EU grants Brexit extension

Hi everyone,

The market remains relatively unchanged after the EU grants a 'flextension' until January 31st. There has been no comment as yet of whether there are conditions attached. The delay isn't considered to be a huge blow for the economy, but it's yet more uncertainty for the UK & £ which is bad for business.

It's pretty inevitable there will now be a pre-Christmas general election, which will put pressure on the Pound in the build-up. This is likely to be confirmed tomorrow, as the SNP & Lib Dems roll out their conditions to the Tory party to hold one.

So we have reached peak Brexit division. Labour can't agree on agreeing to an election. Lib Dems & SNP say they want to block Brexit but are pushing for an early election. Tories have failed to keep their promise of leaving the EU by 31st October. 

There is plenty to watch out for on the data-front this week with key data daily, especially from the US & EU. 




Upcoming Data


Tuesday, 29th October, 2019

07:00 UK - Nationwide house price index
09:30 UK - Consumer credit & mortgage approvals 
14:00 US - Consumer confidence & pending home sales

Wednesday, 30th October, 2019

06:30 EU - French GDP
08:55 EU - German unemployment 
10:00 EU - Euro-Zone business climate
11:00 US - Mortgage applications
12:15 US - Employment change
12:30 US - GDP
13:00 EU - German CPI
18:00 US - FOMC rate decision

Thursday, 31st October, 2019

00:00 UK - Consumer confidence
07:00 EU - German retail sales
10:00 EU - Euro-Zone CPI, GDP & unemployment rate
11:00 EU - Italian GDP
12:30 US - Jobless claims, personal income/spending

Friday, 1st November, 2019

09:30 UK - PMI
12:30 US - Non-farm payrolls, unemployment rate, average earnings
14:00 US - Employment, manufacturing & construction spending 


Dan Waterman
Office Manager



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