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Martin Luther King Day in the US, and the UK Struggles with Snow

The south east of England including London has been covered with snow since Friday, though a relatively small amount (4-5 inches) it has caused travel chaos. Analysts have been quick to highlight the weather disruption as an increased chance of the UK entering a double-dip recession.  There have been widespread cancellations across both airport and train networks, as the UK struggles to cope with snowfall.  

Today is also Martin Luther King Day in the United States, which means that the trading hours for some markets are effected, please refer to your trading calendar or contact us if you are unsure.

Over the weekend there was further political jousting over the future of the UK in Europe. It is now potential a referendum of an “in/out” vote, as European ministers make it clear the UK won’t be able to handpick the policies it adopts.

Headlines

The US House Republicans announced that the House would pass a bill this week authorising a three month debt limit increase

There has been further talk over the weekend of the so-called threat of currency wars

Council of Mortgage Lenders: Mortgage lending in the UK in 2012 was little changed on 2011 but ended the year in more "robust" form

UK Housing dataRightmove house prices (MOM) (JAN) +0.2%, previous -3.3%  (YOY) (JAN) +2.4%, previous +1.4%

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