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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

Will Trump Get His Wall? | US GDP and Durable Goods Data Released

Published December 21, 2018
  • The Senate bill that would allow the impasse over funding for President Trump’s border wall to be pushed to February were significantly defeated yesterday when the US Congress added $5 billion of funding for the project and proffered this to the Senate. Although US senators stated the modified legislation won’t pass the chamber, this leaves only hours left before the government closure.
  • The US Census Bureau will release its November report on durable goods, manufacturers’ shipments, inventories and orders this morning. New orders for durable goods are forecast to rise 1.6% in November following October’s 4.3% decline. This will be followed immediately by the third and final revision to US annualized third quarter GDP from the US Commerce Department. It is expected to confirm that the US economy expanded at a 3.5% pace in the third quarter.
  • Only a couple months remain for the UK to leave the European Union, with no clear indications of an agreement that can be passed by parliament. Calls for a second referendum have gained traction, as many see another election as a possible solution to the parliamentary stalemate.