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Markets roar over the weekend

GBP - British Pound

The markets start the week on the front foot as risk-on sentiment has swept across Asian equities and Tiger Woods showed over the weekend that any comebacks are possible. On the domestic front however things may be a little quieter with Brexit being punted down to the far end of the field to buy some time and a reprieve. With Parliament (and Laura Kuenssberg) on Easter recess Brexit headlines should be few and far between however keep an eye out for the ongoing May-Corbyn negotiations. David Lidington, the de facto deputy Prime Minister, was on the Andrew Marr show at the weekend stating that the talks were 'testing ideas'. Until this round of negotiations is over the pound should remain muted even in the face of the hat-trick of data later in the week.

Key Movers

Negotiations are all the rage at the moment and at the centre of all of the global developments is the US. Firstly, the United States indicated over the weekend that its willing to accept Beijing's demand for 'two-way' enforcement of any future agreement it has with China. Indeed it was this news that drove the rally in riskier Asian stocks and has seen EUR/USD rise above 1.13 for the first time since March. The second development to watch out for is that of upcoming negotiations between the US and Europe. The EU is expected to decide on its negotiating mandate with the US this week which will wbe critical as Donald Trump begins to turn his eye on Europe competitiveness, the weakness of the Euro and significantly the German car industry.

Expected Ranges

GBP/USD: 1.3000 - 1.3100 ▲

GBP/EUR: 1.150 - 1.1645 ▲

GBP/AUD: 1.8200 - 1.8390 ▲

GBP/NZD: 1.9340 - 1.9400 ▲

GBP/CAD: 1.7380 - 1.7510 ▲