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UK: Economy out-performed market expectations - TDS

Analysts at TD Securities point out that the UK economy out-performed market expectations in February, gaining 0.2% m/m (in line with their forecast).

Key Quotes

“The gains were broad-based across components, with IP reflecting the strength seen in France and Italy earlier today, gaining 0.6% m/m. The services sector rose 0.1% m/m, while construction built further on last month's gains, rising 0.4%. Taken with January's strong 0.5% m/m gain, 19Q1 growth is on track for a 0.5% quarter (assuming no change in March). The real risk is that this pick-up is all related to Brexit preparations and unwinds sharply in 19Q2.”

ECB keeps policy rate unchanged in April as expected

developing story...
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EUR/USD stays bid around 1.1280 on steady ECB

The single currency remained apathetic after the ECB decision today, with EUR/USD navigatin the upper end of the weekly range in the 1.1280 area. EUR/
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