing Composite | MON | 16:30 | USD | USD U.S. to Sell 3-Month Bills | MON | 16:30 | USD | USD U.S. to Sell 6-Month Bills | MON | 19:05 | USD | USD Fed's Bullard to Speak on U.S. Economic Outlook In Arizona |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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