European Economics Preview: UK To Invoke Article 50 Triggering Brexit
29 March 2017 - 12:50PM
RTTF2
The 'Brexit' negotiation process is set to begin as the UK Prime
Minister Theresa May signed the letter late Tuesday that notifies
the European Union of her government invoking the Article 50 of the
Lisbon Treaty.
The uncertain negotiation process is expected to take two
years.
Britain's Ambassador to the EU will deliver the letter to
European Council President Donald Tusk in Brussels on
Wednesday.
May is set to update the British parliament today, while Tusk is
scheduled to make a press statement on the UK notification in
Brussels around 13.45 local time.
Mortgage approvals from the UK and foreign trade prices from
Germany are major statistical reports due on Wednesday.
At 2.00 am ET, Destatis releases foreign trade prices for
February. Germany's import prices are forecast to rise 7 percent
year-on-year, following a 6 percent rise in January.
In the meantime, Swiss UBS consumption indicator data for
February is due.
At 2.45 am ET, French consumer confidence survey results are
due. The consumer sentiment index is seen unchanged at 100 in
March.
At 3.00 am ET, the National Institute of Economic Research is
slated to publish Sweden's economic tendency survey data. The
economic tendency survey index is forecast to fall to 110.6 in
March from 111.6 in February.
At 3.15 am ET, the NIER releases Sweden's economic forecast.
At 4.00 am ET, Italy's business and consumer sentiment survey
results are due from the statistical office.
At 4.30 am ET, the Bank of England is scheduled to issue UK
mortgage approvals figures. The number of mortgage approvals is
forecast to fall to 69,100 in February from 69,900 in January.
Euro vs US Dollar (FX:EURUSD)
Forex Chart
From Apr 2024 to May 2024
Euro vs US Dollar (FX:EURUSD)
Forex Chart
From May 2023 to May 2024