Key week for Brexit negotiations

So the Pound is hoping to make it a third successive week of gains this week and even though the advance has been relatively small and limited, it's still an improvement on June's poor levels. The market will be looking for positive EU-UK trade talks though if the gains are to be sustained. Thursday or Friday is likely to be the key risk event for the £, where we should hear something of the week's talks.

As of yet, there really hasn't been much to go on from the previous two-weeks' talks and so no news is good news right? The Pound needs something 'concrete' from either party to break away from the uncertainty and so upside will remain contained in the currency. A recent report from The Sun, suggested EU's Chief Negotiator Michel Barnier is 'ready to water-down his red lines, but can only take the plunge if the PM shows willingness to compromise'. 

 

It's an action packed week ahead in terms of economic data. Plenty of potential market movers especially from the UK with GDP, inflation and unemployment figures being released. May's GDP figure is expected to be positive and show an initial V-shaped recovery and so tomorrow could see slight Sterling strength. 

 
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