The UK’s Supreme Court made a ruling that the government must hold a parliamentary vote before triggering the process to exit the EU.
May and Trump meet for the first time to discuss trade and terrorism and the meeting is a success
Trump brings focus towards plan to build Mexican wall and enforce tariffs on Mexican products entering the country. Trump says that Mexico will pay for it, although not immediately. Mexico fiercely refuses to accept to make any such payments. The Mexican peso was up by more than 1 per cent on Friday, hitting the highs of the day, after the country’s president spoke on the telephone with Donald Trump.
Dow hits a record of 20000
The FTSE 100 has risen after US president Donald Trump reignited a rally in miners after signing a controversial order backing the Keystone XL and Dakota Access oil pipelines.
Although investors seem not to be shaken by a Trump regime the unpredictableness of policy via potential tweets on a day-to-day basis, they are finding confidence in the openness of Trump vs a previos Obama who seemed to be more methodical, reserved and slow-acting whilst Trump being a businessman will listen to business, loosen regulation in industries that cry for it, penalise companies for taking jobs out of America. This differs him from the regular policymaker
The dollar headed lower this week against its major peers as traders digested the tensions sparked by Donald’s Trump order halting some immigration, a move that’s ignitedopposition from world leaders including the UK. Trump’s executive order halting immigration from seven predominantly Muslim nations drew criticism from world governments and some of the largest companies, bringing the geopolitical and international trade risks surrounding the new U.S. president into sharper focus.
It was a volatile week for the Sterling as investors have watched the currency respond to the Supreme Court ruling on the government’s Brexit process, the first estimate for how the UK economy performed in the fourth quarter, the publication of the Article 50 bill that authorises Brexit and a volatile dollar. There was also Theresa May’s trip to Washington for an audience with president Donald Trump. Despite all these, the pound has remained a strong buy whilst on Thursday, it was trading at slightly below $1.26, a rise of 1.8 per cent since the start of the week.
The UK was the best-performing large and advanced economy in 2016. Official figures for the fourth quarter published on Thursday showed economic growth of 0.6 per cent in the final quarter and 2 per cent for 2016 as a whole. Employment is at a record level, inflation is returning due to higher energy prices and the cost of importing, consumers are still borrowing due to low interest rates.