- France all for forging EU-UK deal
- All eyes on EU for data today
By Michael Hart
Sterling surged overnight, boosted by comments from the EU indicating that they’re committed to a Brexit deal with the UK. The EU’s chief negotiator, Michel Barnier, said that the EU is prepared to offer a partnership with the UK unlike that with any other country. That’s seen as a gesture that the EU is committed to a deal. Barnier said in Berlin that “...we are prepared to offer Britain a partnership such as there never has been with any other third country.” In return, they must respect what we are,” he said. “Single market means single market… There is no single market a la carte.”
Brexit Minister, Dominic Raab, also told the UK parliament that a Brexit deal with the EU was “within our sights” and the negotiation would intensify as the divorce date approaches. Raab also added that the UK’s Brexit plan received positive reactions from the EU. He said the plan “had a reasonably positive landing” and “we’re getting a lot of constructive engagement.” He also said there was “…a lot of talk about the practical considerations rather than ‘in principle’ dismissal, and I think that’s valuable from our point of view.”
France all for forging EU-UK deal
France is also prepared to help forge an EU deal with the UK after Brexit. Emmanuel Macron aims to use an EU summit next month to put pressure on the bloc's leaders to push for a partnership with Britain. Mr Macron fears that a No Deal Brexit would be damaging for Europe and is keen to push for a new alliance between the EU and Britain. So far, so good - Sterling will continue to remain supported in light of the change in sentiment from the EU.
All eyes on EU for data today
Looking ahead, Germany will release its unemployment and Consumer Price Inflation (CPI) figures. The Eurozone will release confidence indicators. The UK will release mortgage approvals and Bank of England M4 (broad) money supply.