MAYDAY:
The stubborn and perseverant Theresa May has travelled to the Netherlands today in order to meet the Dutch Prime Minister and Brexit ally, Mark Rutte. Thought to have continually supported the United Kingdom and the Prime Minister within the European Council throughout the Brexit process, May was looking to foster support ahead of Thursday’s EU summit. Whilst her cabinet and closest aids continue to support her efforts in Westminster, May has continued her not-so-grand European closing in on Brussels for the final push. Reports on the malleability surrounding Brexit concessions this week differ greatly. Juncker has reportedly ruled out any flexibility even at the margin of the text:
However, never underestimate the value and power of a simple clarification! The 585-page Brexit treaty document can, at first impression, seem expansive, daunting and comprehensive, however, don’t be fooled; so much is still left to interpretation! Should the EU offer May marginal improvements in the deal within the skeletal framework already agreed upon at the European level, Sterling could correct itself considerably.
The Dollar came under pressure this morning as President Trump once again turned against his own Federal Reserve. However, as further risk-off positioning manipulated the market environment, these concerns faded away to leave the US Dollar stronger on the day.
Discussion and Analysis by Charles Porter
UK Energy Apart from announcing that there will be no further North Sea drilling licences issued, newly minted Uk Energy Minister Ed Miliband has wasted no time in greenlighting three huge new solar farms in Lincolnshire, Cambridgeshire and Suffolk. Sufficient to power 400,000 homes with an output of 1.4 GW the solar farms will cover […]
Germany The German business climate was slated to rise in July but instead it fell in terms of both current and also future expected business conditions as reflected in the IFO Index made up of manufacturing, services, trade and construction sectors as submitted by 9000 firms. Germans wishing doubtlessly that they could be as strongly […]
British Pound GBP is currently in fashion: with a record number of long positions and currently at the top of the G7 currency performance charts and after a period of being deeply unfashionable GBP is wanted-in a good way. The reasons for this are diverse: first off is the Bank of England’s caution on cutting […]