U.K. Brexit Talks Apparently At An Impasse
23 Years ago | January 27, 2019 9/29/23, 12:00 AM
John M. Bland, MBA, co-founder, Global-View.com
U.K. Brexit Discussions Remain Center-Stage Monday of this week saw U.K. PM May present her “Plan B” to the House of Commons after “Plan A” was soundly defeated on January 15. This was an historic loss for the May government after Parliament rejected her Brexit deal proposal on a vote of 432-202. PM May lost the vote by a margin of 230 votes. Labour called for a vote of No Confidence on Wednesday January 16 which May survived. I must admit that I was not surprised that after two years of negotiations with the EU, that May appears to have been incapable of coming up with anything revolutionary for her “Plan B” this week. The House of Commons will vote on Plan B next Tuesday, January 29. The main stumbling bloc remains the status of Northern Ireland and the insistence that Northern Ireland remain effectively in the EU post-Brexit. Furthermore, there are several factions in PM Mays party and in the opposition who are doing whatever they can to kill Brexit.
EURGBP Trade Making Life Difficult ForThe forex market. Forex markets have been focused on the EURGBP cross while Brexit remains up in the air. Markets are seeing a U.K. exit from the EU as bad for the GBP and good for the EUR. This has seen many selling the GBP vs. the EUR whenever a successful Brexit appears more likely and buying the GBP vs. the EUR when it is not. In general, the market view seems to be that United Kingdom will suffer in a separation from Europe. As things stand right now, talks appear to be at an impasse.
GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium
Tue 29 Jan 2019
AA New Brexit Vote in Parliament
Wed 30 Jan 2019
A 12:15 US- ADP Payrolls
A 15:00 US- EIA Crude
A 14:00 US- Fed Decision
Thu 31 Jan 2019
A 07:00 DE- Retail Sales
A 08:55 DE- Employment
A 10:00 EZ- GDP
A 10:00 EZ- Flash HICP
A 12:30 US- Weekly Jobless
A 15:00 US- Personal Income/PCE
Fri 1 Fed 2019
A all day Flash PMIs
AA 08:30 US- Employment
A 10:00 EZ- GDP
A 12:00 GB- Bank of England Decision
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