Bullet Report: Brexit Now Official, Prepare For More GBP Volatility
The day has finally come where the UK government will begin the two-year process to exit the EU. British Prime Minister Theresa May has signed the Brexit letter to invoke the Article 50 of the Lisbon Treaty yesterday…
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GBP Sinks as May Prepares to Trigger Article 50
More than nine months after the UK voted to leave the EU and end its 44 year membership of the block, PM Theresa May will finally today deliver a letter officially triggering article 50 and beginning at least two years of tough negotiations. Speculation likely to continue as meaningful talks could take months to begin […]
Article 50 Invoked by UK Prime Minister Theresa May
British Prime Minister Theresa May signed a letter to invoke Article 50 which will be delivered to the European Council in Brussels today (Wednesday) at 11:30 p.m. GMT. This was announced by May’s office with a photo showing…
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What Dollar Demise
What dollar demise? The USD regained some semblance of composure overnight as rises in equities, oil prices, and yields provided the scrim for a bustling overnight session where the Greenback showed it’s fortitude while consumers found their confidence. While the Dollar is not out of the weeds by any stretch, US economic data was convincing. […]
Pound Lower As UK and EU Divorce Begins
UK PM Will Deliver Letter Triggering Brexit The Prime Minister of the United Kingdom, Theresa May, will invoke article 50 of the Lisbon treaty on Wednesday, March 29 at 7:00 am EDT (11:00 GMT) by telling the British parliament that she has submitted the signed letter to the European Union. This symbolic exchange will trigger […]
BoC Poloz Says Free Trade, FI and Immigration Play Critical Roles
In a speech to university students on Tuesday, Bank of Canada governor Stephen Poloz argued that free trade, foreign investment and immigration all played critical roles in building Canada’s economy throughout history. “When trade barriers are falling, when people are coming to our shores and when investment is rising, Canadians prosper. We saw this before Confederation, in […]
Scottish Lawmakers Back Call for Independence Vote
Scottish lawmakers voted 69-59 in favor of an independence referendum Tuesday, setting Edinburgh on a collision course with the UK government. The vote by members of the Scottish Parliament gives the green light to First Minister Nicola Sturgeon to ask the UK Parliament for a referendum between autumn 2018 and spring 2019. British Prime Minister […]
White House Said to be Working on Two Executive Orders
The White House is preparing two executive orders that would put President Donald Trump’s aggressive trade agenda into motion, according to a senior administration official, with one expected to be announced by the end of the week. One of the orders calls for a sweeping review of America’s existing trade deals, including the North American […]
Nafta Architects Warn About Ending Trade Between Partners
An atomic bomb. Disastrous. A nightmare scenario. Tragic. Absolutely destructive. These were the dire words used by three of the original negotiators of NAFTA to describe what would happen if the deal was thrown out and protectionist trade policies ruled. NAFTA is the trade deal between U.S., Canada and Mexico that’s under siege from President […]
Russia and Iran to Continue Cooperating on Production Cut
Russia and Iran will continue cooperation in reducing oil output in order to stabilize the global energy market, according to a joint statement signed by both countries on Tuesday.