Brexit negotiations due to restart next week

Hi everyone,

It is understood that the EU-UK Brexit negotiations will restart next week via video-conference. The talks that are now many weeks behind schedule, will start on the 20th April and future dates in May and June have also been scheduled.

The potential stumbling block is likely to be down to fishing rights, with the EU wanting to maintain access and the UK not even allowing it to be negotiated. One EU official recently told the Financial Times "If there is no progress on this, then there will be no progress in other areas".

There is yet to be an extension announced which seems to most the obvious path to go down because of the coronavirus delaying proceedings. If this doesn't happen, the chances of WTO become very real and the £ will weaken. For now though, Sterling remains stable and current trading levels seem fair.

Elsewhere, the IMF have forecast that the world economy is projected to contract by 3% this year, much worse than the 2008 financial crisis. The Euro-Zone is likely to see the biggest fall in growth this year compared to the UK and US. Over in the US, more than 22 million workers have been laid off in just 1-month. They have recently recorded the highest number of initial and continuing jobless claims in it's history. 




Upcoming Data


Friday, 17th April, 2020

00:00 UK - Moody's sovereign debt rating
09:00 EU - Euro-Zone CPI
14:00 UK - BoE meeting


Dan Waterman
Sales Director



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