UK, US and Europe: An annual survey conduced by the Financial Times has shown that economists are shying away from making forecasts regarding the outlook for the UK economy this year. Results highlighted that the majority of the economists that took part in the survey did not give a firm prediction for UK GDP for 2019, amid concerns over uncertainty around Brexit and global trade tensions. Looking ahead, we have a busy day ahead for data releases with PMI numbers due in the morning for the UK, Italy, France, Germany and Eurozone, the times of the releases can be seen below.
Economic calendar - key events and forecast (times in GMT)
Source: Daily FX Economic Calendar
Corporate News, Upgrades and Downgrades
Deutsche Telekom has filed a lawsuit over a 5G auction against the German government, highlighting issues with a set of preconditions for participating in the auction. China National Tobacco Corp, the biggest cigarette maker in the world, has announced plans to IPO it's international business unit on the Hong Kong stock exchange. According to the Times, Iceland is facing a £21m bill for breaching minimum wage rules as staff voluntarily had sums taken from their wages which was then paid into a savings scheme, meaning pay had fallen below the national minimum wage. Playtech, a gambling software company, will pay £25.2m in a tax settlement with Israeli authorities following an audit of its financial accounts. IGTV featured video
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