The economic calendar foresees some crucial data due to be released this Thursday and Friday. The UK and the US will be in focus with UK Q4 GDP (YoY and QoQ) being released at 09.30 tomorrow. From the US, we will see for the US Q4 GDP (QoQ) at 13.30 on Friday.
UK GDP (QoQ) (Q4) is expected to show a small decline of 0.5 (QoQ) and 2.1 (YoY) respectively. On the US side, markets expect an increase from 1.4% to 2.1% from their Gross Domestic Product Index (Q4).
It’s official Mrs May will meet President Trump on Friday the 24th in Washington. Interestingly, Theresa May is the first foreign leader to meet President Trump. The UK PM plans to discuss free trade, the importance of the NATO military alliance and the ISIS terrorist threats.
Trump has promised to strengthen the UK-US relationship. However, Mrs May recently said in an interview she will not bow to President Trump talks; she promised to be very ‘’frank’’ if she finds the President’s deals unacceptable. We can possible see a rekindle of the Reagan-Thatcher bond of the 1980s here. According to some sources, the two leaders will discuss the possibility of spending at least 2% of GDP on defence and they will also try to convince other NATO countries to follow in their footsteps.
President Trump is very keen on growing the UK-US relationship. Well, he may be a blessing in disguise for the UK especially after Brexit…Trump could be just the ‘friend’ that the UK needs. The billionaire tycoon is very positive about the UK leaving the European Union. The President of America said that Brexit is beautiful, and the EU is falling apart…’‘People want their own identity,’’ he said, ‘’so if you ask me, others, I believe will leave.’’
Excited to revive the UK-US bond, some sources revealed that President Trump calls Theresa May ‘’My Maggie’’ in private. We will have to wait and see whether he turns out be her Ronnie?
We continue to witness political and economic activity remains a key catalyst for currency movement. At Indigo FX, our professional traders analyse the markets movements 24/7 to ensure our clients are not affected in their daily FX transactions. Call us on 020 7856 2467 to hedge and to protect your businesses bottom-line.
