News
- Security discussions which included a U.S.-Mexico border barrier on its agenda over the weekend is likely to fell flat as President Trump has publicly come out to express his dissatisfaction on its progress. The current government funding ends on February 15 and the lack of progress with the wall funding could see the shutdown reinstated.
- The UK GDP grew 0.2% in the fourth quarter of 2018, bringing the full year GDP to a 1.4% expansion, which translates to the weakest growth since 2009. The economy continues to be affected by negative sentiment around Brexit. Construction output fell for the first time in eight months and manufacturing output registering weaker than expected numbers, falling 2.1% yoy.
In the spotlight
- This week, markets are likely to zoom in on inflation numbers coming from China, UK, and the U.S., China and U.S. trade figures, Germany’s industrial output, as well as retail sales from the UK and U.S.
Expected events. All times GMT.
- 0930 UK will release Industrial Production, Manufacturing Production, Trade Balance and Q4 GDP.
Technical Analysis
- The slide continues with GBP/USD as a slew of weaker than expected economic data that came out at 0930 GMT on Monday brought sellers out in droves. The psychological support level that traders will be watching is 1.2900. We could see the slide bottom out if prices could stay above this support level.