UK Supreme Court set to announce its decision on Brexit
• Should Parliament vote on triggering Article 50?
• If yes, greater involvement from lawmakers means reduced risk of a “messy” UK-EU divorce.
• Thus, if the Court rules Parliament should vote, GBP could experience another relief rally.
• If no, GBP may come under renewed selling interest, as the risk of a “hard Brexit” increases.

Trump withdraws US from TPP, promises to cut taxes and regulations
• Withdrew the US from TPP, and reiterated he will cut taxes and regulations “massively”.
• Although one would expect these to support USD, the currency finished the day lower.
• Investors may be looking for numbers, not just rhetoric before playing the “Trump trade” again.
• Attention now turns to NAFTA renegotiations (could hurt MXN) and the government’s budget (6th of Feb.).

As for the rest of today’s highlights:
• France, Germany & Eurozone: Prel. Manuf. and services PMIs for Jan. Expectations are for most indices to stay unchanged, or rise a bit, something that could support EUR a bit.
• US: Markit manufacturing PMI for Jan. and existing home sales for Dec.
• Speakers: ECB Executive Board member Sabine Lautenschlager.

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