Best Excuses?!-The Dog Ate My Homework
Yesterday was the last day for filing 2018 tax returns with the UK’s HMRC and they have shared their own favourite excuses for late or non-filing of returns. Not all of them meet the high standards which we all remember from our school days but here are a few of the better ones:
-I’m too short to reach the post box
-My boiler had broken and my fingers were too cold to type
-My mother in law is a witch and she put a curse on me
-I was too busy-my first maid has left, I had to dismiss my second maid as she was a thief and the third maid is a slow learner.
There are economic statistics out in both the UK and in the US today, but the most important is the US employment release early this afternoon which is expected to show a healthy increase of 180,000 in the Non-Farm Payroll and unemployment of 3.8%.
In the currency markets the USD remains steady and so miraculously does the GBP with markets giving the UK Parliament the benefit of the doubt as the next weeks will undoubtedly have both advances and setbacks in expectations of the outcome of the brinkmanship negotiations with Brussels. Meanwhile we have to hope that there will be a deal and a deal which is voted through by the UK Parliament and that MPs will have no need to dust off their own very best excuses as to why they have presided over the poor outcome of the UK crashing out of Europe with No Deal.
Have a great weekend.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Never a dull non-farm Non-farm payrolls data almost always provides the observers an opportunity to witness and potentially trade with some volatility in the markets. More often than not the salience of the event and the mixed expectations moving into it leads to more price fallout from the noise generated from the event instead of […]
Federal Reserve Chair Jerome Powell gave a speech in Washington last night that further confirmed his hard line thinking: US interest rates will need to go up more and probably it will take two separate rate rises to see if that is sufficient-the clear implication is that if it needs more, then that is what […]
US Economy The US job figures on Friday most certainly set the cat among the pigeons: with non farm payrolls expected to be up by 187,000 and the market’s expectation that Chairman Powell of the Federal Reserve was talking the talk rather than walking the walk when he had said last Wednesday that rates were […]