European Equities: Can Earnings Support a Bullish Start to the Week?
The Day Ahead
Economic data scheduled for release through the day is on the lighter side today. From the Eurozone, flash consumer confidence figures are due out this afternoon, which will provide some support late in the session.
On the earnings front, the following U.S companies are scheduled to release their earnings results today: The Coca-Cola Co., Lockheed Martin Corp., The Procter & Gamble Co., Twitter Inc., and Verizon Communications Inc
At the time of writing, the European futures were bucking the trend early on. The DAX30 was up 56.5 points, while the CAC40 was pointing to an 18 point gain at the open.
Will Theresa May and the GBP Face a Vote of No Confidence?
For the Pound
There are no material stats due out of the UK today to provide the Pound with direction. The focus in the early part of the week will be on any Brexit chatter.
MP’s return to Westminster today following the Easter recess. Theresa May will be on a mission to wrap up an exit solution before the EU Parliamentary elections and perhaps, more importantly, a more meaningful call for a vote of no confidence.
Talks of a vote of no confidence have already begun to do the rounds…
At the time of writing, the Pound was up 0.03% to $1.2986.
Long above 1.2960 with targets 1.3040 & 1.3086 target in extension
Short below 1.2960 with target 1.2900
Long above 144.75 with target 146.50
Short below 144.70 with 144.20 target
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