Yesterday

• Senior Brexiteer and leader of the ERC Jacob Rees-Mogg, who has heavily-criticised PM Theresa May’s deal, has signaled that he may vote for her deal should she gain the support of DUP MPs. Rees-Mogg says he thought May’s deal was “not a good deal” that does not fully deliver the 2016 referendum result however he believes “leaving legally is better than not leaving at all”.
• The DUP remain against May’s deal at the time of writing with their stance seemingly hardening over the last few days.
• Boris John also suggested he may vote for May’s deal should a third vote take place if his preferred ‘Canada-style’ deal is realised.
• Prime Minister May’s team is reportedly considering holding a third vote on her deal but this will be dependent on whether they think the deal has a chance of being voted through.
• US building permits came in as expected at 1.30M vs 1.32m.
• US CB consumer confidence came in weaker than expected at 124.1 vs 132.1 expected.
• GBP/EUR opened at 1.1659, traded a high of 1.1735 and closed at 1.1714 representing a 0.5% increase on Tuesday.
• GBP/USD opened at 1.3194, traded a high of 1.3261 and a low of 1.3157 before closing at 1.3207 representing a 0.09% increase on the day.

• New Zealand held rates at 1.75% overnight as expected.
• GBP/AUD, GBP/NZD and GBP/JPY are currently trading at 1.8585 (+0.41%), 1.9376 (+1.35%) and 145.88 (-0.12%), respectively.

• MPs are set for a series of indicative votes today to determine their vision of Brexit.
• The votes will be on motions decided by Speaker of the House John Bercow and each will have ‘yes’ or ‘no’ options on their individual ballot papers.
• The voting will start at 2pm today and continue until Monday.
• Sixteen alternative plans have been put forward but the most significant are ‘no-deal’ by John Baron, ‘free trade agreement’ by Fysh and Baker, ‘superseding the backstop’ by Morgan and Rees-Mogg, ‘customs union with the EU’ by Clarke and Benn and ‘the Labour Party’s plan’ by Corbyn.
• Trade balance date from Canada will be released at 12.30.

 

MAJOR CURRENCY PAIRS
Current at time of distribution

Currency Pair	Interbank Rate	% Change on Day
GBP/EUR	1.1709	-0.04
GBP/USD	1.3204	-0.03
EUR/USD	1.1275	+0.09
AUD/USD	0.7098	-0.50

 

Time (GMT)	Region	Data Release	Forecast	Previous
12:30	CAD	Trade Balance	-3.5B	-4.6B
14:00	GBP	Indicative votes on Brexit

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