Theresa May will today be the first foreign leader to meet with Donald Trump since he became the 45th President of America. There is certainly major significance to this for both sides as the UK plans to leave its biggest trading Bloc and the President has invoked orders to remove themselves from existing trade negotiations.
Earlier this week the man tipped to be appointed the US Ambassador to the EU suggested the single currency could collapse in the next 18 months. Professor Ted Malloch went on to say he believed a free trade deal between the US and the UK would take 90 days to agree.
Whilst the UK are not able to sign any trade agreements before they completely leave the EU, there is nothing stopping the government putting plans in place. Theresa May’s purpose of the visit no doubt revolves around talking trade with Trump, however following comments made by the President there are some concerns. Trump yesterday suggested that waterboarding serves a purpose and should be used, Theresa May has been challenged to raise this as unacceptable with the President by MP’s. No doubt as a previous Home Secretary May will be informed about what is and isn’t acceptable, but she will be careful that doesn’t over shadow what she’s there for.
Today preliminary US GDP Data for Q4 will be released which is expected to show an improvement of 0.7% from the previous quarter, taking the quarter growth to 2.1%. Strong data releases are likely to add optimism to further rate Interest rate hikes and could help the US Dollar gain back some of this week’s lost ground.
Over the weekend there will be reports of the discussions and positive talks in my opinion could help boost the Pound. If you do have a USD requirement alerting your broker to your needs could make sure you’re trading at the best levels next week. Call us on 01494 725 353 or Ben Fletcher if youd like to discuss a requirement.
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